"The global fabric for wall and ceiling coverings market is experiencing a transformative shift, offering innovative and aesthetically pleasing solutions that redefine interior design and decor. The market is on the brink of significant expansion as consumers and industries seek sustainable, customizable, and high-quality options for interior spaces. Fabric for wall and ceiling coverings is creating new dimensions of style and functionality, with a growing emphasis on environmentally friendly materials and designs."
WILMINGTON, Del., Nov. 7, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Fabrics for Wall and Ceiling Coverings Market by Fabrics (Polyester, Polycotton, PVC, and Others), and Application (Textile-Based Wall Coverings, Stretch Ceilings, Acoustic Panels, and Partition Walls): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report the fabrics for wall and ceiling coverings market was valued for $1.2 billion in 2022 and is estimated to reach $2.4 billion by 2032, exhibiting a CAGR of 7.2% from 2023 to 2032.
Prime determinants of growth
Increase in outdoor recreation, product innovation, and rise in eco-awareness are the factors expected to lead to a surge in the demand for fabrics with various functions which drives the growth of the global fabrics for wall and ceiling coverings market. However, the fluctuating raw material prices, and supply chain disruptions restrict the market growth. Moreover, a surge in e-commerce across the globe presents new opportunities in the coming years.
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Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $1.2 billion |
Market Size in 2032 | $2.4 billion |
CAGR | 7.2 % |
No. of Pages in Report | 219 |
Segments covered | Fabrics, Application, and Region. |
Drivers | Growth in outdoor recreation Product Innovation Rise in eco-awareness |
Restraints | Fluctuating raw material prices Supply chain disruptions |
Opportunities | E-commerce growth |
Impact Scenario
· The outbreak of the COVID-19 pandemic had a negative impact on the global fabrics for wall and ceiling coverings market, as the widespread disruptions to industries, supply chains, and economic activities led to a decrease in tourism activities which led to a decline in the demand for fabrics. However, the pandemic also presented new opportunities for the fabrics for wall and ceiling coverings market.
· The Russia-Ukraine war had a significant impact on the fabrics for wall and ceiling coverings market, particularly in Ukraine and Russia. The conflict disrupted the country's raw materials and tourism activities. However, the increase in the demand for outdoor tents for military personnel has a significant impact on the fabrics for wall and ceiling coverings market.
· Furthermore, the increase in the economic recession across the globe has a certain impact on tourism activities which directly have a significant impact on the fabrics for wall and ceiling coverings market.
The polyester fabric to maintain its leadership status throughout the forecast period
Based on fabric, the polyester segment held the highest market share in 2022, accounting for more than one-third of the global fabrics for wall and ceiling coverings market revenue and is estimated to maintain its leadership status throughout the forecast period.
However, the other fabrics segment is projected to manifest a CAGR of 7.8% from 2023 to 2032, owing to the surge in global demand for other functional fabrics that are resistant to various environmental conditions. The increase in camping activities and rise in eco-awareness among the young generation has led to an increase in the demand for various other fabrics in this market.
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The textile-based wall coverings segment to maintain its lead position during the forecast period
Based on the application, the textile-based wall coverings segment accounted for the largest share in 2022, contributing to nearly two-fifths of the global fabrics for wall and ceiling coverings market revenue, and is projected to maintain its lead position during the forecast period. The growth factors for the textile-based wall coverings are mostly due to the increase in the demand for camping activities in developing countries and also due to the influence of lockdown in the pandemic period which led to the surge in tourism activities after vaccination.
However, the acoustic panels segment is expected to portray the largest CAGR of 7.7% from 2023 to 2032. The growth opportunities in the acoustic panels segment of the fabrics for wall and ceiling coverings market arise from the demand for the soundproof comfortable living space for outdoor camping and other activities.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global fabrics for wall and ceiling coverings market revenue, and is likely to dominate the market during the forecast period. The presence of well-developed tourism activities in this region, and the camping culture for vacation have led to the demand for functional fabrics which are widely used in camping activities. The increase in demand for various fabrics in the camping activities in the region is projected to drive the growth of the market.
Furthermore, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% from 2023 to 2032. The region is characterized by rapid urbanization, a rise in camping culture, and the presence of most of the developing countries where per capita expenditure is rising rapidly. These factors are driving the demand for various functional fabrics in the camping industry.
Leading Market Players: -
· Subrenat
· Heytex
· Tepastex
· Hiltex Industrial Fabrics Ltd.
· Foh Hin Canvas Sdn. Bhd.
· The North Face
· Marmot Mountain, LLC
· Columbia Sportswear Company
· Big Agnes, Inc.
· Rei Co-Op
The report provides a detailed analysis of these key players in the global fabrics for wall and ceiling coverings market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/fabrics-for-wall-and-ceiling-coverings-market/purchase-options
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