Demand for wall coverings is projected to advance 8.2% annually from a weak 2010 base to $2.2 billion in 2015.
Those numbers are from a new study from The Freedonia Group, a Cleveland-based industry market research firm. The report, "Wall Coverings," calls for all the areas of wall coverings to show impressive growth through 2015.
Demand for wall coverings fell sharply in the wake of the economic recession and the collapse of the U.S. construction market, particularly residential construction, according to Freedonia.
Demand for wallpaper products is projected to increase 7.3% annually to $480 million in 2015. Demand for wall panel products is forecast to increase 9.0% annually to $1.2 billion in 2015. And demand for decorative tile wall coverings is projected to increase 7.1% annually to $450 million in 2015.
Sales of wall panel products will benefit from the expected recovery in residential construction activity, coupled with improving prospects in nonresidential construction markets. Laminate panels, in particular sheet panels, will continue to dominate demand, but greater growth prospects will emerge for several products at opposite ends of the value spectrum.
In the wallpaper category, the development of such products as wallpaper borders, custom wallpaper and textured wallpaper is expected to generate interest and sales, according to Freedonia. Also, advances in wallpaper technology, which make these products easier to apply and remove, will expand sales opportunities.