Global Wall Cladding Market: Industry Analysis and Forecast, 2021-2030:
The globe Wall covering market The size was estimated at US$152 billion in 2021 and is projected to reach US$239.7 billion by 2031, increasing at a CAGR of 4.7% from 2022 to 2031.
Wall cladding is used to improve aesthetic appearance and protect the vertical surfaces of homes and offices. Depending on individual needs, it is a covering that can be used both indoors and on external facades. Wall coverings are widely used in residential and non-residential areas. Wallpaper, wall panels, and tiles such as marble and ceramic are some of the popular materials used as wall coverings. Wallpaper and tiles are used in offices, commercial premises and homes to make them look elegant and stylish.
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The study provides a detailed analysis of the drivers, restraints, and opportunities of the global Wall Coverings market. These insights provide the necessary guidance to determine drivers and implement strategies to achieve sustainable growth and seize opportunities to explore the potential of the market.
Effects of Covid-19:
- Wall Covering manufacturing activities have been halted due to the implementation of the global lockdown.
- Additionally, supply chain disruptions, labor shortages, and unavailability of raw materials created challenges in running full-capacity manufacturing.
- Several construction activities have been postponed to maintain social distancing norms.
- Demand from the end-user industry dropped significantly due to the disruption to day-to-day operations in 2020. However, demand would rise steadily during the post-lockdown period as day-to-day operations resume.
- The ban on import-export activities caused a disruption in the supply chain and a gap between supply and demand. When restrictions are lifted, the supply chain will be restored.
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