A pickup in construction activity in the U.S. residential sector is expected to help drive the global wallcoverings market to the $29 billion mark by 2017, a new market-research study concludes.
Also figuring into better days for the market are strong growth prospects in the developing economies of Asia and a revival of interest in wallcoverings and decorative finishes generally, the report suggests.
“Key factors driving growth include a rebound in the housing starts of the U.S., which represents the single largest market for wallcoverings globally, and strong growth opportunities from the robust Asian construction sector,” Global Industry Analysts Inc. says in issuing “Wall Coverings: A Global Strategic Business Report.”
The global market is forecast to increase from $24 billion in 2011 to $29 billion by 2017, registering a compounded annual growth rate (CAGR) of 2.69% during the period 2009-2017, the firm says in an announcement on the report.
Read the rest of the report here.