The market is increasing as new construction infrastructure expands around the globe. Compared to traditional wall decoration techniques like painting, the ease of installation promotes its appeal in the glass fiber wallpaper market. Being one of the most durable and environmentally safe wall coverings, it is highly favored, which raises demand for it. Fuelling the market for glass fiber wallpaper. The industry is growing since wallpaper doesn't contain dangerous materials like lead. The market is expanding due to rising disposable income and more homes for the middle class. Additionally, the growth of the glass fiber wallpaper market is being constrained by its high cost. The significant initial investment is anticipated to contribute to the increase in global glass fiber wallpaper demand. The glass fiber wallpaper has been transformed into digitally printed wallpapers, which are more durable than interior paint, thanks to advancements in material technologies. This element will also accelerate the global expansion of major glass fiber wallpaper players.
The COVID-19 outbreak has significantly slowed the world economy by limiting supply chain operations. The disruption in the supply chain for nations like China and South Korea has had a significant impact on the growth of the glass fiber wallpaper market. In contrast, expanding housing programs in Brazil and India boosts the demand for rental properties. As a result, they are directly responsible for the market for glass fiber wallpaper's expansion. To meet consumer demand, manufacturers are using innovative strategies. The COVID-19 epidemic has also accelerated the development of online e-commerce channels to raise the purchasing rate. The quantity of glass fiber wallpaper orders in the home sector has surged due to the worldwide lockdown. Owners frequently overspend on home improvement and décor projects. As a result, there has been an increase in the commercial sector's use of glass fiber wallpaper, boosting its market.
Growing Consumer Demand for Glass Fiber Wallpaper will Fuel Market Expansion
Customers are increasingly leaning toward improving the aesthetic appeal of their home furnishings, which is driving up demand for glass fiber wallpaper, laminates, and numerous other specialized interior components. Customers now prefer digitally printed glass fiber wallpapers and coatings over conventional paints because they offer a greater variety and longer endurance. Digitally printed glass fiber wallpapers, as opposed to interior paint, enable the decoration of walls and give them a beautiful appearance while also being more affordable. The need for attractive glass fiber wallpapers has increased recently in the residential market.
Main Obstacle to the Expansion of Glass Fibre Wallpaper Market is the Availability of Alternatives
The global glass fiber wallpaper market faces difficulties due to the accessibility of alternatives such as carbon, basalt, and natural fiber. These alternatives are employed in end-user applications, including building and construction, automotive, consumer products, and industrial sectors. In contrast to glass fiber wallpaper, basalt fiber is utilized in building and construction, automotive, and other industries. It is a reinforcing material in the building and automotive industries because of its outstanding thermal stability, high-temperature filtration, high acid and ultraviolet (UV) resistivity, and high-energy electromagnetic radiation. It is being utilized as a wallpaper replacement for glass fiber.
By Product Type
Based on product type, the glass fiber wallpaper market is segmented into Wet-Laid Process and Dry-Laid Process. The wet-laid process category dominated the market in 2022. High production rates, significant mixing flexibility, and opportunities to attain product consistency are all features it offers. Using enormous tanks, the wet-laid method suspends staple fibers with a maximum fiber length of 12 mm in the water while frequently combining them with viscose or wood pulp.
Based on application, the glass fiber wallpaper market is segmented into Roof Materials, Plasterboard, Electronics and Automobiles, Floor Covering and Others. The roof material category dominated the market in 2022. Fiberglass-reinforced roof materials are becoming increasingly popular among people wishing to build low-maintenance houses due to their durability and nearly zero maintenance requirements. They can also better insulate. Consumers won't have to spend money on heating or cooling systems for the home.
North America is projected to hold the largest glass fiber wallpaper market share over the forecast period. The two main factors anticipated to propel regional market expansion over the forecast period are an increase in disposable income and a rise in the demand for home improvement products. Additionally, several regional governments are funding renovation initiatives aiming to build buildings that use less energy. These programs offer the glass fiber wallpaper industry a chance to expand. These are the primary factors that will fuel the expansion of the North American market over the course of the projection period. On the other hand, the Asia Pacific glass fiber wallpaper market is anticipated to grow significantly over the forecast period. The population in this region is growing and urbanizing quickly, causing the building industry to expand more quickly. According to the United Nations World Tourism Organization (UNWTO), this region is experiencing growth in the tourism industry as more visitors from around the globe have been traveling to its several nations in recent years. These elements are responsible for the hospitality industry's increased expansion, which fuels the glass fiber wallpaper market.
LIST OF KEY COMPANIES PROFILED:
- RTP Company
- Owens Corning
- Bodo Moller Chemie
- Center Glass
- Changzhou Pro-Tech Industry
- Suntex Composite Industrial
- Nippon Sheet Glass
- Polycore Technology
- Fulltech Fiber Glass
- Hunkuk Fiber Glass
- KCC Corporation
- Kush Synthetics
- Texas Fiber Group
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Product Type, By Application and By Geography|
|By Product Type||