The total sales of decor paper in India are estimated to be valued at USD 222.9 million in 2023 and are projected to reach USD 448.5 million by 2033. Sales revenue is anticipated to expand at a CAGR of 7.2% over the forecast period (2023 to 2033).
The overall industry in India was valued at around USD 207.3 million at the end of 2022 and is anticipated to exhibit year-on-year (Y-o-Y) growth of 7.5% in 2023. The furniture and cabinets segment, by end use, is poised to account for over 40% industry share in terms of value by the end of 2022 globally.
The print base paper segment, with an estimated industry share of more than 45%, leads the India decorative paper industry within the material category and is expected to expand at a CAGR of almost 5.5% over the forecast period. In terms of application, the low-pressure laminates segment is anticipated to create an incremental opportunity of USD 185.6 million between 2023 and 2033.
Key Industry Attributes
| Industry Size in 2022 | USD 207.3 million |
|---|---|
| Industry Size in 2023 | USD 222.9 million |
| Projected Industry Size by 2033 | USD 448.5 million |
| Estimated Value CAGR (2023 to 2033) | 7.2% |
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The demand for decor paper in India is expected to experience a lucrative growth outlook during the forecast period.
Our recent estimates predict that sales could witness a significant increase during 2023 to 2033 and are further projected to generate an attractive incremental growth opportunity of USD 241.3 million, doubling the current industry value by the end of the forecast period.
The adoption of decor paper in India expanded at a CAGR of 4.7% during the historic period, with an industry value of USD 207.3 million in 2022, up from USD 172.8 million in 2018.
The Indian real estate industry witnessed an increasing trend of renovation and refurbishment projects, contributing to the expansion of the decor paper industry.
The expansion of the retail landscape in India, marked by the opening of new shopping malls, showrooms, and home decor stores, has provided a wider platform for decor paper products to reach consumers. Additionally, the rise of eCommerce has further enhanced accessibility and convenience for consumers to purchase decor paper products online. Consequently, this has played a significant role in helping the industry grow.
| Particular | Value CAGR from 2023 to 2033 |
|---|---|
| H1 | 7.0% (2022 to 2032) |
| H2 | 6.9% (2022 to 2032) |
| H1 | 7.2% (2023 to 2033) |
| H2 | 7.4% (2023 to 2033) |
Decor paper is gaining traction in the furniture and cabinet industry due to several factors, including affordability, versatility, durability, sustainability, and aesthetic appeal. Its cost-effectiveness makes it an attractive option for manufacturers seeking to produce appealing products with limited expenditure.
Additionally, the versatility of decor paper allows for a wide array of designs and finishes, catering to diverse tastes and preferences. Moreover, its durability ensures that it can withstand everyday wear and tear, making it suitable for long-lasting furniture and cabinets.
End-use cases within flooring, paneling, and store fixtures are also witnessing rising levels of demand for decor paper. This is owing to the growing industry for aesthetically appealing interiors, increasing urbanization, and a rising trend toward customized and modern home furnishings.
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The trend of incorporating metallic accents and luxurious finishes in the decor paper industry has gained popularity in recent times, especially in India. Designers have been infusing gold, silver, and copper tones into patterns that not only make them visually attractive but also induce a sense of lavishness.
Moreover, the trend is extending to textured papers with metallic undertones, providing consumers with a visually appealing experience. These products cater to the growing number of luxurious households across the country.
India's rapidly expanding economy has been drawing both domestic and foreign investment. This has subsequently resulted in an increase in high-net-worth people (HNIs) and ultra-high-net-worth individuals (UHNIs). Consequently, this is driving the industry for luxury houses, simultaneously boosting the demand for decor paper in India.
| Product Type | Value CAGR from 2023 to 2033 |
|---|---|
| Print Base Paper | 5.8% |
| Solid Color | 8.9% |
Based on the product type, the print-based paper segment is anticipated to hold around 45% of the industry share in 2023. This is owing to advancements in printing technology, which have enabled the production of high-quality print-based decor paper with realistic textures and finishes.
Moreover, print-based decor paper is forecasted to lead the demand for decor paper in India throughout the study period driven by its versatility and visual appeal, accounting for about 40% of the industry share by 2033. The notable decline is anticipated in the forecast period due to evolving consumer preferences, technological advancements, and an increasing shift towards customizable and digitally printed solutions.
| Applications | Value CAGR from 2023 to 2033 |
|---|---|
| Low Pressure Laminates | 6.9% |
| High Pressure Laminates | 8.7% |
The low-pressure laminates segment is expected to lead the decor paper industry in India due to its lower cost, ease of manufacture, and a wide range of applications. The market for low-pressure laminates is mainly being driven by the growing demand for affordable and durable solutions across various industries, including furniture, cabinetry manufacturing, and interior design, among others.
Consequently, the segment is poised to generate an incremental opportunity of USD 185.6 million by 2033. Currently, edge banding holds the minimum industry share primarily due to its specific and niche application within the broader decor paper industry. However, edge banding is anticipated to be the rapidly growing segment, expanding at a CAGR of 9.2% until 2033.
The key manufacturers operating in the Indian decor paper industry are focusing on increasing their production capacity to meet the rising demand for decor paper in India. Moreover, these key players are expanding their product portfolios to cater to the growing demand from urban households. The Indian decor paper industry is highly competitive, with several key players operating in the market.
Key Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.2% from 2023 and 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Tonnes and CAGR from 2023–2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis of Decor Paper in India |
| Segments Covered | Product Type, Basis Weight, Application, End Use, Zone |
| Key Companies Profiled | ITC Limited; Fakirsons Papchem Pvt Ltd; Shah International; Ahlstrom-Munksjö Oyj; Felix Schoeller India; Pudumjee Paper Products; Fortune Paper Mills; I.DECOR Exp.Imp Co., Ltd; WestCoast Paper Mills.; Andhra Paper Limited; SILVERTON PULP & PAPERS PVT. LTD.; Toppan Holdings Inc. |
| Customization and Pricing | Available upon Request |
The adoption of decor paper in India expanded at a CAGR of 4.7% during 2018 to 2022.
The industry worth of the decor paper in India in 2023 is USD 222.9 million.
By 2033, the industry size of decor paper in India is anticipated to reach USD 448.5 million.
The industry is experiencing expansion due to rapid urbanization across the country which is influencing growth in the housing sector.
The top 3 players operating in the India decor paper industry are ITC Limited, Westcoast Paper Mills, Toppan Inc.
| Estimated Size, 2024 | USD 5,195.2 million |
|---|---|
| Projected Size, 2034 | USD 7,555.5 million |
| Value-based CAGR (2024 to 2034) | 3.8% |
| Market Size, 2024 | USD 16.8 billion |
|---|---|
| Market Size, 2034 | USD 21.2 billion |
| Value CAGR (2024 to 2034) | 2.4% |
| Market Estimated Size (2023E) | USD 1,025.2 million |
|---|---|
| Projected Market Valuation (2032F) | USD 1,406.4 million |
| Value-based CAGR (2023 to 2032) | 3.7% |
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Decor Paper Industry Analysis in India
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