The total sales of decor paper in India are estimated to be valued at US$ 222.9 million in 2023 and are projected to reach US$ 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 US$ 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 US$ 185.6 million between 2023 and 2033.
Key Industry Attributes
| Industry Size in 2022 | US$ 207.3 million |
|---|---|
| Industry Size in 2023 | US$ 222.9 million |
| Projected Industry Size by 2033 | US$ 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 US$ 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 US$ 207.3 million in 2022, up from US$ 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.
Principal Consultant
| 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 US$ 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 US$ 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 |
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| Key Companies Profiled |
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| Customization and Pricing | Available upon Request |
The adoption of decor paper in India expanded at a CAGR of 4.7% during 2018-2022.
The industry worth of the decor paper in India in 2023 is US$ 222.9 million.
By 2033, the industry size of decor paper in India is anticipated to reach US$ 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.
1. Executive Summary 1.1. Market Outlook 1.2. Market Analysis 1.3. FMI Analysis and Recommendations 1.4. FMI Scorecard 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 2.3. Heat Mapping/Product Mapping 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Sustainable Trends 3.3. Technological Trends 3.4. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Market Demand Analysis 2017 to 2022 and Forecast, 2023 to 2033 5.1. Historical Market Volume (Tonnes) Analysis, 2017 to 2022 5.2. Current and Future Market Volume (Tonnes) Projections, 2023 to 2033 5.3. Y-o-Y Growth Trend Analysis 6. Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Weighted Average Pricing Analysis Benchmark 7. Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033 7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2022 7.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Aluminum Composite Panels Market Overview 8.2. Real Estate Industry Overview 8.3. Pulp and Paper Market Overview 8.4. Customer preference by Size 8.5. Consumer Sentiment Analysis 8.6. Comparative Study for In-house Decor Paper and Contract Decor Paper 8.7. Forecast Factor 8.8. Macro-Economic Factors 8.9. Value Chain Analysis 8.9.1. Exhaustive List of Raw Basis Weight Suppliers 8.9.2. Exhaustive List of Lidding Films Converters/Manufacturers 8.9.3. Exhaustive List of End Users/Customers 8.10. Cased-based Scenario – Impact Assessment 8.10.1. Current Statistics 8.10.2. Short-Mid-Long Term Outlook 8.10.3. Likely Rebound 8.11. Market Dynamics 8.11.1. Drivers 8.11.2. Restraints 8.11.3. Opportunity Analysis 8.12. Supply Demand Analysis 9. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) and Volume (Tonnes) Analysis, By Product, 2017 to 2022 9.3. Current and Future Market Size (US$ Million) and Volume (Tonnes) Analysis and Forecast, By Product, 2023 to 2033 9.3.1. Print Base Paper 9.3.1.1. White Print Base 9.3.1.2. Colour Print Base 9.3.1.2.1. Brown Shade 9.3.1.2.2. Coffee Shade 9.3.1.2.3. Teak Base 9.3.1.2.4. Timber Shade 9.3.1.2.5. Others 9.3.2. Solid Colour 9.3.3. Shuttering Base 9.3.4. Liners 9.3.5. Pre-printed Paper 9.4. Market Attractiveness Analysis, By Product 10. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Basis Weight 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) and Volume (Tonnes) Analysis, By Basis Weight, 2017 to 2022 10.3. Current and Future Market Size (US$ Million) and Volume (Tonnes) Analysis and Forecast, By Basis Weight, 2023 to 2033 10.3.1. 65-80 g/m2 10.3.2. 81-120 g/m2 10.3.3. 120 Above g/m2 10.4. Market Attractiveness Analysis, By Basis Weight 11. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Million) and Volume (Tonnes) Analysis, By Application, 2017 to 2022 11.3. Current and Future Market Size (US$ Million) and Volume (Tonnes) Analysis and Forecast, By Application, 2023 to 2033 11.3.1. Low Pressure Laminates 11.3.2. High-Pressure Laminates 11.3.3. Edge Banding 11.4. Market Attractiveness Analysis, By Application 12. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ Million) and Volume (Tonnes) Analysis, By End Use, 2017 to 2022 12.3. Current and Future Market Size (US$ Million) and Volume (Tonnes) Analysis and Forecast, By End Use, 2023 to 2033 12.3.1. Furniture & Cabinets 12.3.2. Flooring 12.3.3. Paneling 12.3.4. Partition 12.3.5. Store Fixtures 12.3.6. External Cladding 12.4. Market Attractiveness Analysis, By End Use 13. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Zone 13.1. Introduction / Key Findings 13.2. Historical Market Size (US$ Million) and Volume (Tonnes) Analysis, By Zone, 2017 to 2022 13.3. Current and Future Market Size (US$ Million) and Volume (Tonnes) Analysis and Forecast, By Zone, 2023 to 2033 13.3.1. North India 13.3.2. South India 13.3.3. Central India 13.3.4. West India 13.3.5. East India 13.4. Market Attractiveness Analysis, By Zone 14. Market Participants Analysis 14.1. List of Top Available Printers in the Market 14.1.1. Number of Presses 14.1.2. Production Capacity Analysis 14.1.3. Export Overview 14.2. List of Top Available Laminators in the Market 14.2.1. Number of Presses 14.2.2. Production Capacity Analysis 14.2.3. Export Overview 15. Market Structure Analysis 15.1. Market Analysis by Tier of Companies (Market) 15.2. Market Share Analysis of Top Players 15.3. Market Presence Analysis 16. Competition Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Competition Deep Dive/ Portfolio Analysis (Key India-based Market Players) 16.3.1. ITC Limited 16.3.1.1. Overview 16.3.1.2. Product Portfolio 16.3.1.3. Profitability by Market Segments (Product/Channel/Region) 16.3.1.4. Sales Footprint 16.3.1.5. Strategy Overview 16.3.2. Fakirsons Papchem Pvt Ltd 16.3.3. Shah International 16.3.4. Ahlstrom-Munksjö Oyj 16.3.5. Felix Schoeller 16.3.6. Pudumjee Paper Products 16.3.7. Fortune Paper Mills 16.3.8. I.DECOR Exp.Imp Co., Ltd 16.3.9. WestCoast Paper Mills. 16.3.10. Andhra Paper Limited 16.3.11. SILVERTON PULP & PAPERS PVT. LTD. 16.3.12. Toppan Holdings Inc. *The above list is indicative in nature and is subject to change during the course of research 17. Assumptions and Acronyms Used 18. Research Methodology
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Decor Paper Industry Analysis in India
