An Overview of India Decor Paper Industry from 2023 to 2033
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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Key Highlights
Print base decor paper revolution! The integration of advanced printing technologies has revolutionized print base decorative craft paper, offering intricate patterns and high-resolution designs.
Customization trend on the rise! Consumers increasingly prefer customizable decorative paper solutions, driving manufacturers to offer a wide range of design choices and sizes.
eCommerce boosting industry accessibility! The rise of eCommerce platforms has made decor paper more accessible to a broader audience, further fueling demand for decor paper in India.
Eco-friendly options gaining ground! The shift toward eco-friendly products has opened opportunities for decor paper manufacturers offering sustainable and recyclable options.
Solid color decor paper trends! Solid color decor paper is experiencing a resurgence in popularity, driven by a minimalist aesthetic and the demand for bold, vibrant interior accents.
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.
Demand Outlook of Decor Paper in India from 2018 to 2022
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.
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Semi Annual Industry Update
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)
Insight into End Use Industries Impacting Sales of Decor Paper in India
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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Outline of Important Trends Shaping the Demand for Decor Paper in India
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.
Comparative View of Adjacent India Decor Paper Market
The table below compares the adoption of decor paper in India with the consumption of decor paper in Europe and the entire global decor paper market. Even though Europe acquires the maximum share of the industry, the industry in India is projected to showcase a much higher CAGR than that of Europe.
India Decor Paper Industry:
Attributes
India Decor Paper Industry
CAGR (2023 to 2033)
7.2%
Market Value (2023)
US$ 222.9 million
Growth Factor
The expansion of the real estate industry and burgeoning construction sectors serve as pivotal drivers for the decor paper industry in India.
Key Trend
Owing to a heightened emphasis on safety and durability, there is a trend toward decor papers engineered with enhanced fire resistance and chemical durability.
Global Décor Paper Market:
Attributes
Global Décor Paper Market
CAGR (2023 to 2033)
5.3%
Market Value (2023)
US$ 4.84 billion
Growth Factor
Advanced and stylish flooring and interior solutions along with its lamination applications are fueling the sales of décor paper across the globe.
Key Trend
The decorative shredded paper and its wider applications are shaping new trends in the market.
Europe Décor Paper Industry:
Attributes
Europe Décor Paper Industry
CAGR (2023 to 2033)
3.7%
Market Value (2023)
US$ 1,025.2 million
Growth Factor
Advancements in digital printing technology have enabled the production of high-quality and intricate designs on décor paper, which has expanded the applications of these papers beyond traditional laminates.
Key Trend
Decor paper is being made from sustainable materials such as recycled paper or wood from responsibly managed forests, which is set to aid sales.
Insight into Key Product Types Stimulating 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.
Outlook of Key Applications in the India Decor Paper Industry
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.
Competitive Landscape
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
The Indian Ministry of Commerce & Industry, under the Government of India, has launched an anti-dumping investigation into the import of Decor Paper from China. This action follows a petition submitted by ITC Limited, citing alleged material injury to the domestic industry resulting from dumped imports of Decor paper from China. ITC Limited has formally requested the imposition of anti-dumping duties on imports of Decor Paper from China.
The Board of Directors of Ahlstrom-Munksjö Holding 3 Oy has approved a plan for ownership reorganization. As per the plan, the production assets, debts, and liabilities associated with its Decor business is going to be transferred from Ahlstrom-Munksjö Holding 3 Oy to a newly established company named Munksjö, without going through the process of liquidation.
The official inauguration of the new converting site for digital printing media in Mumbai, India, took place with a small internal ceremony. This center has been established from the ground up to develop modern converting capacities for Felix Schoeller India, the Indo-German joint venture. Many departments have already transitioned to the new facility, and over the next few months, machinery and capacities are going to be established. An official opening ceremony, including customers and partners, is planned to follow in the coming months.
Scope of Report
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
At What rate did the Adoption of Decor Paper in India expanded during 2018-2022?
The adoption of decor paper in India expanded at a CAGR of 4.7% during 2018-2022.
What is the Worth of the India Decor Paper Industry in 2023?
The industry worth of the decor paper in India in 2023 is US$ 222.9 million.
By 2033, What will the Industry Size be for Decor Paper in India?
By 2033, the industry size of decor paper in India is anticipated to reach US$ 448.5 million.
What is the Prominent Driver for the India Decor Paper Industry?
The industry is experiencing expansion due to rapid urbanization across the country which is influencing growth in the housing sector.
Who are the Top 3 Players Operating in the India Decor Paper Industry?
The top 3 players operating in the India decor paper industry are ITC Limited, Westcoast Paper Mills, Toppan Inc.
Table of Content
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 Used18. Research Methodology
List of Tables
Table 01: Market Volume (Tonnes) By Product, 2018H to 2033F
Table 02: Market Value (US$ Million) By Product, 2018H to 2033F
Table 03: Market Volume (Tonnes) by Basis Weight, 2018H to 2033F
Table 04: Market Value (US$ Million) by Basis Weight, 2018H to 2033F
Table 05: Market Volume (Tonnes) by Application, 2018H to 2033F
Table 06: Market Value (US$ Million) by Application, 2018H to 2033F
Table 07: Market Volume (Tonnes) by End Use, 2018H to 2033F
Table 08: Market Value (US$ Million) by End Use, 2018H to 2033F
Table 09: Market Volume (Tonnes) by Zone, 2018H to 2033F
Table 10: Market Value (US$ Million) by Zone, 2018H to 2033F
List of Charts
Figure 01: Market Value Analysis (US$ Million) and Volume Analysis (Tonnes) Projection (2018H to 2022A)
Figure 02: Market Value Analysis (US$ Million) and Volume Analysis (Tonnes) Projection (2023E to 2033F)
Figure 03: Market Incremental $ Opportunity (US$ Million) (2018H to 2033F)
Figure 04: Market Share Analysis, by Product, 2023E to 2033F
Figure 05: Market Attractiveness Analysis, by Product, 2023E to 2033F
Figure 06: Market Y-o-Y Growth Analysis, by Product, 2019H to 2033F
Figure 07: Market Share Analysis, by Basis Weight, 2023E to 2033F
Figure 08: Market Attractiveness Analysis, by Basis Weight, 2023E to 2033F
Figure 09: Market Y-o-Y Growth Analysis, by Basis Weight, 2019H to 2033F
Figure 10: Market Share Analysis, by Application, 2023E to 2033F
Figure 11: Market Attractiveness Analysis, by Application, 2023E to 2033F
Figure 12: Market Y-o-Y Growth Analysis, by Application, 2019H to 2033F
Figure 13: Market Share Analysis, by End Use, 2023E to 2033F
Figure 14: Market Attractiveness Analysis, by End Use, 2023E to 2033F
Figure 15: Market Y-o-Y Growth Analysis, by End Use, 2019H to 2033F
Figure 16: Market Share Analysis, by Zone, 2023E to 2033F
Figure 17: Market Attractiveness Analysis, by Zone, 2023E to 2033F
Figure 18: Market Y-o-Y Growth Analysis, by Zone, 2019H to 2033F
