As cited by the business intelligence report titled ‘Global Wall Panel Market Size study, by Material (Metal, Polyvinyl chloride (PVC), Wood, Medium density fiberboard (MDF), Others), by Type (Standard (Flat), 3D Wall Panels) and Regional Forecasts 2020-2027’, available with Market Study Report, global wall panel market is set to grow significantly during the analysis period 2020-2027.
 

Worldwide wall panel market growth can largely be attributed to rising number of construction activities, increasing establishment of households, and growing investments towards home décor products.
 

For those unfamiliar, a wall panel is a material which is generally cut into rectangular shapes and used as the visible and exposed covering for the wall. It possesses soundproofing as well as insulating properties, and helps in reducing overall cost of construction. of Besides this, biodegradability, recyclable, and environment-friendly characteristics are other advantages that will continue to stimulate  product demand in the upcoming years.
 

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Elaborating on the latest developments, the COVID-19 pandemic has negatively impacted global wall panel market expansion, as the rapid spread of the virus has compelled governments to impose temporary restrictions on construction activities. Additionally, availability of alternative products is expected to hinder business development during the study period.
 

Based on material, global wall panel market is divided into MDF (medium density fiberboard), wood, PVC (polyvinyl chloride), and metal among others. Speaking of product type, the market is bifurcated into3D wall panels and standard (flat).
 

Moving on to geographical scope, North America accounts for a significant portion of global wall panel market share, owing to strong presence of manufacturers and heavy expenditure on home décor products.
 

On the other hand, Asia-Pacific market grow tremendously during the stipulated timeframe, creditable to rapid urbanization coupled with increasing number of residential and commercial construction projects in the region.

Top companies influencing global wall panel market trends are Vicoustic, Armstrong World Industries, Inc., Celenit Isolanti Naturali, Caimi Brevetti S.p.A, Wizard+Genius AG, Ideal Décor, WallDecor3D, Rona, Inc., Fasade Ideas (Acoustic Ceiling Products, LLC.), and Eurocoustic Products Ltd.