Expansion of the retail sector to fuel the demand for customized shopfitting materials market
Selbyville, Delaware, United States, November 5 2020 (Wiredrelease) Global Market Insights, Inc –:As per a research report by Global Market Insights, Inc., global customized shopfitting materials market size is projected to reach an annual valuation of more than US$180 billion by 2025, with growing adoption of these products across supermarkets and hypermarkets.
Customized shopfitting products and materials are experiencing increasing popularity, with growing use of trendy furniture to provide an aesthetic look and for additional storage space. These products mainly include customized furniture, counters, shelves, displays, and other items. The demand for customized interior products has increased considerably and manufacturers are focusing on providing a wide variety of tailored solutions for offices, retail outlets, restaurants, and reception desks in commercial and leisure spaces.
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The range of modern customized shopfitting solutions includes plastic, wood, metal, laminates, decorative foils, and decorative films. Customized decorative films market size will be worth over US$6.5 billion by 2025. These films can be printed to feature logos, text, or other graphics, and provide added privacy as they are combined with safety and security films. They also protect furniture, equipment, and stock from fading due to sun radiation and other factors.
Customized shopfitting materials market size from flooring application is projected to hit US$20.5 billion by 2025. With increasing number of nuclear families in urban areas, the need for greater retail shop space has also increased. This in turn has The need for resilient flooring materials such as rubber, cork, resins, vinyl, and linoleum on account of lower prices, easy installation, durability and moisture resistance.
Considering the end-user, the demand for customized shopfitting products across gymnasiums is likely to grow at a CAGR of 3% through 2025. An increasing number of gyms are installing tailored flooring solutions to meet the aesthetic as well as functional needs. Metal panels are widely used in gyms to keep equipment in place and prevent damage. The rising incidence of obesity and related health problems globally will positively impact the industry outlook in the near future.
From a regional point of view, U.K. customized shopfitting materials market size form display application is projected to witness a CAGR of more than 3.5% through 2025. This can be mainly attributed to growing use of mannequins in commercial stores to display products and boost customer engagement. Mannequins serve as a visual merchandizer for displaying information of products such as clothing, footwear, jewels, and others.
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Meanwhile, China customized shopfitting materials industry size is likely to surpass US$25 billion by 2025, with increasing number of retail chains in the region. Growing urbanization and a sharp rise in people’s purchasing powers have encouraged retailers to expand their business operations nationwide. These products are being largely used in retails stores to properly organize items and provide an enhanced shopping experience to customers.
Mounting environmental concerns and stricter environmental regulations regarding deforestation may restrict wood production in the forthcoming years. These factors, along with increasing soil erosion may negatively impact the product demand.
However, increased expenditure on airport infrastructure on account of rising passenger traffic and tourism will bolster the industry outlook. In addition, increasing number of retail chains and the entry of new players in the market will augment customized shopfitting materials market forecast.
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