What Has Been the Progress and Growth of the Shop Fitting Material Market in Recent Years?
The shop fitting material market has seen considerable growth due to a variety of factors.
• The shop fitting material market is expected to grow from $147.28 billion in 2024 to $157.16 billion in 2025 at a CAGR of 6.7%.
The growth in the historic period is driven by rising consumer expectations, the growth in shopping mall developments, an increase in the number of retail chains, the popularity of specialty stores, and the growth of e-commerce stores.
How Does the Forecast Look for the Shop Fitting Material Market?
The shop fitting material market is expected to maintain its strong growth trajectory in upcoming years.
• The shop fitting material market is expected to grow to $202.16 billion by 2029, at a CAGR of 6.5%.
Growth factors include the increase in retail spaces, the expansion of supermarkets and hypermarkets, rising luxury retail stores, eco-friendly material trends, and more pop-up stores. Trends include the integration of smart technology, modular design implementations, advancements in 3D printing, the use of lightweight materials, and the integration of digital signage.
What Are The Leading Drivers Of Growth In The Shop Fitting Material Market?
The growth of the shop-fitting material market is predicted to advance due to the rising number of retail establishments. Retail establishments range from specialty stores, department stores, convenience stores, and supermarkets, and these businesses sell products to customers directly. Shopping malls' expansion, enhanced consumer expenditure, and urban development invigorate retail stores. Shop-fitting materials amplify the appeal of retail shops, simplify space management, bolster sales and satisfaction, back a businesses' brand identity and improve customer navigation. For example, the National Association of Convenience Stores, a U.S. international association for fuel and convenience retailing, noted in January 2024 an estimated surge in the count of convenience stores from 150,174 in 2023 to 152,396 in 2024, implying a 1.5% growth in shop count. Hence, the escalation in retail stores' number is propelling the shop-fitting material market.
How Are The Segments Defined Within The Global Shop Fitting Material Market?
The shop fitting material market covered in this report is segmented –
1) By Material: Laminates And Woods, Plastic, Metals, Other Materials
2) By Usage: Counters, Furniture, Display, Shelves, Other Usages
3) By Price: Low, Medium, High
4) By Customer Type: Retailers, Architects, Contractors, Other Customers
5) By End User: Clothing And Fashion Stores, Jewelry Stores, Pharmaceuticals Stores, Grocery Stores, Food And Beverage Cafés, Furniture Stores, Optical Stores, Other End Users
Subsegments:
1) By Laminates And Woods: High-Pressure Laminates (HPL), Decorative Laminates, MDF (Medium Density Fiberboard), Plywood And Veneers, Solid Wood Panels
2) By Plastic: Acrylic Sheets, PVC (Polyvinyl Chloride), Polycarbonate, High-Density Polyethylene (HDPE), ABS (Acrylonitrile Butadiene Styrene)
3) By Metals: Stainless Steel, Aluminum, Brass And Bronze, Mild Steel, Galvanized Steel
4) By Other Materials: Glass, Stone (Marble, Granite), Textiles And Fabrics, Composite Materials (Fiberglass), Bamboo And Eco-Friendly Materials
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What Emerging Trends Are Influencing The Growth Of The Shop Fitting Material Market?
Key players in the shop fitting materials market, such as Woodoo, are leveraging augmented wood to revitalize interior spaces, thereby boosting the aesthetic value, durability, and functionality of retail settings. A blend of conventional wood and cutting-edge technology such as embedded sensors and digital printing, augmented wood facilitates the creation of remarkable designs while also enhancing performance. For instance, in January 2022, Woodoo, a France-based firm known for providing stellar material substitutes for leather, steel, glass, and plastics, initiated LIGHTR. LIGHTR, a wall lighting solution covered in wood, is specifically designed to augment shop fittings and retail spaces. The authentic wooden finish imparts a natural warmth, fostering a comfortable ambiance that lures customers and effectively draws attention to products. LIGHTR, a modular system, can be seamlessly integrated into walls coated with SLIM, Woodoo's patented translucent wood, or employed as decorative lighting to invigorate interior spaces. The system's modularity permits flexible adaptation and personalization to cater to diverse design requirements.
Who Are the Key Players In The Shop Fitting Material Market?
Major companies operating in the shop fitting material market are:
• Leggett & Platt Incorporated
• Hovnanian Enterprises Inc.
• HMY Group
• Haworth Inc.
• Carter Holt Harvey Limited
• Surteco GmbH
• Madix Inc.
• Draper Inc.
• Appvion LLC
• Pan-Oston B.V.
• Stylmark Inc.
• Jacobs Joinery and Shopfitters
• ARNO GmbH
• Trion Industries Inc.
• Visplay GmbH
• Storflex Fixture Corporation
• Barnwood Group Ltd
• Stellex Capital Management LLC
• Tegometall International AG
• TECNARO GmbH
• Australian Plastic Fabricators Pty Ltd
• GCD Concepts Pty Ltd
• Wood 'N' Stamp Shopfitting Pty Ltd
What Is The Most Dominant Region In The Shop Fitting Material Market?
Asia-Pacific was the largest region in the shop fitting material market in 2023. The regions covered in the shop fitting material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
