Floor Covering - Argentina

Argentina

Highlights

In Argentina, the revenue in the Floor Covering market reaches US$168.70m in 2024.
It is projected to experience an annual growth rate of 2.39% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue, amounting to US$6bn in 2024.
To put it into perspective, in Argentina, each person generates per person revenues of US$3.66 in 2024.
The demand for traditional Argentinean handwoven rugs is experiencing a resurgence in the local floor covering market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Floor Covering Market in the DIY & Hardware Store Market in Argentina is experiencing minimal growth, influenced by factors such as low consumer interest, limited product innovation, and competitive pricing. Despite this, the market is expected to gradually expand as the economy strengthens.

Customer preferences: As more Argentinians prioritize sustainability and environmentally-friendly options, the Floor Covering Market within the DIY & Hardware Store Market has seen a rise in demand for eco-friendly and renewable materials such as bamboo and cork. This trend is further fueled by the country's growing middle class, who are increasingly investing in home renovation projects. Additionally, the popularity of DIY culture in Argentina has led to a rise in sales of easy-to-install flooring options, such as click-lock tiles and planks.

Trends in the market: In Argentina, the Floor Covering Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable options, as consumers become more environmentally conscious. This trend is expected to continue as government regulations put a stronger emphasis on sustainable practices in the construction industry. Industry stakeholders should consider investing in eco-friendly products and promoting their sustainability efforts to appeal to this growing market segment. Additionally, there is also a shift towards online sales and digital marketing in this market, presenting opportunities for businesses to expand their reach and improve customer engagement. As such, companies should consider investing in e-commerce platforms and digital marketing strategies to stay competitive in this evolving market.

Local special circumstances: In Argentina, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by the country's economic fluctuations and changing consumer trends. With a strong DIY culture and attraction towards home improvement projects, Argentinians prefer affordable and easy-to-use floor covering solutions. Additionally, government regulations on imported materials and preference for locally made products impact the market's competitive landscape. These unique factors shape the demand for floor covering products in Argentina, setting it apart from other international markets.

Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Argentina is affected by macroeconomic factors such as economic stability, government policies, and consumer spending. The overall economic health of the country, as well as global economic trends, have a significant impact on the market's performance. Moreover, fiscal policies and financial indicators such as inflation, interest rates, and exchange rates also play a crucial role in shaping the market landscape. Additionally, as the housing market in Argentina continues to grow, there is a rising demand for floor covering products in the DIY & Hardware Store Market, further driving the market growth.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.