Floor Covering - Burkina Faso

Burkina Faso

Highlights

In Burkina Faso, revenue in the Floor Covering market reaches US$1.33m in 2024.
It is projected to experience an annual growth rate of 4.08% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this market, amounting to US$6bn in 2024.
In terms of per capita income, each person in Burkina Faso generates revenues of US$0.06 in 2024.
Burkina Faso's floor covering market is witnessing a surge in demand for locally sourced, eco-friendly materials.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Floor Covering market in Burkina Faso within the DIY & Hardware Store market is experiencing negligible growth. This can be attributed to lower consumer spending, competition from informal markets, and limited awareness of DIY concepts.

Customer preferences: As technology continues to advance, consumers in Burkina Faso are increasingly turning to online resources for home improvement projects and repairs, leading to a rise in demand for DIY tutorials and instructional videos. This trend is driven by the convenience and cost-effectiveness of DIY solutions, as well as the desire for self-sufficiency and creativity. Additionally, with the growing younger population and increasing urbanization, there is a shift towards smaller living spaces, leading to a preference for more versatile and space-saving floor covering options.

Trends in the market: In Burkina Faso, the Floor Covering Market within the DIY & Hardware Store Market is witnessing a rise in eco-friendly and sustainable flooring options. Consumers are becoming more conscious of their environmental footprint and are opting for materials such as bamboo, cork, and reclaimed wood. This trend is expected to continue, as government initiatives and consumer awareness programs drive the demand for green products. This could have significant implications for industry stakeholders, as they may need to adapt their sourcing and marketing strategies to cater to the changing preferences of consumers.

Local special circumstances: In Burkina Faso, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by the country's largely rural population, as well as its developing economy. The market is primarily driven by the need for affordable and durable flooring solutions, as well as the rise in home renovation projects. Unlike in other markets, the lack of access to traditional building materials and skilled labor has led to a growing demand for alternative flooring options, such as self-adhesive tiles and laminate flooring. Additionally, the country's strict import regulations and limited availability of imported materials have also shaped the market, with locally-sourced products dominating the market.

Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Burkina Faso is impacted by macroeconomic factors such as the country's economic stability, fiscal policies, and global economic trends. As a developing nation, Burkina Faso's economic growth and consumer spending power have a significant impact on the overall market performance. Additionally, government investments in infrastructure development and promoting DIY and home improvement activities are key factors influencing the demand for floor coverings in the retail sector. Furthermore, the increasing urbanization and rising middle-class population in the country are driving the growth of the DIY and hardware store market, which, in turn, is fueling the demand for floor coverings.

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.