Floor Covering - Kazakhstan

Kazakhstan

Highlights

In Kazakhstan, the revenue generated in the Floor Covering market is US$13.75m in 2024.
It is projected to experience an annual growth rate of 4.30% (CAGR 2024-2029).
When compared globally, United States leads in revenue generation with US$6bn in 2024.
Taking into account the total population, per person revenues amount to US$0.69 in 2024.
"Kazakhstan's floor covering market is witnessing a surge in demand for traditional Kazakh rugs, reflecting a growing interest in preserving the country's cultural heritage."

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Floor Covering Market in the DIY & Hardware Store Market in Kazakhstan nan is experiencing negligible growth, impacted by factors such as limited demand and supply issues. Customers are increasingly utilizing online shopping due to convenience and accessibility.

Customer preferences: Consumers in Kazakhstan are becoming more aware of the benefits of eco-friendly and sustainable products, especially when it comes to home renovations. As a result, there is a growing demand for eco-friendly and natural flooring options within the DIY & Hardware Store Market. This trend is largely influenced by the increasing emphasis on environmental protection and the desire to create a healthier living space. Furthermore, with a growing middle class and increasing disposable income, consumers are also willing to invest in premium and high-quality flooring products that align with their values.

Trends in the market: In Kazakhstan, the Floor Covering Market within the DIY & Hardware Store Market is experiencing a trend towards eco-friendly and sustainable flooring options. This trend is driven by increasing consumer awareness and demand for environmentally-friendly products. Industry stakeholders are responding by offering a wider range of eco-friendly flooring options and promoting green building practices. Going forward, this trend is expected to continue, with potential implications for industry stakeholders including increased competition and the need to adapt to changing consumer preferences.

Local special circumstances: In Kazakhstan, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by the country's vast geography, with a wide range of climatic conditions from the cold and dry regions in the north to the hot and humid climate of the south. This has led to a diverse demand for flooring materials, with different regions favoring specific types of floor coverings. Additionally, Kazakhstan has a strong appreciation for traditional craftsmanship, with a large market for handmade and locally sourced floor coverings. This adds a cultural aspect to the market dynamics, as consumers place a high value on unique and authentic products. Furthermore, the regulatory environment in Kazakhstan favors domestic production, providing an advantage to local manufacturers in the floor covering market.

Underlying macroeconomic factors: The growth of the Floor Covering Market within the DIY & Hardware Store Market in Kazakhstan is also influenced by macroeconomic factors such as overall economic trends, government policies, and financial indicators. The national economy and consumer confidence greatly impact the demand for new floor coverings, as well as the availability of construction and home improvement loans. Changes in global economic conditions, such as fluctuations in commodity prices and trade policies, can also have a significant impact on the market's performance.

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.