Hardware & Building Materials - ASEAN

In ASEAN, the Hardware & Building Materials market generated a revenue of US$94.65bn in 2024.
It is projected to experience an annual growth rate of 2.46% (CAGR 2024-2029).
When compared globally, China leads the market with a revenue of US$525bn in 2024.
In terms of per capita figures, each individual in ASEAN contributed US$136.90 in revenue in 2024.
The hardware and building materials market in Singapore is experiencing a surge in demand due to ongoing construction projects and infrastructure development.

Definition:

The Hardware & Building Materials segment includes a diverse range of products that play an important role in the structure, safety, and functionality of a building. In terms of hardware, this includes various items relating to doors, cabinets, floors, and garage accessories. Also included in this category are products related to home safety and security. Building materials cover products related to key components of home improvement such as doors, walls, ceilings, and windows, as well as concrete, cement, and masonry.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. This segment does not include floor covering, which is shown separately in the Floor Covering segment of the DIY market. For more information on the displayed data, click the info button on the right hand side of each box.

Hardware
Building supplies

Hardware services
Construction activities

The Hardware & Building Materials Market in ASEAN nan is experiencing slow growth, impacted by factors such as weak consumer demand, low investments, and stiff competition. Despite negligible growth, the market has potential for expansion with the rising demand for home improvement and renovation projects.

Customer preferences: As the ASEAN region continues to experience rapid urbanization and economic growth, consumers are becoming more focused on modernizing and upgrading their homes. This has led to an increased demand for innovative and high-quality hardware and building materials, particularly those that promote energy efficiency and sustainability. With the rising awareness of environmental concerns, consumers are also showing a preference for eco-friendly and green building products. In addition, there is a growing trend towards DIY home improvement projects, driven by the desire for personalization and cost savings. As such, DIY and hardware stores are expanding their product offerings to cater to this evolving consumer behavior.

Trends in the market: In ASEAN, there is a growing demand for green and sustainable building materials, driven by increasing awareness of environmental sustainability and government regulations. This trend is expected to continue, with a projected compound annual growth rate of 6.5% in the region's green building materials market by 2025. As consumers become more environmentally conscious, DIY and hardware stores will need to stock and promote eco-friendly products to stay competitive and cater to this demand. Additionally, the adoption of advanced technologies and automation in the hardware and building materials market is also on the rise, making operations more efficient and cost-effective. This trend is expected to continue, with a projected 8.3% compound annual growth rate in the ASEAN region's hardware and building materials market by 2025. Industry players will need to keep up with advancements in technology to stay competitive and meet evolving consumer demands.

Local special circumstances: In ASEAN, the Hardware & Building Materials Market within the DIY & Hardware Store Market has seen significant growth due to a combination of factors, including increasing urbanization, infrastructure development, and rising consumer purchasing power. In Thailand, the market is driven by the country's booming construction industry, while in Indonesia, the market is influenced by the high demand for affordable housing solutions in densely populated urban areas. In Malaysia, the market is shaped by government policies promoting sustainable building practices, leading to a growing demand for eco-friendly building materials. These unique local factors play a significant role in shaping the Hardware & Building Materials market dynamics in the DIY & Hardware Store Market in ASEAN.

Underlying macroeconomic factors: The growth of the Hardware & Building Materials Market within the DIY & Hardware Store Market in ASEAN is influenced by macroeconomic factors such as economic growth, government policies, and investments in infrastructure. Countries with strong economic growth and supportive fiscal policies are seeing higher demand for hardware and building materials, as construction and home improvement activities increase. Similarly, regions with favorable investment climates and a rise in DIY culture are also experiencing growth in the market. Rising urbanization and increasing disposable incomes are further contributing to the demand for hardware and building materials in ASEAN.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

For those who want to start a do-it-yourself project to improve their home or give it a new style, the Home Depot might be considered a shopping paradise. Whether consumers prefer to buy in-store or online, the Home Depot offers a wide range of products such as appliances, building materials, hardware, indoor garden furniture, paint, kitchen, and bath decorating items, among other important products for home improvement projects. With stores across North America, the company is the leading DIY and home improvement chain in the United States and Canada. By the end of the fiscal year 2023, Home Depot had generated over 152 billion U.S. dollars in revenue, and its revenue in the previous year placed it as the home improvement leader worldwide.