Hardware & Building Materials - BRICS

In 2024, the Hardware & Building Materials market in BRICS countries is projected to generate a revenue of US$728.40bn.
This market segment is expected to experience an annual growth rate of 1.79% (CAGR 2024-2029).
Among the BRICS nations, China leads the way with the highest revenue of US$525bn in 2024.
Taking into account the total population figures, the per person revenue in the Hardware & Building Materials market is estimated to be US$220.90 in 2024.
In Brazil, there is a growing demand for sustainable building materials as the country focuses on reducing its environmental impact.

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 BRICS nan has been experiencing minimal growth, influenced by factors such as slow adoption of digital technologies, low health awareness among consumers, and limited online services. This stagnant growth is impacted by economic and cultural factors surrounding the DIY & Hardware Store Market.

Customer preferences: With the global focus on sustainable development and environmental conservation, there has been a growing preference for eco-friendly and energy-efficient products in the Hardware & Building Materials Market within the DIY & Hardware Store Market. Consumers are increasingly opting for green building materials and energy-saving tools, such as solar panels and LED lighting. This shift is also driven by changing lifestyles, with more individuals looking to reduce their carbon footprint and adopt a more sustainable approach to home improvement. Additionally, the rise in DIY culture has led to a demand for durable, high-quality hardware and building materials that can withstand multiple uses and repairs.

Trends in the market: In the BRICS countries, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This trend is being driven by increasing awareness of environmental issues and consumer demand for more environmentally friendly options. Companies are investing in research and development to create innovative products that use recycled materials or have a lower carbon footprint. This trend has significant implications for industry stakeholders, as it presents opportunities for market growth and increased consumer loyalty. Furthermore, it may also lead to increased regulations and standards for sustainable products, forcing companies to adapt and innovate to remain competitive in the market.

Local special circumstances: In South Africa, the Hardware & Building Materials Market within the DIY & Hardware Store Market is shaped by the country's housing deficit and the government's focus on affordable housing. This has led to a growing demand for cost-effective construction materials, resulting in the popularity of eco-friendly and low-cost building solutions. Additionally, the country's diverse cultural influences have led to a variety of architectural styles and preferences, impacting the types of hardware and building materials in demand.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market is impacted by several macroeconomic factors in BRICS countries. These include economic stability, government policies, and global trade. Markets with stable economies and favorable government policies, such as Brazil and China, are experiencing higher growth in this sector. Additionally, increased urbanization and rising disposable income are driving the demand for DIY and hardware products in BRICS countries, further boosting market growth. However, fluctuating global economic conditions and trade tensions could possibly pose challenges to 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.

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.