The Hardware & Building Materials Market in Jordan has been experiencing a negligible growth rate due to factors such as slow economic growth, limited government spending on infrastructure, and low consumer confidence. However, increasing demand for DIY products and convenience offered by hardware stores is expected to drive growth in the future.
Customer preferences: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Jordan has seen a rise in demand for eco-friendly and sustainable products. This trend is driven by increasing awareness of environmental issues and a desire to reduce carbon footprint. Consumers are actively seeking out products made from recycled materials or with sustainable sourcing practices. This shift in preferences is also influenced by a growing interest in home renovation and DIY projects, which aligns with the cultural value of personal accomplishment and creativity.
Trends in the market: In Jordan, there is a growing demand for eco-friendly and sustainable hardware and building materials. This trend is driven by increasing awareness of environmental issues and government initiatives promoting green building practices. Furthermore, there is a rise in DIY projects as people spend more time at home due to the pandemic. This has led to an increase in demand for affordable and easy-to-use materials, as well as online tutorials and workshops. This trend is expected to continue, with potential implications for industry stakeholders such as hardware suppliers and DIY stores to adapt their product offerings and marketing strategies to cater to this growing market segment.
Local special circumstances: In Jordan, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's geography and culture. Being situated in the Middle East, Jordan faces unique challenges such as extreme temperatures and water scarcity, which significantly impact construction and home improvement processes. Additionally, cultural preferences and traditions also play a role in shaping the market, with a preference for locally-sourced materials and traditional building methods. Regulatory factors, such as import tariffs and bureaucratic procedures, also contribute to the market's dynamics, making it important for businesses to navigate these factors effectively to succeed in the market.
Underlying macroeconomic factors:
The Hardware & Building Materials Market within the DIY & Hardware Store Market in Jordan is heavily influenced by macroeconomic factors such as economic stability, government policies, and global market trends. The country's healthy economic growth and stable political environment have led to increased consumer confidence and higher purchasing power, boosting the demand for hardware and building materials. Additionally, the government's focus on infrastructure development and construction projects has further bolstered the market, creating new opportunities for the DIY & Hardware Store Market. Global economic trends and technological advancements have also played a significant role in shaping the market, with the increasing adoption of digital solutions and e-commerce platforms opening up new avenues for growth in the hardware and building materials sector. Overall, these factors present a positive outlook for the Hardware & Building Materials Market within the DIY & Hardware Store Market in Jordan, with strong potential for growth and expansion.
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.
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