Market Insights Consumer DIY & Hardware Store

Hardware & Building Materials - Southeast Asia

Southeast Asia

In Southeast Asia, the Hardware & Building Materials market in 2024 generates a revenue of US$94.81bn.
It is projected to experience an annual growth rate of 2.45% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of US$525bn in 2024.
In terms of per capita income, each person in Southeast Asia generates revenues of US$136.90 in 2024.
In the Southeast Asian hardware and building materials market, Singapore stands out for its advanced construction technologies and efficient supply chain management.

Key regions: Indonesia, Turkey, Japan, China, Germany

Market

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Region comparison

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Analyst Opinion

In Southeast Asia, the DIY & Hardware Store Market is experiencing negligible growth, affected by factors like slow economic recovery and limited infrastructural development. This has resulted in a stagnant Hardware & Building Materials Market, with limited consumer spending in the region.

Customer preferences: Consumers in Southeast Asia are increasingly looking for eco-friendly and sustainable hardware and building materials, driven by a growing awareness of environmental issues. This has led to a rise in demand for green products such as energy-efficient appliances, low VOC paints, and sustainable building materials. Additionally, with the rise of DIY culture and the preference for affordable options, consumers are also leaning towards cost-effective and durable products. This shift is influenced by cultural values that prioritize sustainability and frugality, as well as an increasing focus on environmentally conscious and affordable living.

Trends in the market: In Southeast Asia, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This is driven by increasing consumer awareness and government initiatives promoting green building practices. Industry players are investing in research and development to offer innovative and environmentally-friendly products. This trend is expected to continue, with potential implications for stakeholders including increased competition and the need to adapt to changing consumer preferences.

Local special circumstances: In Southeast Asia, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the region's diverse geographical landscape, which affects the availability and transportation of materials. Cultural preferences in design and construction also play a significant role in shaping the demand for certain products. Moreover, varying regulations and policies across countries impact the market, such as import tariffs and environmental regulations. These factors create a unique market landscape in each country, leading to different opportunities and challenges for companies operating in the region.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Southeast Asia is heavily impacted by macroeconomic factors, including global economic trends, national economic health, fiscal policies, and other relevant financial indicators. With the increasing global demand for sustainable and affordable building materials, countries with strong economic growth and stable fiscal policies are experiencing a boost in their DIY & Hardware Store Market. On the other hand, countries with economic challenges and policy uncertainties are facing a slowdown in the market due to decreased consumer spending and investment. Moreover, the ongoing trade tensions and supply chain disruptions caused by the COVID-19 pandemic have also negatively affected the market, leading to higher prices and reduced market competition.

Methodology

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.