In APAC, the Paint, Wallpaper & Supplies market in DIY & Hardware Stores is experiencing minimal growth due to factors like low consumer demand and limited availability of resources. The market's stagnant growth rate is impacted by economic slowdown and lack of innovations in the industry.
Customer preferences: As DIY and home improvement projects gain popularity in APAC, there is a growing demand for environmentally-friendly and sustainable paint and wallpaper options. Consumers are becoming more conscious of their impact on the environment and are opting for products that are free from harmful chemicals and have minimal carbon footprints. This shift is also driven by the increasing awareness of the health hazards associated with traditional paint and wallpaper materials.
Trends in the market: In the APAC region, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing a shift towards eco-friendly and sustainable products. This trend is in response to increasing consumer demand for environmentally friendly options. Additionally, there is a growing focus on digitalization and e-commerce in the region, with more consumers turning to online platforms for purchasing home improvement products. These trends are expected to have a significant impact on industry stakeholders, as they will need to adapt their offerings and strategies to cater to changing consumer preferences and behavior.
Local special circumstances: In China, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is heavily influenced by the country's vast population and rapid urbanization. With the rise of DIY culture and home improvement projects, consumers are increasingly turning to online platforms for their purchases. Additionally, strict regulations on traditional brick-and-mortar stores have given way to the emergence of online shopping as a dominant distribution channel. In Japan, the market is shaped by the country's strong preference for high-quality and eco-friendly products, leading to a rise in demand for premium paint and wallpaper brands.
Underlying macroeconomic factors: Macroeconomic factors are crucial in influencing the growth of the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in the APAC region. This includes global economic trends, national economic health, fiscal policies, and other financial indicators that impact market performance. The region's economic growth and stability, as well as favorable government policies, can lead to increased consumer spending, which in turn drives demand for DIY and hardware products such as paint, wallpaper, and supplies. On the other hand, economic downturns and unfavorable policies can negatively affect market growth. Moreover, the rise in urbanization and disposable income in the region has created a higher demand for home and building improvement projects, further bolstering the growth of the DIY and hardware market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
