Paint, Wallpaper & Supplies - ASEAN

In ASEAN, the revenue generated in the Paint, Wallpaper & Supplies market amounts to US$8.84bn in 2024.
It is projected that the market will experience an annual growth rate of 2.67% (CAGR 2024-2029).
When compared to other countries around Worldwide, United States generates the highest revenue in this market segment, with a total of US$52bn in 2024.
In terms of per person revenues, US$12.79 is generated in 2024.
The demand for eco-friendly paint and wallpaper products is rapidly increasing in Singapore, driven by the government's push for sustainability.

Definition:

Paints, Wallpaper & Supplies covers a wide-ranged segment of the DIY & Hardware market. Under paint, this includes all types of paint for interior and exterior usage. Wallpaper refers only to wallpaper and does not include wall tiles or wall panels. Supplies include various products which are related to the paint and wallpaper market, focused mainly on cleaning and repairing walls. The segment does not include painting tools, which are included in the Tools & Machines segment instead.

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. For more information on the displayed data, click the info button on the right hand side of each box.

Paint
Wallpapers
Paint supplies
Wallpaper supplies

Wall tiles
Wall panels
Painting tools

In the DIY & Hardware Store Market in ASEAN, the Paint, Wallpaper & Supplies market is experiencing limited growth, due to low demand and competition from alternative DIY solutions. Consumer preference for affordable options and slow economic conditions are also impacting the growth rate.

Customer preferences: There has been a growing trend towards environmentally-friendly and sustainable products in the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market. Consumers are increasingly conscious of the materials used in their home decor and are opting for eco-friendly options. This shift is driven by cultural values promoting environmental responsibility and a desire for long-term cost savings. As a result, there has been a rise in demand for products made from natural ingredients and recycled materials, as well as for paint and wallpaper with low VOC emissions.

Trends in the market: In ASEAN, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is seeing a shift towards eco-friendly and sustainable products. This trend is driven by consumers' increasing awareness and demand for environmentally friendly options. Additionally, the rise of e-commerce and online marketplaces is providing greater accessibility to these products. This trend is expected to continue as governments and organizations in the region prioritize sustainability initiatives. Industry stakeholders may need to adapt their product offerings and marketing strategies to cater to this growing demand for green products.

Local special circumstances: In ASEAN, the DIY & Hardware Store Market is rapidly expanding due to the region's growing population and urbanization. Additionally, the presence of multinational companies and strong government support for infrastructure development have led to a surge in the demand for paint, wallpaper, and other home improvement supplies. However, unlike other markets, ASEAN countries have diverse cultures and regulatory policies, which require businesses to adapt their marketing and distribution strategies accordingly. For example, in Indonesia, slow-moving bureaucracy can delay the licensing process for foreign companies, while in Singapore, high labor costs make it more challenging for small businesses to compete with larger chains. Overall, understanding and navigating these unique local factors is crucial for success in the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in ASEAN.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in ASEAN is no exception to the influence of macroeconomic factors. With global economic trends shifting towards digitalization and automation, there is a growing demand for high-quality paint and wallpaper products to enhance interior design and aesthetics. Furthermore, favorable fiscal policies and investment in infrastructure development, particularly in the construction industry, are expected to drive market growth in the region. Additionally, the rise in disposable income and urbanization are fueling the DIY culture, leading to an increase in home renovation and improvement projects, further contributing to the demand for paint, wallpaper, and supplies.

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.

The global paint and coatings industry is a major subset of the international chemical industry. Coatings refer broadly to any type of covering that is applied to an object's surface for functional or decorative reasons, or both. Paints are a subset of coatings that are also used as a protective coating or as a decorative, colorful coating. In 2023, the global paint and coatings industry was estimated to be valued at some 179.98 billion U.S. dollars. It is forecast that by 2032 the sector’s market value will surpass 255.59 billion U.S. dollars. Market growth is mainly driven by increasing demand in the construction industry, with the automotive, general industrial, coil, wood, aerospace, railing, and packaging coatings markets also driving demand growth.