Paint, Wallpaper & Supplies - Bhutan

In Bhutan, the revenue generated in the Paint, Wallpaper & Supplies market amounts to US$9.96m in 2024.
It is projected that the market will experience an annual growth rate of 3.26% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this market segment, with a total of US$52bn in 2024.
Furthermore, in terms of per person revenues, in Bhutan generates US$12.57 in 2024.
In the Bhutanese market for paint, wallpaper, and supplies, there is a growing demand for eco-friendly and sustainable products, reflecting the country's commitment to environmental conservation.

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

The Paint, Wallpaper & Supplies Market in the DIY & Hardware Store Market in Bhutan is experiencing negligible growth, due to factors such as limited consumer spending and a lack of awareness about DIY projects. Online sales and technological advancements may drive future growth.

Customer preferences: With the increasing popularity of DIY home improvement projects, consumers in the Paint, Wallpaper & Supplies Market are showing a preference for eco-friendly and sustainable materials. This shift in consumer preference is driven by a growing awareness of environmental issues and a desire to reduce carbon footprints. As a result, retailers are stocking more eco-friendly and non-toxic paint and wallpaper options to cater to this demand. Additionally, there is a trend towards DIYers seeking out unique and personalized designs, leading to a rise in demand for customizable wallpaper and paint products.

Trends in the market: In Bhutan, there is a growing demand for environmentally-friendly paints and wallpapers in the DIY & Hardware Store Market. This trend is driven by increased awareness of the negative impact of traditional paints and wallpapers on health and the environment. Industry stakeholders are responding by offering more eco-friendly options and promoting their benefits to consumers. This trend is expected to continue as sustainability becomes a key consideration for consumers across industries. As a result, stakeholders in the Paint, Wallpaper & Supplies Market must adapt and innovate to stay competitive in the evolving market.

Local special circumstances: In Bhutan, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the nation's strict environmental regulations, which limit the use of certain chemicals in paint and wallpaper production. Additionally, the country's small population and remote location restrict the availability of certain products, leading to higher prices. The cultural emphasis on traditional craftsmanship also plays a role, with many consumers preferring hand-painted or natural materials over mass-produced options. These factors contribute to a unique market dynamic in Bhutan, ultimately shaping the trends and preferences within the Paint, Wallpaper & Supplies Market.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Bhutan is impacted by several macroeconomic factors. These include the country's overall economic health, global economic trends, fiscal policies, and financial indicators such as consumer spending and disposable income. Bhutan's strong focus on sustainability and environmental conservation may also influence the demand for eco-friendly paint and wallpaper products. Additionally, government initiatives to boost affordable housing and urban infrastructure development may contribute to the growth of the 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.

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.