The Paint, Wallpaper & Supplies Market in Finland is seeing little growth, impacted by factors like consumer preference for traditional shopping methods and limited demand for DIY projects due to high labor costs.
Customer preferences: As the home renovation trend continues to gain popularity, there has been a noticeable shift towards eco-friendly and sustainable paint and wallpaper options. With growing awareness of the detrimental effects of traditional paint and wallpaper chemicals on the environment, consumers are opting for natural and non-toxic alternatives. This trend is also influenced by the increasing focus on health and wellness, as individuals seek to create a healthier living environment for themselves and their families. Additionally, the rise of minimalist and Scandinavian interior design styles has led to a demand for simpler and more visually pleasing paint and wallpaper options, further driving the market towards sustainable and aesthetically pleasing products.
Trends in the market: In Finland, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market has seen an increase in the use of sustainable and eco-friendly products. This trend aligns with the overall consumer demand for environmentally friendly options. Additionally, there is a rising interest in DIY home improvement projects, leading to an increase in sales of paint and wallpaper supplies. These trends are likely to continue as consumers become more conscious of their impact on the environment and seek affordable ways to update their homes. This presents opportunities for industry stakeholders to offer a diverse range of sustainable products and tap into the growing DIY market.
Local special circumstances: 'In Finland, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is heavily influenced by the country's cold and often harsh climate. The demand for durable and weather-resistant paint and wallpaper products is high, leading to a focus on quality and functionality in the market. Additionally, the Finnish culture values sustainability and eco-friendliness, which has led to an increased demand for eco-friendly and non-toxic paint and wallpaper options. This has also been influenced by strict environmental regulations in the country, making it a key factor in market dynamics.'
Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Finland is influenced by macroeconomic factors such as consumer spending, consumer confidence, and interest rates. Finland's economy has been growing steadily, with a strong focus on investments in the construction sector. This has positively impacted the demand for paint, wallpaper, and other supplies in the DIY & Hardware Store Market. Additionally, Finland's government has implemented policies to promote sustainable construction and renovation, further driving the demand for eco-friendly paint and wallpaper products. The increasing popularity of DIY projects and home improvement activities also contributes to the growth of this 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.
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