Paint, Wallpaper & Supplies - Ghana

In Ghana, the revenue generated in the Paint, Wallpaper & Supplies market reached a total of US$377.00m in 2024.
It is projected that this market will experience an annual growth rate of 3.21% (CAGR 2024-2029).
When comparing this to the global market, it is worth noting that United States generates the highest revenue, amounting to US$52bn in 2024.
Taking into account the total population figures, the per person revenue in Ghana's market amounts to US$10.84 in 2024.
Ghana's growing construction industry is driving demand for paint, wallpaper, and supplies, creating a lucrative market for local and international suppliers.

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 Ghana is facing negligible growth, influenced by factors such as limited consumer awareness and preference for traditional methods. Despite this, the market is still expected to experience steady growth.

Customer preferences: With the growing popularity of DIY home renovation and décor projects, consumers in Ghana are increasingly looking for cost-effective and customizable solutions for their paint, wallpaper, and supplies needs. This has led to a rise in demand for eco-friendly and locally sourced products, as consumers become more environmentally conscious and seek to support local businesses. Additionally, the trend towards DIY projects has also been influenced by the desire for personalization and self-expression, as consumers seek to create unique and personalized living spaces.

Trends in the market: In Ghana, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing an increase in online sales, with many retailers setting up e-commerce platforms to reach a wider consumer base. This trend is driven by the growing use of smartphones and internet connectivity among Ghanaians, and presents an opportunity for industry stakeholders to tap into this market. Additionally, there is a rise in demand for eco-friendly and sustainable paint and wallpaper products, as consumers become more environmentally conscious. This presents a challenge for industry players to adapt and offer more sustainable options, but also opens up potential for growth and differentiation.

Local special circumstances: In Ghana, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is heavily influenced by the country's tropical climate and high levels of humidity, which create unique challenges for maintaining paint and wallpaper. Additionally, the country's strong emphasis on vibrant colors in their art and culture leads to a high demand for a wide range of paint and wallpaper options. Furthermore, strict government regulations on imported paint and supplies also play a significant role in shaping the dynamics of the market.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Ghana is greatly impacted by macroeconomic factors. The country's economic health and policies, as well as global economic trends, have a significant influence on the market's performance. For example, favorable fiscal policies and increased investments in the construction sector can lead to higher demand for paints and wallpaper, while unstable economic conditions could result in lower demand. Additionally, changes in consumer behavior and purchasing power due to economic fluctuations can greatly affect the market's growth.

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.