The Paint, Wallpaper & Supplies Market in Iran is experiencing minimal growth, impacted by factors such as slow economic growth, limited consumer spending, and low demand for home renovation.
Customer preferences: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market has seen an increase in demand for eco-friendly and sustainable products, as consumers become more environmentally conscious. This trend is driven by a growing awareness of the harmful effects of traditional paint and wallpaper materials on both personal health and the environment. Additionally, there has been a rise in demand for DIY projects, as consumers have been spending more time at home and have turned to home improvement projects as a way to stay occupied and add value to their living spaces.
Trends in the market: In Iran, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is experiencing a rise in online sales channels, with retailers expanding their e-commerce capabilities to reach a wider customer base. Simultaneously, there is an increasing demand for sustainable and eco-friendly products, as consumers become more environmentally conscious. These trends indicate a shift towards convenience and sustainability in the industry. Furthermore, with the current pandemic, there is a growing need for DIY projects and home renovations, which has boosted the demand for paint, wallpaper, and supplies. Industry stakeholders should focus on enhancing their online presence and offering a variety of eco-friendly options to cater to changing consumer preferences. This could lead to increased competition and a need for innovative marketing strategies to stand out in the market.
Local special circumstances: In Iran, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by economic sanctions and restrictions on foreign trade. This has led to a rise in domestic production and a shift towards locally manufactured products. Additionally, cultural preferences for more traditional designs and colors have a significant impact on the market. Furthermore, government regulations and subsidies for local manufacturers play a crucial role in shaping the dynamics of the market.
Underlying macroeconomic factors: The growth of the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Iran is also influenced by macroeconomic factors such as the health of the national economy, government fiscal policies, and global economic trends. The stability and growth of the Iranian economy, along with favorable government policies and investment in infrastructure, can have a significant impact on the performance of the market. Moreover, the demand for affordable and accessible home improvement products is also driven by consumer spending power, which is closely linked to the overall health of the economy.
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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