The Paint, Wallpaper & Supplies Market in Ireland is seeing minimal growth due to factors such as fluctuating consumer demand, limited innovation, and saturation in the market. Despite the convenience of online shopping, the growth rate remains stagnant.
Customer preferences: As individuals spend more time at home during the pandemic, the desire for home improvement has risen, particularly in the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market. With a growing focus on creating comfortable living spaces, consumers are increasingly seeking sustainable and eco-friendly options for home decor. This is driven by a heightened awareness of environmental issues and a desire for greener living. As a result, there has been a surge in demand for environmentally-friendly paint and wallpaper products, as well as DIY tutorials and tips on incorporating sustainable materials into home renovation projects.
Trends in the market: In Ireland, the DIY and hardware store market is seeing a growing trend of eco-friendly and sustainable paint and wallpaper products. This is in response to increasing consumer demand for environmentally-friendly options. Additionally, there is a shift towards using technology in the paint and wallpaper sector, with the rise of virtual painting and visualization tools. This trend has implications for industry stakeholders, as they need to adapt to the changing consumer preferences and invest in innovative technologies to stay competitive in the market.
Local special circumstances: In Ireland, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the country's unique regulations on construction and home improvement. The Irish government emphasizes energy efficiency and sustainability in building materials, driving demand for eco-friendly paints and wallpapers. Additionally, the country's geographical location and climate require specialized products, such as waterproof paints and mold-resistant wallpapers, leading to a diverse range of offerings in the market.
Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market market in Ireland is affected by macroeconomic factors such as consumer confidence, disposable income, and housing market trends. The stability and growth of the Irish economy, as well as fluctuations in global economic conditions, can impact consumer spending and the demand for home improvement products. Additionally, government policies promoting homeownership and investments in infrastructure can also contribute 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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