Paint, Wallpaper & Supplies - Mongolia

In Mongolia, the revenue in the Paint, Wallpaper & Supplies market is projected to reach US$42.29m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.04% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this market segment, with US$52bn in 2024.
In terms of per capita figures, in Mongolia generates US$12.11 in revenue per person in 2024.
The demand for eco-friendly paint and sustainable wallpaper is steadily growing in Mongolia, reflecting the country's increasing focus on 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 Mongolia is experiencing slow growth due to limited demand and low consumer spending. Factors such as lack of home renovation activity and preference for cheaper alternatives are impacting the market's growth rate.

Customer preferences: According to recent data, there is a growing demand for environmentally-friendly paint and wallpaper options in Mongolia, driven by consumer preferences for sustainable and eco-friendly products. This trend is also reflected in the increasing use of natural, non-toxic materials in DIY and home improvement projects. Additionally, there is a growing interest in DIY and home renovation among younger generations, as they become more financially independent and seek to personalize their living spaces. These shifts in consumer preferences towards sustainability and DIY projects are likely to shape the growth of the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market market in the coming years.

Trends in the market: In Mongolia, there is a growing trend of DIY and home improvement projects among consumers, leading to an increased demand for paint, wallpaper, and other supplies. This trend is expected to continue as more people spend time at home due to the pandemic. As a result, there is a rising interest in eco-friendly and sustainable products in the market. This shift towards environmentally friendly options presents an opportunity for industry stakeholders to capitalize on this trend by offering more eco-friendly and sustainably sourced products to meet consumer demands. This trend also has potential implications for the overall market, as consumers are becoming more conscious of their carbon footprint and are willing to pay a premium for environmentally friendly products.

Local special circumstances: In Mongolia, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the country's vast geographic landscape and nomadic lifestyle. Due to the harsh climate and remote locations of many communities, DIY projects are often a necessity rather than a choice. Additionally, government regulations on building materials and construction methods play a significant role in shaping the market. This unique set of circumstances creates opportunities for innovative products and services to cater to the specific needs of the Mongolian market.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Mongolia is influenced by a number of macroeconomic factors. These include the country's overall economic health, which is currently experiencing stable growth due to investments in infrastructure and favorable fiscal policies. Additionally, global economic trends such as the increasing demand for home improvement products and the growing popularity of DIY projects are contributing to the market's growth. Furthermore, government initiatives to promote sustainable development and increase consumer awareness of eco-friendly products are also driving the demand for environmentally friendly paints and wallpapers. Overall, the market is expected to continue growing as Mongolia's economy continues to improve and consumer preferences shift towards more sustainable and affordable options.

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.