The DIY & Hardware Store Market in Nordics nan has seen negligible growth due to various factors like limited consumer spending, increasing competition, and slow adoption of digital technologies. Despite this, the market remains stable with a promising potential for growth in the future.
Customer preferences: With a growing shift towards sustainable living and eco-friendly products, consumers in the Nordics are gravitating towards eco-conscious paint, wallpaper, and supplies. This trend is fueled by the region's emphasis on green initiatives and a growing awareness of the impact of traditional materials on the environment. In addition, the DIY culture in the Nordics also promotes doing more with less, leading to a preference for multipurpose and eco-friendly products in the paint, wallpaper, and supplies market.
Trends in the market: In the Nordics, there is a growing interest in sustainable and environmentally friendly products, including paint and wallpaper. This trend is driven by consumer demand for eco-friendly options and government regulations promoting green practices. DIY & hardware stores are responding by expanding their range of eco-friendly paint and wallpaper products, and promoting them as part of their overall sustainability efforts. This trend is expected to continue as consumers become more conscious of their environmental impact and as governments implement stricter regulations. Additionally, advancements in technology have allowed for the development of more sustainable paint and wallpaper materials, further driving this trend. For industry stakeholders, this trend presents opportunities for growth by meeting consumer demands, as well as potential challenges in adapting to new regulations and investing in sustainable practices.
Local special circumstances: In the Nordics, the Paint, Wallpaper & Supplies market is heavily influenced by the region's climate and design aesthetic. The long and dark winters have led to a demand for high-quality indoor paints and wall coverings that can withstand harsh conditions. Additionally, the Nordic culture values simplicity and minimalism, leading to a preference for clean and neutral paint colors. The market is also heavily regulated, with strict environmental standards driving the development of eco-friendly paint and wallpaper products. These factors create a unique market landscape compared to other regions.
Underlying macroeconomic factors: The market for Paint, Wallpaper & Supplies within the DIY & Hardware Store Market in the Nordics is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer spending patterns. The Nordics, known for their high standard of living and strong economies, have seen a rise in demand for home improvement products due to increasing disposable incomes and a growing housing market. Moreover, the recent surge in DIY trends and a shift towards sustainable and environmentally-friendly products have also fueled the growth of the market. In addition, government initiatives promoting energy-efficient buildings and renovations have further boosted the demand for paints and coatings with low VOC emissions. Overall, the favorable economic conditions and evolving consumer preferences are expected to continue driving the growth of the Paint, Wallpaper & Supplies Market in the Nordics.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
