The DIY & Hardware Store Market in North America is seeing negligible growth due to factors such as declining interest in DIY projects and increasing competition from online retailers. Despite this, the market for paint, wallpaper & supplies continues to thrive, fueled by the convenience and variety offered by digital platforms.
Customer preferences:
The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market has seen a notable increase in demand for eco-friendly and sustainable products. This shift is driven by growing environmental awareness and a desire for more natural and non-toxic home renovation options. Additionally, there has been a rise in popularity for DIY projects as consumers look for cost-effective and personalized ways to update and refresh their homes. This trend is also influenced by the growing popularity of home improvement and renovation shows on television and social media platforms.
Trends in the market: In the North American Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market, there is a clear trend towards eco-friendly and sustainable products. Consumers are increasingly concerned about the environmental impact of their purchases and are seeking out paint and wallpaper options that are low in volatile organic compounds (VOCs) and free of harmful chemicals. This trend is expected to continue in the coming years, with a focus on innovative and environmentally friendly products. This will require industry stakeholders to adapt and invest in new technologies and processes to meet consumer demand and remain competitive in the market.
Local special circumstances:
In the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in North America, competition is fierce due to the presence of established players and the entry of new companies from neighboring markets. However, the market is steadily growing due to the increasing demand for eco-friendly and sustainable products by the environmentally-conscious North American consumers. Furthermore, various government regulations promoting energy-efficient buildings and reducing the use of harmful chemicals in paints are also driving the market growth. This unique combination of consumer preferences and regulatory support is shaping the market dynamics in North America.
Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in North America is significantly impacted by macroeconomic factors such as consumer spending power, interest rates, and housing market trends. Consumer spending on home renovations and improvements is heavily influenced by economic conditions, with higher disposable income and lower interest rates leading to increased demand for paint, wallpaper, and supplies. Economic health in the region, including GDP growth and unemployment rates, also plays a critical role in market performance. Furthermore, government policies and regulations pertaining to infrastructure investments and construction activities can greatly affect the demand for these products within the DIY & Hardware Store 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.
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)
