Paint, Wallpaper & Supplies - Southern Asia

In Southern Asia, the revenue generated in the Paint, Wallpaper & Supplies market in 2024 amounts to US$19.33bn.
The market is projected to experience an annual growth rate of 1.91% (CAGR 2024-2029).
In comparison to other countries around Worldwide, United States generates the highest revenue in this market, with a total of US$52bn in 2024.
When considering the population, the per person revenue in Southern Asia is US$10.09 in 2024.
In Southern Asia, the demand for eco-friendly paints and wallpapers is on the rise, with consumers in countries like India and Sri Lanka seeking sustainable and non-toxic options for their homes and offices.

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 Southern Asia is experiencing negligible growth, hindered by factors such as limited disposable income and preference for traditional methods. Despite this, online options and increased home improvement awareness may lead to future growth.

Customer preferences: Consumers in Southern Asia have shown a growing interest in DIY home improvement projects, resulting in an increase in demand for Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market. This trend is influenced by cultural preferences for handcrafted and personalized home decor, as well as a rise in disposable income among the middle class. Additionally, the availability of easy-to-use and affordable DIY tools and materials has made home renovations more accessible to a wider audience. This shift towards DIY home improvement is expected to continue as consumers prioritize cost-effective and creative solutions for their living spaces.

Trends in the market: In Southern Asia, there is a growing demand for sustainable and eco-friendly paint and wallpaper options in the DIY & Hardware Store Market. This trend is driven by increasing environmental awareness and government regulations promoting green building practices. As a result, companies are investing in research and development to produce low-VOC and biodegradable products. Additionally, the rise of online shopping and home renovation projects during the pandemic has led to an increase in demand for DIY paint and wallpaper supplies. This presents opportunities for industry stakeholders to expand their product offerings and cater to the changing consumer preferences.

Local special circumstances: In the DIY & Hardware Store Market, the Paint, Wallpaper & Supplies Market in Southern Asia is influenced by unique local factors. In countries like India, the popularity of DIY projects and the increasing use of smartphones have led to a rise in demand for paint, wallpaper, and supplies. Additionally, the government's initiatives for promoting traditional arts and crafts have also contributed to the growth of this market. In other countries like Indonesia and Thailand, the cultural significance of traditional painting and home decoration has driven the market for paint, wallpaper, and supplies. Furthermore, the regulatory environment in these countries, such as regulations on the use of eco-friendly and sustainable materials, has also influenced market dynamics.

Underlying macroeconomic factors: The Southern Asia region is a key market for the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market, and its performance is heavily influenced by macroeconomic factors. In recent years, the region has experienced steady economic growth, driven by factors such as rising GDP, increasing disposable income, and urbanization. This has led to a growing demand for home improvement products, including paint, wallpaper, and supplies, as consumers seek to improve their living spaces. Additionally, the region has seen significant investments in infrastructure development, which has also positively impacted the DIY & Hardware Store Market. However, various challenges, such as political instability and uneven economic development, may hinder market growth in some countries in the region. Overall, the market is expected to continue its upward trajectory, supported by favorable economic conditions and growing consumer interest in DIY solutions.

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.