Market Insights Consumer DIY & Hardware Store

Paint, Wallpaper & Supplies - Thailand

Thailand

In Thailand, the revenue generated in the Paint, Wallpaper & Supplies market is estimated to reach €0.92bn in 2024.
It is projected to experience a yearly growth rate of 1.88% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue, amounting to €47,830m in 2024.
In terms of per person revenues, in Thailand generates €12.85 in 2024.
"Thailand's booming tourism industry has led to a surge in demand for decorative paints and wallpapers, catering to the growing hospitality and residential sectors."

Key regions: Japan, Indonesia, Turkey, Germany, Worldwide

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store Market in Thailand nan is experiencing negligible growth due to factors such as limited consumer interest, stiff competition, and economic downturn. The market is expected to witness minimal growth in the coming years.

Customer preferences: Recent years have seen a growing demand for eco-friendly and sustainable paint and wallpaper options in the DIY & Hardware Store Market in Thailand. This trend is driven by an increasing awareness about environmental issues among consumers, as well as a desire for more natural and non-toxic products. Additionally, there has been a rise in popularity of DIY home projects and a preference for personalized and unique home decor, leading to an increase in the use of paint and wallpaper as design elements. This shift towards more eco-conscious and personalized options is likely to continue as consumers become more environmentally and socially conscious.

Trends in the market: In Thailand, the DIY & Hardware Store market is seeing an increase in demand for eco-friendly and sustainable paint and wallpaper products. This trend is driven by a growing awareness of environmental issues and a desire for healthier living spaces. As a result, suppliers are now offering a wider range of environmentally-friendly options, such as low-VOC paints and biodegradable wallpaper. This trend is expected to continue as consumers become more conscious of their impact on the environment and seek out sustainable home renovation solutions. Industry stakeholders should capitalize on this trend by expanding their range of environmentally-friendly products and promoting their eco-friendly practices. Failure to do so may result in losing customers to competitors who are meeting the demand for sustainable options.

Local special circumstances: In Thailand, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is heavily influenced by the country's tropical climate and unique cultural aesthetic preferences. For instance, the high humidity and intense heat require paints and wallpaper to have higher levels of durability and heat resistance compared to other markets. Additionally, Thai consumers have a strong preference for vibrant and ornate designs, leading to a higher demand for decorative paint and wallpaper options. Furthermore, the government's emphasis on promoting sustainable and eco-friendly products has also influenced the market, with a shift towards more environmentally-friendly and low-VOC products.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Thailand is influenced by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. Thailand's stable economic growth, favorable regulatory environment, and growing investment in infrastructure are fueling market growth. Furthermore, the rising urbanization and increasing household disposable income in the country are driving the demand for DIY and home improvement products, including paint, wallpaper, and supplies. Additionally, the growing trend of home renovation and interior decoration is also contributing to the growth of the market in Thailand.

Methodology

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.