Market Insights Consumer DIY & Hardware Store

Floor Covering - South America

South America

In South America, the revenue generated in the Floor Covering market in 2024 amounts to €0.76bn.
It is projected to experience an annual growth rate of 2.02% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market, reaching €5,554m in 2024.
Taking into account the total population, the per person revenue in South America for 2024 amounts to €1.83.
The demand for eco-friendly and sustainable floor coverings is on the rise in South America, driven by a growing awareness of environmental issues.

Key regions: India, Turkey, China, Japan, Indonesia

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The South American DIY & Hardware Store market for floor coverings has seen minimal growth due to factors such as low consumer awareness, lack of technological adoption, and limited online services. This stagnant growth rate is impacted by economic downturn and limited demand for home improvement projects.

Customer preferences: As the interest in sustainable and eco-friendly products continues to grow, consumers in South America are showing a preference for environmentally friendly flooring options within the DIY & Hardware Store Market. This trend is driven by cultural values and a desire for more natural and organic living. Additionally, there has been a noticeable shift towards more low-cost and easily installable flooring solutions, reflecting the region's growing population of young adults and urban dwellers with busy lifestyles. As a result, there has been an increase in demand for self-adhesive and click-in flooring options.

Trends in the market: In South America, there is a growing trend in the Floor Covering Market within the DIY & Hardware Store Market of offering eco-friendly and sustainable flooring options. This trend is being driven by an increasing demand for environmentally responsible products and a shift towards green living. As a result, industry stakeholders are investing in research and development of innovative, eco-friendly flooring materials and production processes. This trend is expected to continue in the coming years, with potential implications for marketing and sales strategies, supply chain management, and partnerships with sustainable suppliers.

Local special circumstances: In South America, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by geographical factors. The region's diverse terrain and climates require different types of floor coverings, leading to a wide variety of products being sold in local hardware stores. Additionally, cultural preferences play a significant role in the types of floor coverings that are popular in each country. For example, in Brazil, the demand for sustainable and eco-friendly flooring options is high, while in Argentina, ceramic tiles are the preferred choice due to their durability in high-traffic areas. Furthermore, stringent regulations in countries like Chile and Colombia drive the use of environmentally friendly and non-toxic flooring materials, creating a unique market dynamic in the region.

Underlying macroeconomic factors: The performance of the Floor Covering Market within the DIY & Hardware Store Market in South America is also influenced by macroeconomic factors such as consumer spending, government policies, and foreign investment. Countries with stable inflation rates, low unemployment, and growing GDP are experiencing higher demand for home improvement products, including floor coverings. Moreover, the rise in urbanization and disposable incomes in the region is also expected to drive the growth of the DIY & Hardware Store Market, as consumers look for cost-effective and convenient solutions for their home renovation needs.

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.