London, 23 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global home decorative materials market 2015-2019, which is expected to grow at a CAGR of 4.80% during the forecast period of 2014-2019.
The rapidly growing housing sector coupled with demographic transformations is expected to accelerate growth in the global home decorative materials market. Factors such as the increasing number of small families and growing popularity of solo living are expected to increase the per capita spending on home decorative materials. Renovation of old apartments and houses coupled with the populaces’ tendency to cash in on home value appreciation will also aid in boosting the demand for home decorative materials during the forecast period.
“Vendors of home decorative materials are increasingly introducing private label brands as they provide a major growth opportunity in light of declining profit margins. This strategy allows vendors to better respond to consumer trends and benefit from higher profit margins,” says Faisal Ghaus, Vice President of Technavio.
“They take advantage of the proximity to consumers and develop products based on emerging trends. Vendors are thus capitalizing on this opportunity and introducing their own brands.”
Key Market Drivers:
- Increased Refurbishment.
- Growing Urbanization.
- Steady Increase in Single Person Households.
- Recovery in Some Categories.
Key Market Trends:
- Shift to Digital Channels.
- Increased Adoption of Distribution Technologies.
- Wider Product Range.
- Proliferation of Private Label Brands.
- Increased Sustainability.
Key Market Vendors:
- Home Depot Inc.
- Lowe’s Companies Inc.
- The Sherwin-Williams Co.
- Walmart Stores Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
