Global Home Improvement Hard Goods Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Home Improvement Hard Goods Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Home improvement products can be divided into hard decoration materials and soft decoration products according to their functional forms. Home Improvement Hard Goods refer to home improvement building materials that are fixed on the surface or inside of the house structure in order to meet the basic functions and appearance needs of the house. Home Improvement Hard Goods include Building Materials, Plumbing Supplies, Electrical Supplies, Hardware and Fasteners, Paint, and Finishes.

Market Overview:

The latest research study on the global Home Improvement Hard Goods market finds that the global Home Improvement Hard Goods market reached a value of USD 865062.0 million in 2022. It’s expected that the market will achieve USD 1219040.0 million by 2028, exhibiting a CAGR of 5.88% during the forecast period.

Influence of COVID-19 Outbreak on Home Improvement Hard Goods Industry Development

The outbreak of COVID-19 has had a certain impact on the development trend of the industry, the concept of consumers, and the upstream and downstream of the industrial chain.

First of all, after the outbreak of COVID-19, people's consumption concept of home decoration has changed a lot. People will pursue a healthy, comfortable, environmentally friendly, green, and natural home life. From the choice of the home environment to the choice of home decoration design, home decoration products, construction, and Home Improvement Hard Goods, there will be some influence.

People are pursuing home improvement products with antibacterial and antibacterial functions. Before the outbreak of COVID-19, a batch of home decoration materials with antibacterial and antibacterial functions appeared in the market, but they did not receive the attention of consumers. COVID-19 has stimulated people's enthusiasm for choosing home improvement materials with antibacterial and antibacterial functions. It mainly includes interior wall coatings with antibacterial and antibacterial functions, functional ceramic tiles, composite wood floors, and even curtain cloth, sofa releases, and wall decoration cloths with antibacterial and antibacterial functions. The pursuit of manufacturing enterprises and consumers.

Second, during the COVID-19 period, many countries restricted people's travel, especially in some densely populated places. This is not conducive to the progress of home improvement and construction sites, and many home improvement projects have to be postponed or stopped, which leads to the accumulation of a large number of Home Improvement Hard Goods. However, many Home Improvement Hard Goods have a certain production period, and it is difficult for manufacturers to control the shelf life of raw materials, which puts a certain pressure on the operating costs of enterprises.

Global Market Drivers

The world is experiencing the largest wave of urban growth in history. According to the United Nations Population Fund, more than half of the world's population currently lives in cities and towns, a number that will rise to around 5 billion by 2030. Much of this urbanization will take place in Africa and Asia, bringing about huge social, economic and environmental changes. Urbanization has the potential to usher in a new era of well-being, resource efficiency and economic growth.

Rising disposable income of the people along with increasing urbanization, especially in emerging economies, has enabled consumers to invest more in home improvement projects. During urbanization, people move from rural areas to cities and homeownership rates rise, leading to a need for new housing and infrastructure. This drives demand for home improvement hard goods. As more individuals and families become homeowners and renovate their homes, there is an increasing demand for products such as building materials, hardware tools, and more.

In many developed countries, the existing housing stock is aging, creating a need for repair, maintenance and renovation. Homeowners are investing in upgrading their homes, including replacing outdated finishes, improving energy efficiency and improving overall comfort. Renovation and remodeling projects continue to drive demand for home improvement hard goods. A large number of homeowners undertake renovation projects to upgrade their homes, improve functionality, and increase property value. This trend is driven by changing consumer preferences, lifestyle aspirations, and demand for energy-efficient solutions.

At the same time, the popularity of DIY culture and home improvement exhibitions has greatly influenced consumer behavior. Affected by the epidemic, people spend more time working and studying at home, and have higher requirements for home decoration. Demand for tools, materials and fixtures is being driven by a growing number of DIY enthusiasts looking for home improvement hard goods to carry out projects on their own. Owing to the spread and influence of social media and the internet, home improvement shows and online platforms provide inspiration, knowledge, and step-by-step guidance to encourage consumers to participate in home improvement projects, holding potential for market growth.

Region Overview:

In 2022, the share of the Home Improvement Hard Goods market in North America stood at 33.62%.

Company Overview:

Lixil Group, Sherwin-Williams Company, Mohawk Industries were the top 3 players in the Home Improvement Hard Goods market in 2022, taking up a market share of 3.74% together.

LIXIL Corp (LIXIL) is a provider of housing and building materials. It manufactures and distributes housing and living-related products such as windows and interior and exterior building materials, tiles, entrance doors and interior fabrics to larger systems such as unit bathrooms, washstands, toilets and kitchens. LIXIL also offers services such as real estate franchising, housing loans and real estate management. The company offers products and services under various brands such as INAX, Grohe, American Standard, Tostem, Richelle, Spage, Interio, Exsior, NODEA, and Super Wall. It serves dealers, developers, wholesalers, construction companies, retailers, architectural firms and general consumers. The company has its presence in the Americas, Europe, the Middle East and Africa, and Asia Pacific. LIXIL is headquartered in Koto-ku, Tokyo, Japan.

Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial, and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.

Segmentation Overview:

By type, Building Materials segment accounted for the largest share of market in 2022.

Building Materials

Building materials are the basic materials used in construction. Examples include wood, bricks, cement, concrete blocks, roofing materials, flooring materials, insulation, plasterboard, and structural components such as beams and trusses. The manufacture of construction materials is a well-established industry in many countries and the use of these materials is often grouped into specific specialist trades such as carpentry, insulation, plumbing and roofing. Construction materials are used in the house construction and renovation industries.

Plumbing Supplies

Plumbing supplies include everything you need for plumbing projects of all sizes. There is a wide variety of products to choose from, including plumbing supplies and tools for every project. For example, items used for plumbing installation and repair, including pipes, fittings, valves, faucets, sinks, toilets, showers, bathtubs, water heaters, and drainage systems. Some of these products are made of copper and metal, some are plastic pipes and fittings, and so on. They are often available in a variety of pack sizes to accommodate one-off jobs or larger home improvement uses.

Electrical Supplies

Electrical Supplies include products related to electrical installation, wiring and repair. This includes wires, cables, switches, receptacles, circuit breakers, light fixtures, ceiling fans, electrical panels, and various electrical accessories. They mainly serve the circuit control of home improvement and related equipment, for subsequent household electricity use.

Hardware and Fasteners

This category includes various tools, hardware, and fasteners used in home improvement projects. Examples include screws, nails, bolts, nuts, washers, hinges, knobs, handles, locks, brackets, and various hand and power tools. Steel fasteners commonly used in the field of home improvement mainly include stainless steel, carbon steel, and alloy steel. Titanium, aluminum, and various alloys are also common materials of construction for metal fasteners. In many cases, special coatings or plating can be applied to metal fasteners to improve their performance characteristics by, for example, enhancing corrosion resistance.

Paint and Finishes

Paint and finishing products are used to enhance the aesthetics and protection of surfaces. This category includes paints, primers, stains, varnishes, sealers, brushes, rollers, spray guns, sandpaper, and other accessories needed for surface preparation and finishing. House paints are mainly used for home interiors, exterior or trim, and doors. They are divided into primers, topcoats, interior wall paints, exterior wall paints, and water-based latex paints.

Application Overview:

The market's largest segment by application is the segment Specialty Stores, with a market share of 51.01% in 2022.

Specialty Stores

A specialty store is a mall that offers a wide variety of brands, styles, or models in a relatively narrow category. For Home Improvement Hard Goods, specialty stores are often large home centers. Examples include Home Depot and Lowe's, which specialize in a wide range of home improvement durables. These stores offer a comprehensive selection of products across multiple categories, making them a one-stop destination for homeowners and contractors.

Digital Sales

Digital selling refers to selling through one or more forms of digital media. In digital sales, companies use virtual channels to contact potential customers with information about the product or service offered. Online platforms and e-commerce sites are gaining in popularity for purchasing hard goods for home improvement. Customers can conveniently browse and order products through online retailers, including dedicated home improvement websites, marketplaces, and manufacturer websites.

Physical Homeware Stores

Physical Homeware Stores including small home furnishing retailers and hardware stores, are also sales channels for home improvement hard goods. These stores typically carry a range of products in their inventory that are specific to your home improvement needs. Physical Homeware Stores are widely distributed and numerous in number, and their separate footprint is not as large as that of specialty stores, mainly selling commonly used commodities.

Key Companies in the global Home Improvement Hard Goods market covered in Chapter 3:

Masco Corporation
Kajaria Ceramics
Hunter Fan Company
3M
Asian Granito India
Rheem Manufacturing Company
Mohawk Industries
Lixil Group
PPG Industries
AkzoNobel
TOTO Ltd
Berger Paints
Sherwin-Williams Company
JELD-WEN Holding, Inc.
Owens Corning
Asian Paints
Armstrong World Industries
Stanley Black & Decker
Kohler

In Chapter 4 and Chapter 14.2, on the basis of types, the Home Improvement Hard Goods market from 2018 to 2029 is primarily split into:

Building Materials
Plumbing Supplies
Electrical Supplies
Hardware and Fasteners
Paint and Finishes
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Home Improvement Hard Goods market from 2018 to 2029 covers:

Specialty Stores
Digital Sales
Physical Homeware Stores
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)