Home improvement witnessed marginally positive current value growth in 2020 after years of declines, due to a recovery in the real estate market. With the pandemic having a limited impact on the country with no national lockdown and a low death rate, 2020 saw an increasing number of affluent Taiwanese businessmen return home due to both concerns over rising rates of the virus abroad, and the US-China trade war.
In contrast to many other home improvement categories, floor covering, and wall tiles continued to suffer declining value sales in 2020. Holding the second highest value share overall, floor covering suffered continuous losses due to huge value downward trajectory led by floor tiles, although the niche area of carpets recorded a higher drop.
Despite further declines in share and sales, Yung Chi Paint & Varnish MFG Co Ltd retained its overall leadership of home improvement in 2020 and remained the only player to hold double-digit value share. It owes its position to its strength in the largest value category of home paint through its Rainbow brand, where it offers a diversified product mix, lower prices compared to other brands and enjoys an extensive distribution network throughout hundreds of independent hardware stores in Taiwan.
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Understand the latest market trends and future growth opportunities for the Home Improvement industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Improvement industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Home Improvement research and analysis database.
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