To repaint and repair minor problems, Thai consumers are happy to buy home improvement products from retail stores and do it by themselves. For bigger renovations, they do not hesitate to hire skilled tradespersons to do the job.
Among new government projects such as the creation of industrial economic zones and the enhancement of public roads, real estate is rumbling with many new residential projects to be constructed. It is not only purchasers of new houses, but also owners of older houses that are looking for decorative paint products, the latter to make their home feel new within their budget constraints.
Corded drills are a core home improvement product that many households have. Since there are no substitute products to help consumers drill holes to install hooks or hang pictures, sales of corded drills are projected to increase steadily in the forecast period.
Local player Toa Paint (Thailand) Co Ltd continued to hold the biggest value share of home improvement in 2018. Siam Sanitary Ware Industry Co Ltd is in second place and Thai consumers are familiar with its Cotto bathroom and sanitaryware products which are strong in luxury design.
During 2018, Black & Decker (Thailand) Ltd, the most active brand in power tools, launched a cordless drill in retail distribution channels at a reasonable price to meet the consumer desire to own and use this kind of practical and effective product. Black & Decker (Thailand) has thus retained its solid position for a period of time, benefiting from its expertise in drill manufacturing and product development.
Since demand for ordinary products is likely to slow down in line with the rate of new construction, Union Mosaic Industry PCL (UMI) is progressively using the tactic of offering extraordinary tiles to high-end consumers and differentiating itself while the majority of value sales are made by Cotto and Dynasty Tiletop. UMI plans to overcome giant brands with its designs and high product quality of tiles, targeting more specific groups of consumers who love unique patterns.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Home Improvement industry in Thailand with research from Euromonitor's team of in-country analysts.
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The Home Improvement in Thailand market research report includes:
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