Industry revenue of »retail sale of hardware, paints and glass« in Hungary 2011-2023

The revenues generated from retail sales of hardware, paints and glass in Hungary are expected to witness a marginal increase from 1,498 million U.S. dollars in 2011 to 1,563.29 million U.S. dollars in 2023. Low construction activity is expected to provide meager support to the growth of the paints, varnishes and other coating’s revenue in the country. In addition, high raw material prices and high labor costs have led to a majority of the manufacturing processes being shifted to low cost bases. As a result, manufacturing of products such as glass has been on a steady decline. Growing health and safety concerns related to glass production has been another cause of concern.

In addition, falling mortgage rates from 2013 to 2019 in Hungary point to the low demand for housing, further curtailing hardware sales in the country. The coronavirus outbreak is also expected to shrink the demand of hardware items in the short to medium term.