DIY Market Still Growing Today
Worldwide, the DIY and home improvement markets are projected to reach US$716.2 billion by 2015, according to a report issued by Global Industry Analysts, Inc. The markets are on the rise still and are expected to maintain steady growth over the next few years.
• a steady rise of the DIY culture
• widespread availability of easy-to-install/use products
• an increase in recession induced cautious spending habits of financially strained customers
• the rapidly increasing number of products and services including books, websites, television programs, tools and accessories that are being designed and served especially for DIY tasks.
• widespread availability of easy-to-use products for home repair, crafts and decorations and gardening activities.
According to Global Industry Analysts, Inc., the home improvement segment of DIY continues to be one of the major end-use markets for DIY solutions, contributing a significant share in the market’s revenues. Media, especially television, has been playing a major role in developing DIY consumer base by telecasting shows on home remodeling and repairs. Market for DIY solutions in the home improvement segment got a major boost during the recent economic recession as cost-wary individuals preferred spending their leisure time at home doing household chores to spare overhead spending, thus increasing their use of DIY tools. Consumers’ focus on renovating their home for enhancing the aesthetic value of the property and sustain its commercial value for a longer period of time will continue to benefit DIY market in this segment. Besides home improvement, the automotive and landscaping markets also generate considerable demand for DIY solutions according to the Global Industry Analysts, Inc. report.
DIY home improvement affords homeowners a way to individualize and reinvent their homes and living spaces. Skills first acquired using tools in hobby projects or for minor repairs empower men and women to tackle increasingly complex projects that can add real value to their investment.
Widespread Availability of Easy-to-Install/Use Products
By the late 1960s in the United States, the burgeoning DIY market was beginning to change the face of the construction industry. The rising cost of buying a home or having one remodeled by a professional led more homeowners to take on construction projects themselves. The popular interest in DIY and the enthusiasm for home remodeling revolutionized not only the sale of power tools but also the design and retailing of building materials and finishing supplies. All were modified for the convenience of do-it-yourselfers. Plywood was cut to more manageable panel sizes, drywall was lightened, concrete mix came in 60-pound bags, insulation was formed into square blocks, aluminum was manufactured in standardized units, hardwood panels came varnished and pre-finished, wallpaper came pre-trimmed and pre-pasted, linoleum and vinyl flooring were cut into small squares, and synthetics were molded into brick and other decorative textures. Today specialty products like soundproofing material, are available pre-cut and ready to hang or can be custom cut to a desired size.
In the DIY family conceived by many editors and advertisers, the handyman husband built things, usually with the aid of power tools, and the intuitive wife took care of surfaces and interior decorating. Previously reserved for hired help, the term “handyman” now referred to suburban husbands. The shift symbolized a larger transformation: DIY was no longer a dabbler’s hobby, but an expected domestic pursuit.