Since the US-Mexico-Canada (USMCA) trade agreement, ratified in 2020, replaced the erstwhile North American Free Trade Agreement (NAFTA), there have been increasing instances of companies nearshoring to Mexico to target the American market. In 2023, Mexico’s national paint and coatings association, Asociación Nacional de Fabricantes de Pinturas y Tintas (Anafapyt), stepped up meetings with US governmental and business associations to attract investment in paints and coatings with the goal of exporting to the US.
Mexico continues to see significant urbanisation. This presents notable potential for investment in construction projects in states like Nuevo León, Yucatán, Baja California Sur, Querétaro and Quintana Roo.
Retail e-commerce distribution in home improvement saw growth slow considerably in Mexico in 2023 and is expected to face a challenge from physical retail within the category over the forecast period. This is because several large-value home improvement categories in Mexico remain reliant on experts in terms of consultation and installation.
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Understand the latest market trends and future growth opportunities for the Home Improvement industry in Mexico 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 Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Improvement
Includes: products purchased by consumers through retail channels.Excludes: commercial sales to professional builders / tradesmen / contractors etc. Home improvement refers to bathroom and sanitaryware, decorating sundries, floor covering, hand tools, hardware, home paint, kitchen sinks, power tools, wall covering and other home improvement.
See All of Our DefinitionsThis report originates from Passport, our Home Improvement research and analysis database.
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