Paint Market Reflections

The Albany Group is in a unique position to observe trends and market conditions in the Irish paint industry given its store network, of 28 outlets, and its customer base covering both retail and trade segments of the market.

According to Albany Home Décor there is a much to be positive about in the market looking ahead. Last year (2022) saw a normalising of trade following two very exceptional years while the pandemic drove a major spike in home improvement especially in the DIY end. The best category performances were in premium and designer paints, woodcare and also the ancillaries category (applicators, preparation products and speciality paints) all up over 20 per cent between 2019 and 2021.

However, price and demand became an challenge in 2022 after multiple rounds of price revisions across all categories and brands and this has continued into 2023. Volumes rather than values show the variation in performance of the sector more accurately. While volumes are somewhat back from the peak in 2021 they are still significantly ahead of 2019 showing a general trend of growth in the paint and decorating
marketplace. New house builds and renovation projects continue to drive activity and the continued high participation rates in decorating.

The current year 2023 has had a slower start than average years mainly due to poor weather throughout March and April but a significant uplift in exterior paint and woodcare sales has been noticeable since the May bank holiday weekend.

Padraic McGuinness, Business Development Manager for the Albany Group, suggests “this trend is a promising indicator for the decorating market in that it shows a greater propensity from both retail and trade customers to decorate more often.

It also shows a greater degree of consumer confidence in making expenditure decisions relating to the home and they are actively seeking out premium products and colour and design advice”

While sales are up at all price points the noticeable trend is towards premium and designer brands increasing their market share. Much of this is assisted by the emphasis on product differentiation through quality displays and samples for customers to indulge. Service has also become a much more important aspect of the paint market whether its colour consultancy for the retail customer or project specification for a commercial client.