DUBLIN--(BUSINESS WIRE)--The "India Furniture Polish Market, by Type (Aerosol Polish, Liquid Polish and Semi-Solid Polish), by Source (Polyurethane, Melamine, Polyester, Lacquer, Others), by Distribution Channel, by Application, by Region, Competition, Forecast and Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Indian Furniture Polish Market was valued at around $ 875 million in 2019 and is projected to surpass $ 1.44 billion by 2025, owing to the increasing construction activities coupled with rising working-class population in the country.
In addition, supportive government programs such as Smart City Mission is further going to surge the demand for furniture polish in the coming years. However, current COVID-19 pandemic has dented the country's furniture polish market demand due to shifting focus towards essential goods coupled with disruption in trade flow as well as logistics and manpower constraints due to lockdown measures. Considering ease in lockdown and increasing focus to recover from this pandemic situation, the market is expected to witness a U pattern demand recovery.
Growing population, increasing income levels and rising inclination among families towards spacious and expensive furniture installations, which require periodical maintenance, necessitates the use of furniture polish. Furniture polish market further has been driven by availability of multiple product offerings as well as evolving product quality such as water-based furniture polish developed by some manufacturers such as Asian Paints.
Furniture polish market is segmented by type, by source, by distribution channel, by application and by region. In terms of Type segment, the market is fragmented into liquid, semi-solid and aerosol type, of which, liquid furniture polish segment held the largest share in the Indian Furniture Polish Market in 2019 and the segment is projected to maintain its dominance through 2025 as well on account of growing demand for low VOC polishes.
However, aerosol furniture polish market is also anticipated to exhibit healthy growth during the forecast period. By source, the market is fragmented into PU (Polyurethane), Melamine, Polyester, PU Alkyd Resin, lacquer and Nitrocellulose Finish. PU Finish grabbed the largest market share as it is preferred due to its availability in multiple shades. However, Melamine Finish, owing to its lesser cost and high durability, is also experiencing high growth in India.
Major players operating in the Indian Furniture Polish Market include ICA Pidilite Private Limited, Sirca Paints India Limited, Asian Paints Limited, AkzoNobel N.V., MRF Limited, Jubilant Agri and Consumer Products Ltd., Kansai Nerolac Paints Limited, Kupsa Coatings Pvt. Ltd., among others.
Other players include Sealed Air India, Yashada Chemicals Pvt. Ltd., Goodluck Oil & Paint Works, Sheenlac Paints Limited and Ayush Industries.
Competitive Landscape
Competition Benchmarking: Benchmarking of leading 10 players on the basis of product portfolio, production plants, market pricing, sales footprint, target customer types, etc.
Company Profiles: Detailed analysis of the major companies present in the Furniture Polish market.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Report Scope:
Market, by Type:
- Liquid Polish
- Semi-Solid Polish
- Aerosol Polish
Market, by Source
- Polyurethane Finish
- Melamine Finish
- Polyester
- PU Alkyd Resin
- Nitrocellulose Finish
- Lacquer
Market, by Distribution Channel
- Direct
- Distributors
- Wholesalers
- Specialty Store
- Online
Market, by Application:
- Residential
- Commercial
Market, by Region:
- North
- West
- South
- East
Companies Mentioned
- ICA Pidilite Industries Limited
- Sirca Paints India Limited
- Asian Paints Limited
- AkzoNobel N.V.
- Kansai Nerolac Paints Ltd.
- Goodluck Oil & Paint Works
- Sheenlac Paints Ltd.
- Sealed Air India
- Yashada Chemicals Pvt. Ltd.
- Jubilant Agri and Consumer Products Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dhr2zn
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