As per Fact.MR, a market research and competitive intelligence provider, the global household polishes market is expected to progress at a CAGR of 6% over the next ten years.
Household polishes are a wide spectrum of formulations of oil and petroleum-based ingredients used for the purpose of cleaning and protecting furniture, walls, and floors. These products also form a key part in coating applications in the automobile industry.
The household polishes market is making large strides driven by rising application of polishes and scouring powder in the maintenance and cleaning processes of infrastructures and furniture, the world over. Extensive use of household polishes for bringing shine and gloss to wooden furniture, apart from being used for protective purposes, has propelled market growth over the years.
The market has also been receiving robust growth momentum due to rising demand from the automobile and automotive industry. Use of household polishes is also gathering steam in the industry for auto-detailing. Demand for products with the latest polishing technology for automotive applications is also boosting market expansion.
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Key Insights Covered in Household Polishes Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Latest Trends of Household Polishes
- Competition Mapping and Benchmarking
- Household Polishes Market Size in 2021
- Brand Share and Market Share Analysis
- Household Polishes Market Growth to 2031
- Key Product Innovations and Regulatory Climate
- Household Cleaners Market
- COVID-19 Impact on Demand for Household Polishes and How to Navigate
- Recommendation on Key Winning Strategies
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Key Segments Covered in Household Polishes Industry Research
- Liquid Household Polishes
- Gel & Paste Household Polishes
- Powder & Granules Household Polishes
- Woodwork Polishes
- Leather Polishes
- Footwear Polishes
- Scouring Powders & Paste
- Household Polishes for Healthcare
- Household Polishes For Automobiles
- Household Polishes For Construction
- Modern Trade
- Grocery Stores
- Convenience Stores
- e-Commerce Channels
Key Takeaways from Market Study
- Global household polishes market to top US$ 750 Mn by 2031.
- Woodwork polishes projected to reach around US$ 400 Mn by 2031.
- Leather polishes projected to record above 5% CAGR over next 10 years.
- Market in Europe holds share of more than 40%.
- Market in Australia expected to reach valuation of US$ 300 Mn by 2031.
- Market in Germany to record 4% CAGR over forecast period of 2021- 2031.
“Rising demand for high-performance polishes in the furniture industry has opened up lucrative avenues for manufacturers and distributors of household polishes, which, in turn, is fueling market growth,” according to a Fact.MR analyst.
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Top manufacturers of powder household polishes are experiencing cut-throat competition due to rise in demand for household polishes across the world and numerous players entering this space. In order to sustain in the competition, leading companies in the household polishes market are focusing on diversifying their product portfolios.
- Rust-Oleum Corp. announced to launch a new range of products like Vinyl Wrap for the automotive aftermarket industry, offering a full line of products to protect and enhance vehicle appearance.
- Rust-Oleum and The Home Depot jointly announced their partnership of the Varathane brand that now includes the Varathane Classic assortment of interior wood stains, polyurethanes, spar varnish, wood putty, and others.
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