India 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 a rising working-class population in the country. In addition, supportive government programs such as Smart City Mission is further going to surge demand for furniture polish in the coming years. However, the current COVID-19 pandemic has dented the country’s furniture polish market demand due to a 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 on recovering 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 the 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.The furniture polish market is segmented by type, source, 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, the liquid furniture polish segment held the largest share in 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, the 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 India furniture polish market
- ICA Pidilite Private LimitedSirca Paints India LimitedAsian Paints LimitedAkzoNobel N.V.MRF LimitedJubilant Agri and Consumer Products Ltd.Kansai Nerolac Paints LimitedKupsa 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.
Years considered for this report:
- Historical Years: 2015-2018Base Year: 2019Estimated Year: 2020Forecast Period: 2021–2025
The objective of the Study:
- To outline, classify and estimate the India Furniture Polish market on the basis of type, source, application and regional distribution.To study and forecast the Indian market size of the Furniture Polish market.To project the size of the Furniture Polish market, in terms of value and volume, with respect to key types such as Aerosol Polish, Liquid Polish, and Semi-Solid Polish.To understand the regional market structure of the Furniture Polish market, the India Furniture Polish market is segmented into four regions, namely – North India, West India, South India, and East India.To identify detailed information about the prime factors affecting the India Furniture Polish market.To evaluate competitor pricing, average market selling prices, and margins in the India Furniture Polish market.To examine competitive developments such as expansions, plant capacity, government policy, and investments, in the India Furniture Polish market.To strategically profile the leading players in the market that are involved in the manufacturing and supply of Furniture Polish in India. Click here to download FREE sample @ https://www.techsciresearch.com/sample-report.aspx?cid=4830 TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading Furniture Polish manufacturers across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the company personnel were also enquired about their key products, manufacturing plant location, prices of products and competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the types, applications, distribution network, and regional presence of all major Furniture Polish manufacturers across the country.TechSci Research calculated the market size for India furniture polish using a bottom-up approach, where manufacturers’ value sales data for standard types (Aerosol Polish, Liquid Polish and Semi-Solid Polish) were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, secondary sources directories, databases such as Indian Paint and Coating Association (IPCA), company annual reports, white papers, investor presentations and financial reports were also used by the TechSci Research.
Key Target Audience:
- Furniture Polish manufacturers, suppliers, distributors and other stakeholdersTrade associations, organizations, forums and alliances related to furniture polish marketGovernment bodies such as regulating authorities and policy makersMarket research and consulting firm The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as Furniture Polish manufacturers, distributors and dealers, customers and policy makers, about which market segments should be targeted over the coming years (next two to five years) in order to strategize investments and capitalize on the growth of the market segment.
Report Scope:
In this report, the Furniture Polish has been segmented into the following categories in addition to the industry trends which have also been detailed below:
- Liquid PolishSemi-Solid PolishAerosol Polish
- ResidentialCommercial
- NorthWestSouthEast
- North India Furniture Polish Market Outlook
5.1. Market Size & Forecast5.1.1.By Value5.1.2.By Volume5.2. Market Share & Forecast5.2.1. By Type5.2.2. By Source5.2.3. By Distribution Channel5.2.4. By Application
- South India Furniture Polish Market Outlook
6.1. Market Size & Forecast6.1.1.By Value6.1.2.By Volume6.2. Market Share & Forecast6.2.1. By Type6.2.2. By Source6.2.3. By Distribution Channel6.2.4. By Application
- West India Furniture Polish Market Outlook
7.1. Market Size & Forecast7.1.1.By Value7.1.2.By Volume7.2. Market Share & Forecast7.2.1. By Type7.2.2. By Source7.2.3. By Distribution Channel7.2.4. By Application
- East India Furniture Polish Market Outlook
8.1. Market Size & Forecast8.1.1.By Value8.1.2.By Volume8.2. Market Share & Forecast8.2.1. By Type8.2.2. By Source8.2.3. By Distribution Channel8.2.4. By Application
- Value Chain AnalysisPricing AnalysisRaw Material AnalysisMarket Dynamics
12.1. Drivers12.2. Challenges
- Market Trends & DevelopmentsImport-Export AnalysisPolicy & Regulatory LandscapeIndia Economic ProfileCompetitive Landscape
17.1. Competition Benchmarking17.2. Company Profiles17.2.1. ICA Pidilite Industries Limited17.2.2. Sirca Paints India Limited17.2.3. Asian Paints Limited17.2.4. AkzoNobel N.V.17.2.5. Kansai Nerolac Paints Ltd.17.2.6. Goodluck Oil & Paint Works17.2.7. Sheenlac Paints Ltd.17.2.8. Sealed Air India17.2.9. Yashada Chemicals Pvt. Ltd.17.2.10. Jubilant Agri and Consumer Products Ltd.
- Strategic Recommendations