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India Furniture Polish Market Report 2020: Market was Valued at Approx $875 Million in 2019 and is Projected to Surpass $1.44 Billion by 2025
Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) -- 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.
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.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
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.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. India Furniture Polish Market Outlook
4.1. Demand & Supply Analysis
4.2. Market Size & Forecast 2015-2025
4.2.1. By Value
4.2.2. By Volume
4.3. Market Share & Forecast
4.3.1. By Type (Aerosol Polish, Liquid Polish and Semi-Solid Polish)
4.3.2. By Source (Polyurethane Finish, Melamine Finish, Polyester, PU Alkyd Resin, Nitrocellulose Finish, Lacquer, Others)
4.3.3. By Distribution Channel (Direct, Wholesalers, Distributors, Specialty Store, Online, Others)
4.3.4. By Application (Residential & Commercial)
4.3.5. By Region (North, West, South and East)
4.3.6. By Company
4.4. Market Attractiveness Index
5. North India Furniture Polish Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By Source
5.2.3. By Distribution Channel
5.2.4. By Application
6. South India Furniture Polish Market Outlook
7. West India Furniture Polish Market Outlook
8. East India Furniture Polish Market Outlook
9. Value Chain Analysis
10. Pricing Analysis
11. Raw Material Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Import-Export Analysis
15. Policy & Regulatory Landscape
16. India Economic Profile
17. Competitive Landscape
17.1. Competition Benchmarking
17.2. Company Profiles
17.2.1. ICA Pidilite Industries Limited
17.2.2. Sirca Paints India Limited
17.2.3. Asian Paints Limited
17.2.4. AkzoNobel N.V.
17.2.5. Kansai Nerolac Paints Ltd.
17.2.6. Goodluck Oil & Paint Works
17.2.7. Sheenlac Paints Ltd.
17.2.8. Sealed Air India
17.2.9. Yashada Chemicals Pvt. Ltd.
17.2.10. Jubilant Agri and Consumer Products Ltd.
18. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/xn1obp
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