Press release
Household Polishes Market Outlook with Size, Ongoing Trends, Top Players Analysis and Forecast 2017-2022 | Competition Tracking- Rust-Oleum Corporation, Parker & Bailey Corporation, Amway Corporation, Godrej Group, Henkel AG & Co. KGaA, Johnson & Johnson,
Fact.MR
Household polish is used for cleaning and polishing furniture, floor and walls in various industries. Industrial manufacturers witness significant demand for liquid household polishing products. Attributed to increasing need for polishing furniture and leather seats, consumption of household polishing products will be significantly high in the furniture and automotive industry. Household polishes will also witness considerable demand among manufacturers operating in the residential and healthcare industry globally.
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The global household polishes market is expected to witness a relatively slow growth due to availability of substitute products without aerosol properties. Liquid product form is expected to witness significant demand in the global household polishes market. Sales of household polishing products through modern trade is predicted to contribute significantly towards the global market growth by 2022 – end. Woodwork polishing products will register the highest growth in terms of revenue in Europe attributed to considerable demand in the furniture and residential industry. The global household polishes market will reach a value of over US$ 2,000 Mn.
Considerable Demand in the Automotive Industry
Apart from only cleaning houses, the household polish products witness a considerable demand among the automotive manufacturers. Before launching an automotive product in the market, manufacturers need to ensure that the automotive product is clean and polished well. Household polish products are used for cleaning and polishing the leather seats, wheels, headlights and windshields of the automotive. Bound to such factors, the household polish products witness an upsurge in demand among the automotive manufacturers.
Furniture Industry to Fuel Growth of the Global Market
Growing need to protect, smoothen and refine the wooden products is expected to rev up demand for household polish products in the furniture industry. As people prefer purchasing furniture with fine finishing, manufacturers use woodwork household polish products for polishing furniture. Moreover, need for clean and polished furniture in the hotels and restaurants is likely to boost demand for household polishes in the furniture industry. Such factors are likely to impact growth of the global household polishes market positively.
Healthcare and Residential Industry to Witness Significant Demand
Apart from furniture and automotive industry, household polishes are also used in the residential and healthcare industry. Growing need to maintain clean and hygienic healthcare amenities and furniture that are used by patients and doctors has led to a considerable demand for household polishes in the healthcare industry. Moreover, increasing need to repair and maintain deteriorating infrastructure in the residential and healthcare industries will further rev up demand for household polishes significantly. Such factors are likely to contribute towards growth of the global household polishes market positively during the predicted period.
On the other hand, increasing availability of substitute products equipped with enhanced technology is expected to hinder growth of the global household polishes market. Attributed to aerosol properties, the household polishes products can adversely affect health of the people. Such factors are likely to impact growth of the global household polishes market negatively during the predicted period.
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Liquid Product Form to Register Significant Growth
Woodwork polishes is expected to represent the highest growth in terms of revenue in the global household polishes market throughout 2022. This segment is predicted to represent more than US$ 230 Mn in the global household polishes market by the end of 2022. Europe will represent the largest market for woodwork polishes globally. Footwear polishes among products will register the highest CAGR in APEJ during the predicted period.
In 2017, liquid product form represented the highest revenue growth in the global household polishes market. Europe remains a major market for the liquid product form of household polishes globally. Gel and paste, and powder and granule will witness a parallel CAGR growth in APEJ throughout 2022.
Sales through modern trade among other distribution channels is expected to witness the highest growth, followed by grocery store. This segment will register the highest CAGR in Latin America and APEJ in the global market. Convenience store is predicted to register the second highest CAGR growth throughout 2022. Modern trade will represent a value of over US$ 200 Mn in the global household polishes market by 2022–end.
Competition Tracking
The report has profiled leading manufacturers of household polishes, which include companies such as Rust-Oleum Corporation, Parker & Bailey Corporation, Amway Corporation, Godrej Group, Henkel AG & Co. KGaA, Johnson & Johnson, Kao Corporation, and Reckitt Benckiser Group plc.
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