Press release
Demand For Woodwork Polishes Is Projected To Accelerate At A CAGR Of 5% Across The Assessment Period Of 2021 To 2031
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.To Get In-depth Information View Full Report – https://www.factmr.com/report/122/household-polishes-market
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.
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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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Increasing use of these polishes for adding shine to footwear and rising application in cleaning and adding gloss to various vehicle parts such as wheels, windshields, and headlights are also reinforcing market growth.
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
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Key Segments Covered in Household Polishes
Industry Research
Form
Liquid Household Polishes
Gel & Paste Household Polishes
Powder & Granules Household Polishes
Product
Woodwork Polishes
Leather Polishes
Footwear Polishes
Scouring Powders & Paste
Application
Household Polishes for Healthcare
Household Polishes For Automobiles
Household Polishes For Construction
Sales Channel
Modern Trade
Grocery Stores
Convenience Stores
e-Commerce Channels
Competitive Landscape
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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