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Furniture Polish Market Size, Analysis, Overview, Outlook Report 2024-2033
Furniture Polish Market Size
According to The Business Research Company's, The furniture polish market size has grown strongly in recent years. It will grow from $10.2 billion in 2023 to $10.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to wooden furniture prevalence, consumer lifestyle changes, environmental awareness, marketing and branding.
The furniture polish market size is expected to see strong growth in the next few years. It will grow to $14.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability and green products, e-commerce growth, home improvement trends, premium and specialty products. Major trends in the forecast period include smart home technology, plant-based formulas, digital marketing and influencers, collaboration with furniture manufacturers.
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Market Drivers and Trends:
The increasing use of wood is expected to propel the growth of the furniture polish market going forward. Wood is a natural substance from tree roots, stems and branches used to craft wood-related products. Furniture polish for wood offers several benefits, such as surface protection and versatility for maintaining and enhancing the appearance and longevity of wooden furniture and surfaces. For instance, in November 2022, according to the Natural Resources Institute, a Finland-based government office, total round wood use in Finland in 2021 was 85.2 million cubic meters, an increase of 9% from the previous year. Furthermore, the number of by-products and other types of wood waste used was 27.7 million cubic meters, an increase of 17% from a year earlier. Therefore, the increasing use of wood is driving the growth of the furniture polish market.
Major companies operating in the furniture polish market are developing innovative products such as Leather Polish with advanced barrier protection technology to drive revenues in the market. Advanced barrier protection technology is designed to shield furniture against potential threats and hazards, such as spills, stains, odors, moisture, allergens and even microbial growth, to create protective barriers on furniture surfaces. For instance, in March 2021, Furniture Clinic Limited, a Durham-based furniture polish manufacturing company, launched a product called Leather Polish. The Leather Polish is a high-end, water-based polish created to give all sorts of leather furniture a high sheen that enhances color, protects and nourishes the leather, polishes to a high shine and leaves surfaces velvety smooth, among other advantages. This product includes advanced barrier protection technology that contains a blend of silicones and waxes formulated to feed and nourish, preventing the leather from drying out and becoming brittle.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Major players in the furniture polish market are The Sherwin-William Company, Reckitt Benckiser PLC, Axalta Coating Systems Ltd., The Valspar Corporation, Asian Paints Ltd., Bolton Group LLC, Teknos (UK) Ltd., ICA Pidilite Industries Limited, Bona AB, Weiman Products LLC, RPM Wood Finishes Group, Riverside Paper Co. Inc., Cleenol Group Ltd., Mohawk Finishing Products, Golden Star Inc., A. W. Meyer Co., Clair Engineers Pvt. Ltd., S.C. Johnson & Son Inc., Starco Chemical Co. Inc., Akzo Nobel N.V., Howard Products Inc., Tropical Products Inc., Touch And Glow, Liberon, Blanchon UK Ltd., Milsek Furniture Polish Inc.
Furniture Polish Market 2024 Key Insights:
• The furniture polish is expected to grow to $14.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Growing Demand For Wood Fuels Expansion In The Furniture Polish Market
• Innovative Furniture Polish Products With Advanced Barrier Protection Technology Redefine Market Success
• North America was the largest region in the furniture polish market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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