Press release
Furniture Polish Industry to Achieve $14.79 Billion Growth by 2029
Furniture Polish
How Will the Furniture Polish Market Grow by 2025 in Terms of Size and Growth?
In recent times, the furniture polish market has experienced robust growth. It is projected to rise from a value of $10.96 billion in 2024 to an estimated $11.59 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.8%. Factors such as the popularity of wooden furniture, shifts in consumer lifestyle, increased environmental consciousness, and effective marketing and branding strategies have contributed to the growth experienced in the past.
What Are the Estimated Growth Rates for the Furniture Polish Industry Through 2029?
The market size of furniture polish is projected to experience significant expansion in the coming years. The estimation is that it will escalate to $14.79 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%. The predicted growth in this duration is attributable to factors such as sustainability and eco-friendly products, the rise of e-commerce, ongoing trends in home improvements, as well as premium and specialty items. The forecast period will also see key trends such as the emergence of smart home technologies, the use of plant-based formulas, digital marketing strategies and influencers, and partnerships with furniture manufacturers.
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What Are the Strategic Drivers Boosting Furniture Polish Market Performance?
The escalating demand for wood is projected to fuel the expansion of the furniture polish market in the future. Wood is an organic material derived from the roots, stems, and branches of trees, and is employed in crafting wood-oriented goods. The advantages of wood-based furniture polish are numerous, including the protection of the surface and flexibility in maintaining and improving the aesthetics and durability of wooden furniture and surfaces. In October 2023, for instance, a study published by the UK's weekly science journal, Nature, predicted a surge in worldwide consumption of primary processed wood products, by between 60% to 170% by 2050. As a result of the escalating demand for wood, the growth of the furniture polish market is being driven forward.
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What Are the Segments in the Furniture Polish Market?
The furniture polish market covered in this report is segmented -
1) By Product: Solvent, Liquid, Aerosols
2) By Source: Alkyd, Melamine, Polyester, Lacquer, Other Sources
3) By Sales Channel: Wholesaler Or Distributors, Super market Or Hyper markets, Specialty Stores, Online Stores
4) By End Use: Household, Corporate Offices, Hospitality, Educational Institutes, Restaurants And Cafes, Furniture Manufacturers, Other End Uses
Subsegments:
1) By Solvent: Oil-Based Solvent, Water-Based Solvent
2) By Liquid: Spray Liquid, Pour Liquid
3) By Aerosols: Pressurized Aerosol, Trigger Spray Aerosol
What Are the Key Adoption Trends in the Furniture Polish Market?
Major players in the furniture polish sector are pioneering new product development such as water-based wood polish to boost market revenue. This type of polish uses water as its main solvent. It is environmentally friendly, dries quickly, and has a low level of volatile organic compounds (VOCs), making it appropriate for improving and preserving wood surfaces. For example, in November 2024, Sherwin-Williams Company, a company in the US that specializes in the manufacture of paint and coatings, introduced a new product called SHER-WOOD EA Hydroplus, a water-based wood coating. This product has been designed to work effectively in various environmental conditions. It offers increased film durability, chemical resistance, and lower VOC content. The product is mainly targeting sectors like kitchen cabinets and furniture, boasting a sustainable, high-performance coating option with superior flow, leveling, and the ability to resist scratches.
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Which Companies Lead the Competitive Landscape of the Furniture Polish Industry?
Major companies operating 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.
Where Are the Key Furniture Polish Market Opportunities by Region?
North America was the largest region in the furniture polish market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in furniture polish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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