India Furniture Polish Market, By Type (Aerosol Polish, Liquid Polish and Semi-Solid Polish), By Source (Polyurethane, Melamine, Polyester, PU Alkyd Resin, Nitrocellulose, Lacquer, Others), By Distribution Channel (Direct, Distributors, Wholesalers, Specialty Store, Online, Others), By Application (Residential & Commercial), By Region (North, West, South and East), Competition, Forecast and Opportunities, 2025
New York, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "India Furniture Polish Market, By Type, By Source, By Distribution Channel, By Application, By Region, Competition, Forecast and Opportunities, 2025" - https://www.reportlinker.com/p05933033/?utm_source=GNW
India 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 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.
Furniture polish market is segmented by type, by source, by distribution channel, by application and by region.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 India 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.
Major players operating in India furniture polish market include ICA Pidilite Private Limited, Sirca Paints India Limited, Asian Paints Limited, AkzoNobel N.V., MRF Limited, Jubilant Agri and Consumer Products Ltd., Kansai Nerolac Paints Limited, Kupsa Coatings Pvt. Ltd., among others. Other players include Sealed Air India, Yashada Chemicals Pvt. Ltd., Goodluck Oil & Paint Works, Sheenlac Paints Limited and Ayush Industries.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To outline, classify and estimate the India Furniture Polish market on the basis of type, source, application and regional distribution.
• To study and forecast the India market size of the Furniture Polish market.
• To project the size of Furniture Polish market, in terms of value and volume, with respect to key types such as Aerosol Polish, Liquid Polish and Semi-Solid Polish.
• To understand the regional market structure of Furniture Polish market, the India Furniture Polish market is segmented in four regions, namely – North India, West India, South India and East India.
• To identify the detailed information about the prime factors affecting India Furniture Polish market.
• To evaluate competitor pricing, average market selling prices and margins in the India Furniture Polish market.
• To examine competitive developments such as expansions, plant capacity, government policy and investments, in the India Furniture Polish market.
• To strategically profile the leading players in the market which are involved in the manufacturing and supply of Furniture Polish in India.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading Furniture Polish manufacturers across India.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the company personnel were also enquired about their key products, manufacturing plant location, prices of products and competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the types, applications, distribution network, and regional presence of all major Furniture Polish manufacturers across the country.
The analyst calculated the market size for India furniture polish using a bottom-up approach, where manufacturers’ value sales data for standard types (Aerosol Polish, Liquid Polish and Semi-Solid Polish) were recorded and forecast for the future years. The analyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.
Various secondary sources, secondary sources directories, databases such as Indian Paint and Coating Association (IPCA), company annual reports, white papers, investor presentations and financial reports were also used by the team.
Key Target Audience:
• Furniture Polish manufacturers, suppliers, distributors and other stakeholders
• Trade associations, organizations, forums and alliances related to furniture polish market
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firm
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as Furniture Polish manufacturers, distributors and dealers, customers and policy makers, about which market segments should be targeted over the coming years (next two to five years) in order to strategize investments and capitalize on the growth of the market segment.
In this report, the Furniture Polish has been segmented into the following categories in addition to the industry trends which have also been detailed below:
• Market, by Type:
o Liquid Polish
o Semi-Solid Polish
o Aerosol Polish
• Market, by Source
o Polyurethane Finish
o Melamine Finish
o PU Alkyd Resin
o Nitrocellulose Finish
• Market, by Distribution Channel
o Specialty Store
• Market, by Application:
• Market, by Region:
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.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Channel Partner Analysis
• Detailed list of distributors and dealers across all major countries.
• Detailed analysis and profiling of additional market players (up to five).
• List of major customers of Furniture Polish and List of current suppliers of Furniture Polish.
Read the full report: https://www.reportlinker.com/p05933033/?utm_source=GNW
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