Furniture Polish Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027

 


Furniture polish sales are likely to grow at over 4% y-o-y in 2019 and surpass 230 mn liters in 2019. The demand for furniture polish has significantly taken off in tandem with the broader growth in the furniture industry. Gains have been complemented by a notable rise in furniture exports, a key aspect encouraging high-scale production activities. FMI’s new study on furniture polish market profiles this evolving landscape, bringing key insights to the fore.

Technological reformations and extensive analysis of end-user specification sentiments remain vital for growth in furniture polish market. According to FMI’s analysis, penetration of e-commerce channels is inducing a massive shift among customers toward online channels. This trend is further being driven by availability of multiple products along with favorable deals.

Rise in Internet Penetration Paving the Way for Global Furniture Polish Market Growth

[170 Pages Report] The furniture polish Market is valued at US$ 9.7 Billion in 2021. The market is likely to grow at a CAGR of 5% through 2027, reaching US$ 13.1 Billion by 2027.

Aerosols are the largest product type segment, accounting for nearly 43% of all sales in 2021.

Asia Pacific excluding Japan accounts for nearly 30% share of the market in 2021.

With the increase in the number of furniture installations in household and commercial sectors, maintaining furniture and protecting it from dust and other external factors has become crucial. Various types of furniture are used to provide spacious interior looks to a household as well as commercial spaces and furniture eventually requires periodical maintenance, which necessitates the use of furniture polish.

Furniture polish is a non-foaming neutral liquid used for coatings to provide finishing touches to various carpentry and woodworks. Furniture polish finds a wide range of applications in household as well as commercial sectors as it can clean and polish any kind of furniture, ranging from wooden desks, panels, kitchen cabinets, table tops to woodwork.

Rapid transition toward water-based furniture polish is a palpable trend picking in furniture polish market. The disadvantages associated with chemical-based furniture polish, such as strong odor and harmful fumes, are inducing a shift towards water-based variants with safer applications. According to FMI’s analysis, water-based furniture polishes sales are also likely to grow on account of increasing reluctance toward VOC-inclusive products.

The FMI study finds that end-user preference for aerosol furniture polish continues to remain intact, with global sales likely to exceed 87 mn liters in 2019. Ease of usage, streak-free luster, and competitive pricing are among the key factors fuelling demand for aerosol furniture polish over other variants.

“In a bid to gain a competitive edge, manufacturers are vying to differentiate their marketing strategies with new ideas. For instance, key manufacturers of furniture polishes participate in large furniture fairs where they present and promote their collections among furniture enthusiasts”, says FMI’s report

Fire- and Heat- Resistant Furniture Sales Witnessing a Surge

While aerosol furniture polish continues to witness healthy demand, solvent-based furniture polish coffee machines are likely to proliferate at an impressive rate. Widely-acknowledged for their optimal efficiency, demand for solvent-based solutions is likely to grow at an impressive rate in 2019.

Melamine remains a highly-favored source in the furniture polish market as it offers a greater degree of flexibility and versatility to end-users. As end-users demand polishes that enhance fire- and heat- resistance, melamine sales have witnessed a spike in the recent years — the FMI study forecasts melamine furniture polish will surpass 65 mn liters in 2019.

According to FMI’s study, Asia Pacific excluding Japan (APEJ) accounted for nearly 30% share of the furniture polish market in 2018. Demand for furniture polishes in APEJ remains concentrated in China and India, where a burgeoning middle class continues to create sustained opportunities for manufacturers. The FMI report opines that APEJ will continue to be the largest market for furniture polishes in 2019, with North America and Europe following suit. Furniture polish sales in North America are likely to remain concentrated in the US, whereas EU5 countries continue to be at the forefront of demand in Europe.

The FMI study also profiles growth opportunities in emerging markets. The report opines that Middle East and Africa (MEA) will offer lucrative opportunities for furniture polish manufacturers, as many countries in the region work towards reducing their dependence on oil exports. The study remains bullish on the furniture polish sales in MEA, with revenues likely to grow at 2.8% y-o-y in 2018.

Request Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-8590

The FMI report analyzes emerging opportunities in the furniture polish market for the forecast period of 2019-2027. As per the report, the furniture polish market is estimated to grow at a volume CAGR of 4.6% through 2027.

Key SegmentOn the basis of product type

  • solvent
  • liquid
  • aerosols

On the basis of source

  • alkyd
  • melamine
  • polyester
  • lacquer
  • others

On the basis of end use

  • household
  • corporate offices
  • hospitality
  • educational institutes
  • restaurants & cafes
  • furniture manufacturers
  • others

On the basis of sales channel

  • wholesaler/distributors
  • supermarket/hypermarkets
  • specialty stores
  • online stores

Comments

Post a Comment

Popular posts from this blog

Pulses Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2022 - 2030

Image
  Future Market Insights (FMI) has anticipated the global  pulses market   to surpass a revenue threshold of US$ 100 Bn by the end of the 2020-2030 forecast period, in its recently published report. FMI opines the market is slated to scale new heights amid heightening demand for fiber-rich and nutrient infused foodstuffs. Recent years have seen an upsurge in the availability of pulse based instant foods. Pulses are known to reduce cholesterol and triglyceride levels, thus enhancing life expectancy. After taking the COVID-19 pandemic into consideration, growth prospects for the global pulses market appear largely optimistic, with sluggishness staving off due to relaxation of lockdowns. Key Takeaways from FMI’s Pulses Market Report APEJ to represent lucrative growth opportunities, generating nearly 60% of revenue Dried beans to enjoy widespread popularity, attributed to the presence of vital micronutrients Demand for organic pulses experiencing northward shift, expanding at a CAGR exceed
Read more

Tinea Pedis Treatment Market Key Players, End User, Demand and Consumption by 2032

  The global   tinea pedis treatment market   is expected to reach   US$ 1.35 Bn   in 2022, and further expand at a CAGR rate of   5.2%   to surpass   ~US$ 2.24 Bn   by the end of 2032. In terms of disease indication, the interdigital tinea pedis treatment market is expected to lead with a share of about   68.3%  in 2022. The extensive research report titled  “ Tinea Pedis Treatment Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027) ”  crafted by Future Market Insights assists the reader in compiling and slating key growth strategies with a view to maintain correct growth rhythm in spite of the changing market dynamics in the current as well as in the future. Analysis on each segment of the market is included and assessment of these segments across key region in the globe is presented in a methodical format in the report. The research reflects the global market view in a nutshell The research report on tinea pedis treatment market covers various trends,
Read more

Glamping Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2032

Image
  According to a recent report by Future Market Insights (FMI), the  glamping market  is expected to reach a valuation of  US$ 10.6 Bn  in 2032, expanding at an impressive  11.8% CAGR  over the assessment period.   ·        To Get a Sample Copy of the Report visit @    https://www.futuremarketinsights.com/reports/sample/rep-gb-14326 Increasing government-backed investments in the tourism sector across the globe is a chief factor driving the glamping market. Players in the tourism sector are offering better means to attract more tourist to outdoor locations. The uptake and integration of technologies in such locations is encouraging consumers to opt for outdoor recreational activities, thereby augmenting the growth in the market. The developments of recreational vans and other motor homes with rental services is another factor boosting the market. Individuals are spending quality time with family and friends in remote areas and with the availability of all the resources at hand, which i
Read more