Increasing construction activities and expanding furniture industry to boost India furniture polish market through 2025

According to TechSci Research report, India Furniture Polish Market By Type, By Source, By Distribution Channel, By Application, Competition, Forecast & Opportunities, 2025”, India furniture polish market is projected to grow from $ 875 million in 2019 to $ 1.44 billion by 2025 owing to the increasing construction activities across the country, especially in the residential sector. Moreover, expanding furniture industry and rising number of government initiatives towards infrastructure development like ‘Housing for All’ and ‘Smart City Mission’ are accelerating the growth of the country’s construction sector, which is driving furniture polish market in India.

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The purpose of applying furniture polish to the wooden furniture is to protect the furniture from any wear and tear and to enhance the appearance of the furniture. The manufacturers are focusing on developing new furniture polishing products to cater the growing demand from household as well as commercial sectors. For example., Asian Paints, one of the leading players in furniture polish market in India, has developed water-based polyurethane finish, which has minimal harmful effects on both product and environment. Also, manufacturers are trying to build up more interest among customers by allowing them to gain access to detailed specifications and special features, which can be vital for enhancing the furniture’s durability and appearance. 

The India furniture polish market is segmented based on type, source, distribution channel, application, region and company. Based on type, the market is fragmented into liquid, semi-solid and aerosol polish, of which, liquid finish furniture polish segment dominates the market due to its high demand as it is easy to use and adds shine to the furniture. However, rising demand for aerosol polish in India is also supporting the growth of the furniture polish market in India. On the basis of source, the market is segmented into PU (polyurethane), melamine, polyester, PU Alkyd Resin, nitrocellulose, and lacquer. All of these finishes are used to protect the wood and applied as the top coat. However, despite of these similarities there is significant difference between them. The PU segment dominates the market as it is available in various finishes from matte to gloss and it can be directly applied to the furniture. Also, it comes in two formulations viz., oil-based and water-based, which can be chosen depending on the product. In addition, the melamine finish also comprises of over 20% share in the market on account of its durability and affordability.

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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. “India furniture polish market is witnessing continuous growth, owing to increasing disposable income and rising demand for high value furniture across various region in the country. The use of furniture polish in the country’s residential segment will continue to grow in India during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Furniture Polish Market By Type, By Source, By Distribution Channel, By Application, Competition, Forecast & Opportunities, 2025 has evaluated the future growth potential of India furniture polish market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India furniture polish market.

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 Source : TechSci Research