Polyurethane Finish Market to Dominate India Furniture Polish Market
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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