Overview and Scope
Furniture polish is a type of product used to clean, shine and protect furniture surfaces. It is designed to enhance the appearance of wood furniture, while also providing a layer of protection against dust, dirt and moisture
Sizing and Forecast
The furniture polish market size has grown strongly in recent years. It will grow from $10.2 billion in 2023 to $10.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to wooden furniture prevalence, consumer lifestyle changes, environmental awareness, marketing and branding.
The furniture polish market size is expected to see strong growth in the next few years. It will grow to $14.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability and green products, e-commerce growth, home improvement trends, premium and specialty products. Major trends in the forecast period include smart home technology, plant-based formulas, digital marketing and influencers, collaboration with furniture manufacturers.
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Segmentation & Regional Insights
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; Supermarket Or Hypermarkets; Specialty Stores; Online Stores
4) By End Use: Household; Corporate Offices; Hospitality; Educational Institutes; Restaurants And Cafes; Furniture Manufacturers; Other End Uses
North America was the largest region in the furniture polish market in 2023. 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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Major Driver Impacting Market Growth
The increasing use of wood is expected to propel the growth of the furniture polish market going forward. Wood is a natural substance from tree roots, stems and branches used to craft wood-related products. Furniture polish for wood offers several benefits, such as surface protection and versatility for maintaining and enhancing the appearance and longevity of wooden furniture and surfaces. For instance, in November 2022, according to the Natural Resources Institute, a Finland-based government office, total round wood use in Finland in 2021 was 85.2 million cubic meters, an increase of 9% from the previous year. Furthermore, the number of by-products and other types of wood waste used was 27.7 million cubic meters, an increase of 17% from a year earlier. Therefore, the increasing use of wood is driving the growth of the furniture polish market.
Key Industry Players
Major players 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.
The furniture polish market report table of contents includes:
1. Executive Summary
2. Furniture Polish Market Characteristics
3. Furniture Polish Market Trends And Strategies
4. Furniture Polish Market – Macro Economic Scenario
5. Global Furniture Polish Market Size and Growth
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26. South America Furniture Polish Market
27. Brazil Furniture Polish Market
28. Middle East Furniture Polish Market
29. Africa Furniture Polish Market
30. Furniture Polish Market Competitive Landscape And Company Profiles
Top Major Players:
- The Sherwin-William Company
- Reckitt Benckiser PLC
- Axalta Coating Systems Ltd
- The Valspar Corporation
- Asian Paints Ltd.
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