Metal Polish Products Market

Metal Polish Products Market Snapshot (2022 to 2032)

Metal polish products commerce is expected to display a CAGR of 5.7% while garnering a market value worth USD 23.5 Billion by the end of the forecast period from 2022 to 2032. As of 2021, the market was valued at USD 9.2 Billion and is poised to reflect a Y-o-Y growth rate worth 4% to reach USD 13.53 Billion in 2022.

Increasing usage of various metal alloys in machinery, furniture, and other metal products is expected to play a key role in strengthening the market during the forecast period.

Report Attributes	Details
Expected Base Year Value (2021)	USD 9.2 Billion
Projected Market Value (2022)	USD 13.53 Billion
Anticipated Forecast Value (2032)	USD 23.5 Billion
Estimated Growth Rate (2022 to 2032)	5.7%

A growing focus to enhance aesthetics is expected to increase demand for metal polish products during the forecast period. Increasing demand for metal furniture is anticipated to play a significant role in the coming period. With this, demand for premium-quality furniture has increased which is expected to benefit the industry in the coming period. The growing application of products like metallic benches and drawers for better aesthetics has boosted the market growth graph considerably.

Expanding furniture sector is likely to be a major consumer of metal polish products. Metal-based products witness significant demand in commercial gardens and playgrounds. Thus, increasing playground and garden infrastructural settings are projected to further drive market growth. In 2018, the Government of Australia announced the ‘The Monish Playground and Playspace Strategy 2020’, an initiative to develop garden parks and reserves in Monish, Australia. Such factors are expected to benefit the industry in the forecast period.

What are the Factors Positively Driving the Metal Polish Products Market?

Rising disposable income has resulted in an increased demand for luxurious and premium-quality furniture, which is projected to boost demand for metal polish products in the forecast period. Increasing adoption of cubicles and other corporate infrastructural settings is expected to grow demand for modern furniture, thus, growing demand for metal polish products during the forecast period.

Players in the industry are taking various initiatives to expand their footprint in other regions, which is expected to benefit the industry in the coming time. For instance, in 2020, BAXTER, a renowned Italian home fixture products company, along with its Indian supplier, Sources Unlimited, rolled out various luxurious and premium quality items in India. Such factors are expected to increase demand for metal polish products in the coming time.

Innovative methods to do marketing campaign is likely to offer exposure to the players, thereby, expanding market size in the forecast period. For instance, in October 2020, Inter IKEA Systems B.V. rolled out its regular Black Friday Sale campaign ‘buy-back’ across 27 countries to enhance its sales. Owing to such factors, the market is anticipated to expand significantly in the forecast period.

What are the Factors Impeding the Global Metal Polish Products Market?

Health issues associated while applying metal polish are expected to hinder the market growth in the forecast period. Metal polish poisoning is expected to hinder the market since it can cause problems with breathing, throat swelling, and others. Further, the growing popularity of using second-hand furniture is expected to impact the market severely in the forecast period.

However, the growing demand for metal polish in automobiles, cookware, architectural metal, and kitchenware is expected to boost demand for the product and thus, benefit the industry in the forecast period.

Why is Asia Projected to be the Most Lucrative Market?

Asia is anticipated to be the most lucrative market during the forecast period. The growth of the market can be attributed to the growing disposable income and the rapid development of various sectors such as furniture, automotive, and others. The presence of rapidly evolving countries such as India, China, Japan, and Indonesia is expected to make a notable contribution to strengthening the industry.

As per the USA Department of Agriculture, as of 2020, there were about 4,100 wood house furnishing products manufacturers in Guangdong, China. Such factors are likely to benefit the industry in Asia. Moreover, rapid industrialization in the region is expected to augment demand for metal polish, as the number of residents is expected to rise considerably in the forecast period.

Also, the development of the industrial sector will fuel demand for metal polish products in the forecast period. Owing to such factors, the market in Asia is expected to witness significant growth of the market in the forecast period.

What are the Growth Prospects in North America?

North America is projected to dominate the market in the forecast period. The domination of the region can be attributed to the active participation of developed countries such as the USA and Canada. Expansion of the furniture market in the region is expected to play a key role in driving the market growth.

Growing initiatives to expand players’ footprint in the market are expected to further strengthen the market. For instance, in 2018, Alibaba.com, a Chinese e-commerce giant, invested USD 2.88 Billion in furniture retailer EasyHome. EasyHome is a Canadian retailer business. Such initiatives are anticipated to boost demand for metal polish products in the forecast period.

Competition Analysis

Key players in the global metal polish products market are Rubbedin Cleaning Products, Canadian Tire Corporation, Limited., California Custom Products Inc., Reckitt Benckiser Group PLC, S. C. Johnson & Son, Inc, Diversified Chemical Technologies, Inc., White Diamond Detail Product, Weiman Products, LLC., Wizards Products, Turtle Wax, Inc., Halfords Limited, Menzerna polishing compounds GmbH & Co. KG, Cyclo Industries, Inc., Renaissance, and White Diamond.

• In 2021, Halfords Limited, the United Kingdom’s largest provider of motoring and cycling products, announced that it had signed a sale and purchase agreement to buy the entire share capital of Axle Group Holdings Ltd. The agreement is strategically and financially compelling, delivering on Halfords’ objective of developing into an institution inclining towards motoring services.

Report Scope

Report Attribute	Details
Growth Rate	5.7% CAGR from 2022 to 2032
Base Year for Estimation	2021
Market Value in 2022	USD 13.53 Billion
Market Value in 2032	USD 23.5 Billion
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	USD Million for Value and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Form Type, End User, Sales Channel, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Germany, France, United Kingdom, Italy, Russia, Spain, BENELUX, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Turkey, Israel, Egypt
Key Companies Profiled	Tri-Peek International Limited; Rubbedin Cleaning Products; Canadian Tire Corporation Limited; California Custom Products Inc.; Reckitt Benckiser Group PLC; S. C. Johnson & Son Inc.; Diversified Chemical Technologies, Inc.; White Diamond Detail Product; Weiman Products LLC.; Wizards Products; Turtle Wax Inc.; Halfords Limited; Menzerna Polishing Compounds GmbH Co. KG; Cyclo Industries Inc.; Renaissance
Customization Scope	Available upon Request

Key Segments Profiled in the Global Metal Polish Products Market

By Form Type:

• Liquids
• Sprays
• Gels
• Tablets
• Foam

By End Use:

• Households
• Industrial Use
• Metal Manufacturing

By Sales Channel:

• Hypermarkets
• Supermarkets
• Independent Retailers
• Multi-Brand Stores
• Specialty Retail Stores
• Polish Products
• Company Website
• 3rd Party Online Sales

By Region:

• North America
• Latin America
• Europe
• East Asia
• Oceania
• Middle East & Africa

Frequently Asked Questions

What is the projected growth of the global metal polish products market from 2022 to 2032?

The global metal polish products market is expected to expand at a 5.7% CAGR during the forecast period from 2022 to 2032

Which region is expected to be the most lucrative for global metal polish products market growth?

Asia Pacific is anticipated to be the most lucrative market during the forecast period

Which are some eminent global metal polish products market?

White Diamond Detail Products, Weiman Products, LLC, Wizards Products, and Turtle Wax, Inc., are some of the renowned players in the market.