Furniture Polish Global Market Report 2024

The global furniture polish market 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 global furniture polish market 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.

Anticipated growth in the furniture polish market is attributed to the increasing utilization of wood. Wood, a natural material sourced from tree roots, stems, and branches, serves as a key resource for crafting various wood-based products. Furniture polish designed for wooden surfaces offers numerous advantages, including surface protection and versatility for preserving and enhancing the aesthetic appeal and durability of wood-based furniture and surfaces. As an example, statistics from the Natural Resources Institute, a government agency in Finland, reported a substantial rise in the use of round wood, reaching 85.2 million cubic meters in 2021, marking a 9% increase from the previous year. Additionally, other wood-related by-products and waste utilization saw a 17% rise to 27.7 million cubic meters. This upsurge in wood usage is a driving force behind the furniture polish market's growth.

The burgeoning construction sector is set to be a driving force behind the expected growth in the furniture polish market. Construction activities encompass the various processes involved in the construction, repair, or demolition of structures and infrastructure. Furniture polish plays a vital role in safeguarding wooden elements such as window frames, doors, cabinets, and countertops within the construction domain. As an illustration, data from a report published by Oxford Economics, an economic information services company based in the UK, revealed that global construction output reached $10.7 trillion in 2020. The outlook for 2030 is even more promising, with an anticipated 42% growth, equivalent to $4.5 trillion, pushing the construction output to $15.2 trillion. Hence, the surge in construction activities is a significant driving factor for the expansion of the furniture polish market.

The significant obstacle to the growth of the furniture polish market arises from the elevated cost of chemicals. This cost burden is influenced by several factors, including disruptions in the supply chain, escalating energy expenses, and heightened demand. The high chemical costs associated with furniture polish create a substantial barrier for consumers considering the purchase of these products. As an illustration, data from the U.S. Bureau of Labor Statistics in July 2023 revealed a 12.8% increase in the price index for the chemical industry in 2021. Consequently, the prohibitive expense of chemicals is impeding the expansion of the furniture polish market.

Prominent companies in the furniture polish market are introducing inventive products, such as Leather Polish enhanced with advanced barrier protection technology, to drive market revenues. This advanced technology is specifically engineered to safeguard furniture against potential threats and hazards, encompassing spills, stains, odors, moisture, allergens, and even microbial growth by creating protective shields on furniture surfaces. For example, in March 2021, Furniture Clinic Limited, a manufacturer of furniture polish based in Durham, unveiled a product named Leather Polish. This water-based, high-end polish is designed to provide leather furniture with an elevated sheen that not only enhances color but also offers protection and nourishment to the leather. It imparts a high shine and leaves surfaces with a velvety smooth texture, among other benefits. Advanced barrier protection technology in this product incorporates a blend of silicones and waxes formulated to nourish and hydrate, thus preventing the leather from drying out and becoming brittle.

In January 2022, OpenGate Capital, a private equity firm based in the United States, acquired Chemisphere Corporation for an undisclosed sum. This acquisition was a pivotal component of OpenGate Capital's strategy to establish a platform for specialty chemicals. Chemisphere Corporation, a chemical facility based in the U.S., is renowned for offering premium lemon oil furniture polish and cleaner.

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.

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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the furniture polish market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of furniture polish products include solvents, liquids, and aerosols. Solvent-based furniture polish comprises a blend of solvents, oils, and additional additives that collaborate to effectively clean, shine, and protect furniture. This type of furniture polish is particularly well-suited for oil-finished wooden furniture, enhancing the furniture's luster, gloss, and preserving the intricate wood grain. These solvent-based furniture polishes are crafted from materials such as alkyd, melamine, polyester, lacquer, and others. They are distributed through various channels, including wholesalers, distributors, supermarkets, hypermarkets, specialty stores, and online retail platforms. The end-users of furniture polish encompass households, corporate offices, the hospitality sector, educational institutions, restaurants and cafes, furniture manufacturers, and a diverse range of other applications.

This report provides furniture polish market statistics, including furniture polish industry global market size, regional shares, competitors with a furniture polish market share, detailed furniture polish market segments, market trends and opportunities and any further data you may need to thrive in the furniture polish industry. This furniture polish market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The furniture polish market consists of sales of clear wood polishes, emulsion wood polishes, silicone wood polishes and wax wood polishes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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