Household Polishes Market

Household Polishes Market Statistics (2022-2032)

In FY 2021, the household polishes market reached a valuation of US$ 371.0 Million, and is likely to register a Y-o-Y growth rate of 5.0% in 2022, closing at US$ 393.26 Million.

Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 6% CAGR, reaching US$ 704.27 Million.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 371.0 Million
Expected Market Value (2022)	US$ 393.26 Million
Projected Forecast Value (2032)	US$ 704.27 Million
Global Growth Rate (2022-2032)	6% CAGR
Expected Growth Rate of the US Market (2022-2032)	5.7% CAGR
Anticipated Growth Rate of Chinese Market (2022-2032)	5.5% CAGR
Prominent Household Polishes Service Providers	Henkel AG & Co. KGaA Reckitt Benckiser Group plc. Johnson & Johnson Rust-Oleum Corporation Parker & Bailey Corporation Kao Corporation Godrej Group Amway Corporation

Emulsion polish is made from a combination of petroleum products and water. It is white in color. Emulsion polish can clean grease and water-soluble dirt. Silicon polish is made by adding silicon oil to petroleum products or emulsion carriers.

Petroleum distillate solvent is the primary ingredient used in the manufacture of household polish. It is a type of mineral spirit that has slower evaporation rate. It is oily. The main application of household polishes is to shine wooden and metal surfaces in different industries. As such, use of household polishes for woodwork and leather is rising. Polish also increases the life of furniture and infrastructure. Hence, demand for household polishes for furniture is high.

It is used to polish exterior body parts, interior wooden parts, various metal parts, and seats in the automotive sector. Use of household polishes for metal is increasing and demand for coating operations for protecting metal and wooden furniture in the residential and hospitality sectors has been attractive for years, and is driving market growth.

2017-2021 Revenue Analysis of Household Polishes Market vs. Growth Outlook 2022-2032

According to market research and competitive intelligence provider Fact.MR, the Household Polishes market experienced noteworthy growth, growing at a value CAGR of 2.8% from 2017 to 2021.

Household polish is largely used as furniture polish in the residential housing decoration market. The furniture market has been expanding significantly due to growth of the construction industry. This is estimated to propel the expansion of the household polishes market.

Rising demand for household polishes for furniture in the hospitality industry, growing use of household polishes on wooden furniture, and shift toward using less toxic chemicals for cleaning and polishing have boosted market growth. The healthcare segment is estimated to dominate the market during the forecast period due to rise in geriatric population across the globe. Household polish is used to clean and maintain a hygienic environment in healthcare settings.

Key Market Drivers Influencing Household Polishes Industry Expansion

Increase in Sanitation Standards to Bolster Market Growth Prospects

Household polish products are widely used to maintain cleanliness, for regular cleaning, and for pest control. Increased focus on maintaining good hygiene can be attributed to the fact that a lack of hygiene may lead to diseases such as Buruli ulcers and diarrhea.

There is a growing trend in both developing and developed countries to buy hygiene products and home care products. In addition, there is increasing use of household polishes for commercial use where textile filters and over-the-top deodorizers have provided significant impetus to the household polishes market.

According to the data released by the World Health Organization, in 2015, poor sanitation resulted in the deaths of 280,000 people due to diarrhoea worldwide. Unsanitary habitats cause various diseases, leading to the need for appropriate cleaning solutions that help keep spaces clean and free of harmful bacteria such as cyanobacteria, staphylococcaceae, and acid bacteria. These factors are expected to propel the demand for household polishes during the forecast period.

Full Disclosure of Ingredients on the Labels to Propel Market Growth

There is a growing trend of providing information on the product's constituents. After the Consumer Product Ingredient Communication Initiative was formed in 2010, companies began to share information about the contents in products, including air care, floor cleaners, and household care products. Buyers want to know what chemicals are in cleaning products and how they can be trusted. They want to know about the transparency of end products and supply networks in general.

Many consumers compare product ingredients and the risks associated with specific components. As word-of-mouth advertising is a significant component of Household Polishes product marketing, companies are displaying product ingredients to boost consumer confidence.

Key Challenges encountered by Household Polishes Industry

Lack of Customer Retention to Impede the Market Prospects

Product preferences differ from person to person and are influenced by psychographic, demographic, and behavioral factors. Consumer behavior is mostly impacted by lifestyle standards and awareness. Consumer loyalty and product distinctiveness are difficult to maintain in today's market for Household Polishes products.

Consumers are frequently drawn to innovative items, and as a result, they are unable to remain loyal to a single product or brand. Small & medium-sized manufacturers are finding it increasingly challenging to keep up with changing trends due to changing consumer preferences. As a result, these issues together limit market expansion.

Side Effects of Chemicals Used in Household Polishes to Limit the Market Growth

Chemicals used in indoor household polishes can be toxic and may lead to various side effects, which cause allergies or other skin-related problems, thus hindering the growth of the household polishes market. In addition, the high diversity of Household Polishes products is expected to hinder the growth of the market.

Furthermore, lack of awareness and poor infrastructure in less developed countries in Asia and Africa poses a serious challenge to industry players and limits the continued growth of the Household Polishes products market. Several substitute products that are easily available and comparatively cheap can pose a threat to the growth of the household polishes market worldwide.

Region-wise Analysis

How will the Growth of Household Polishes Market Escalate across the US.?

Rise in Automobile Ownership to Broaden Market Growth Prospects in the Country

As per Fact.MR, the US Household Polishes Market is slated to flourish at a CAGR of 5.7% until 2032. The household polishes market in the US is anticipated to expand at a moderate pace in the near future. Rise in automobile ownership, and increase in construction activities are the major factors that are expected to fuel the growth of the Household Polishes Market in the US, over the analysis period.

Moreover, factors such as growing demand for household leather polishes & footwear polishes in the country are expected to drive the market in the near future.

How will China Perform in the Global Household Polishes Industry Landscape?

Rising FDI in the Furniture Market in China to Boost the Market Growth

According to Fact.MR’s projections, the Household Polishes Market in China is forecast to expand at an impressive 5.5% value CAGR from 2022 to 2032. Increased demand for wooden furniture, rising residential construction, increasing disposable income, and rising FDI in the furniture market are driving demand for household scouring powders & paste and powder household polishes in the country.

China is one of the world’s top household polish distributors and also one of the top retailers of household polishes. There are huge opportunities for manufacturers of woodwork polishes in China. The Chinese economy is maintaining high speed growth, which has been stimulated by consecutive increases in industrial output, imports & exports, increasing sales of leather polishes & household footwear polishes, and capital investments for over two decades.

Country-wise Forecast CAGRs for the Household Polishes Market

Country	CAGR
U.S	5.7%
Japan	5.3%
China	5.5%
India	5.2%
U.K	5.0%

Category-wise Insights

Will Woodwork Polishes Segment remain Dominant in the Product Category?

High Demand for Woodwork Polishes Segment to Enhance Growth Prospects

By product, demand for woodwork polishes segment is likely to accelerate the fastest, documenting a value CAGR worth 5.4% from 2022 to 2032, according to Fact.MR.

The polishes market is increasingly driven by attractive demand for woodwork polishes. Demand for woodwork household polishes is set to increase at the most attractive growth rate during the forecast period.

Household polishes have gained increased popularity as furniture polishes over time. The standard and routine use of polishes for bringing sheen to wooden furniture, especially in the residential sector, is fueling the growth of the market.

However, ease of applicability is not only the prime concern for the use of household polishes on wooden furniture. A key aspect gaining significance among end users is the effect they leave on the furniture themselves over time, such as chemical residue and chemical buildup. In addition, growing demand for household polishes for furniture in the hospitality industry is also accentuating market expansion.

Which Sales Channel Will Remain More Preferred?

Modern Trade Segment to Dominate the Household Polishes Market

By sales channel, demand for modern trade segment is likely to accelerate the fastest, documenting a value CAGR worth 5.5% from 2022 to 2032, according to Fact.MR.

Modern trade may play a pivotal role in the expansion of the household polishes industry. In recent years, household polish powder sales through modern distribution outlets and household polish gels and paste demand have risen substantially. The trend will persist over the coming years as well.

Substantial revenue for the market is likely to come from regions such as Latin America and Asia Pacific excluding Japan. This is trailed by the sales of household polishes in convenience stores.

The Start-Up Ecosystem: How key Players are opening Frontiers for Future Growth?

Household Polishes Market players such as ThreeMain, CleanCult, Souji, Dreambly, Calyxia, Berry Clean, and Homethings, among others, are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,

• Established in 2018, the US-based startup ThreeMain produces non-toxic disinfecting household polishes. The cleaning products are carbon-neutral and contain disinfecting ingredients like hydrogen peroxide and hyaluronic acid. Hydrogen peroxide is active against a wide range of microorganisms, including bacteria, yeasts, fungi, viruses, and spores. It is a planet-friendly substitute for bleach or alcohol in cleaning products. Moreover, all their products are packaged only in sustainable packaging.
• Founded in 2016, the Puerto Rican startup CleanCult offers zero-waste cleaning products. The startup leverages its CocoClean technology which harnesses the natural antimicrobial and antifungal properties of coconuts but leaves out chemicals. Also, the startup develops a Refill-Recycle-Repeat system and puts dish soaps and laundry products in recyclable milk cartons. Customers match refillable glass bottles with respective refill cartons to get a sustainable cleaning experience.
• Established in 2021, the Spanish startup Souji offers cleaning soaps and detergents from recycled vegetable oil. The startup develops filters to convert used vegetable oil into a detergent without the use of caustic soda. Customers pour the oil through the filter and shake the bottle to get an environmentally-friendly cleaning product. The detergent is suitable for use in washing machines or hand-washing clothes, as well as for mopping floors and washing dishes.

Household Polishes Market - Competitive Landscape

Prominent players in the Household Polishes Industry are taking advantage of the rapidly increasing demand for the Household Polishes in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:

• In January 2022, Henkel Corporation planned to combine its beauty care business with laundry & home care segment. The company is aiming to create new consumer brands through combined new platform.
• In December 2021, Unilever launched a new dishwashing liquid with 100% naturally derived ingredients. The product is more renewable, 99% biodegradable and launched in the bottles made with 100& recyclable plastics. The company is aiming to reduce the carbon footprints and reduce the dependency on fossil-based ingredients.
• In April 2021, Godrej Consumer Products Ltd. (GCPL) launched a new 2-in-1 liquid detergent under its Ezee brand in India. This product is suitable for washing machine and bucket. With the launch of this product, GCPL aimed to de-seasonalize the liquid detergent offerings and enter into regular cloth detergent category.

Key Segments Covered in the Household Polishes Industry Survey

• By Form :

  • Liquid Household Polishes
  • Gel & Paste Household Polishes
  • Powder & Granules Household Polishes

• By Product :

  • Woodwork Polishes
  • Leather Polishes
  • Footwear Polishes
  • Scouring Powders & Paste

• By Application :

  • Healthcare
  • Automobiles
  • Construction

• By Sales Channel :

  • Modern Trade
  • Grocery Stores
  • Convenience Stores
  • e-Commerce Channels

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA