Polishing powderis generally used to remove or smoothen scratch marks from different services such as stone, glass, jeweler items, and others. These powders are made up of oxalic acid or oxalates that are efficient in polishing and removing scratches. They not only enhance the appearance and aesthetic properties of the product but also add other benefits,including durability and resistance to microbial contaminants. Polishing powders have a wide range of applications in different end-user industries such as automotive, electronics, construction, and others.
The outbreak of the COVID-19 pandemic has severely affected the global polishing powder market.
• As a result of the global economic slowdown caused by the pandemic, the demand for automobile has decreased significantly. This has caused a fall in demand for polishing powders used for providing superior finish to vehicles in the automobile sector.
• On the other hand, the construction industry has also faced severe consequences since the advent of the pandemic. Most of the construction projects had come to a halt as there was a major lack of workforce. As a result, the applications for polishing powders decreased, thereby affecting the market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
One of the major factors responsible for increasing demand for polishing powder is its extensive use in the construction sector, especially for polishing marble and other stones used in construction projects. These powders remove sharp scratch marks and provide a smooth glossy finish to the surfaces. They also help in restoring the moisture of limestone, terrazzo marble, and travertine floors since the polishing powders are acidic in nature, thereby providing a wet glossy look. They also offer anti slip and anti-fouling characteristics to the stones and marbles. On the other hand, polishing powders are also used in automotive and electronics industries for providing better finishing to the products. Moreover, these powders offer anti-corrosion, UV resistance, anti-abrasion properties. However, the fluctuating prices of the raw material might act as a restraining factor for the market. Nonetheless, several government initiatives aiming toward infrastructural development and construction, especially in the emerging nations are expected to boost the demand for polishing powder in the construction sector. For example, the Pradhan Mantri Awas Yojna (PMAY) was launched in 2015 in India.
In terms of market share, the Asia-Pacific region holds the major share of the global polishing powder market due to the high demand for polishing powder in construction and electronics industries in the region. The market in Europe and North America is also expected to grow at a significant pace, owing to the presence of major automobile industries in the region.
Key benefits of the report:
- This study presents the analytical depiction of the global polishing powdermarket along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global polishing powder market share.
- The current market is quantitatively analyzed to highlight the global polishing powder market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the polishing powder market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Polishing Powder Market Report Highlights
By End-use Industry
Key Market Players
Mitsui Chemicals, AMG, TFC, Hunan Haozhi New Materials Co., Ltd., Gansu Rare Earth Group, Jiaxin, YixingXinweiLeeshing, Universal Photonics, Reade, Dupont