Factors such as the rising consumption of metal polish in the marine sector of India, on account of the surging maritime trade; and increasing realization about enhancing the aesthetic appearance of metallic surfaces, due to the mounting disposable income, will drive the Indian metal polish market at a CAGR of 4.6% during the forecast period (2020–2030). Owing to these factors, the market is expected to grow from $26.51 million in 2019 to $37.10 million by 2030.
The growth of the Indian metal polish market can be attributed to the rising preference for aesthetic metallic products, owing to the surging disposable and per capita income of the Indian citizens. Improved living standard has boosted the demand for durable and aesthetically enhanced products. The usage of metal polishes on stainless steel, brass, aluminum, chrome, and copper products helps in removing corrosion, restoring gloss, and smoothening the surfaces of these products.
The product type segment of the Indian metal polish market is classified into paste, liquid, and others. Among these, the paste category accounted for the largest market share in 2019 and it is expected to maintain its dominance in the market in the forecast years as well. This can be ascribed to the easy use and high suitability of pastes for polishing purposes in the marine, automotive, and residential industries.
Thus, the rising demand for aesthetic and durable products in India and the increasing advancements in polishing methods will augment the consumption of metal polishes in the country, in the foreseeable future.
Key Findings of India Metal Polish Market Report
• Department/convenience stores most-profitable distribution channel for players
• Metal polishing methods in India undergoing technological advancements
• Demand for metal polishes to rise fastest for usage on guns
• Automotive sector largest end user of metal polishes in India
• Market consolidated in nature due to presence of few established players
• 3M Company supplies much of metal polishes across India
Source: www.psmarketresearch.com
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