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India Metal Polish Market Research Report: By Distribution Channel (Department/Convenience Stores, Supermarkets/ Hypermarkets), Product Type (Paste, Liquid), Application (Guns Knives), End User (Marine, Automotive, Residential) – Industry Analysis and Growth Forecast to 2030

  • Published: January 2021
  • Report Code: CM12120
  • Available Format: PDF
  • Pages: 91

India Metal Polish Market Overview

The India metal polish market stood at $26.51 million in 2019, and it is expected to demonstrate a CAGR of 4.6% during the forecast period (2020–2030). Some of the key growth factors for the metal polish industry in the country are the rising realization about improving the aesthetic appearance of metallic surfaces and surging consumption of such polishes in the marine industry.

The COVID-19 pandemic has brought the world to a standstill, affecting major operations and resulting in an industrial catastrophe. The pandemic has affected every industry, including the India metal polish market, due to the temporary shutdown of automotive, electronic goods, and shipbuilding units. This, in turn, has led to a slump in the demand for metal polishes, which, coupled with the disruptions in the supply chain, has significantly changed the market scenario for the short term. However, with the lifting of lockdowns and reopening of manufacturing facilities in the country, the market is projected to showcase recovery in 2021.

India Metal Polish Market Outlook

Department/Convenience Stores Account for Largest Share owing to Accessibility

In 2019, the department/convenience stores category accounted for the largest size in the India metal polish industry, on the basis of distribution channel. This can primarily be attributed to the major chunk of the population having better access to general stores in comparison to hypermarkets. Additionally, the lack of awareness about online modes of shopping makes departmental stores a suitable choice for industrial workers and residential users.

Paste Polishes To Retain Their Dominance throughout Forecast Period on Account of Ease of Usage

The paste category, based on product type, accounted for the largest volume share during the historical period (2014–2019), and the trend is likely to continue throughout the forecast period. This can primarily be attributed to the high suitability and ease of use of pastes for polishing purposes in numerous applications, ranging from marine and automotive to residential.

Knives Application To Witness Highest Demand owing to Surge in Production Levels

During the forecast period, the knives category is expected to witness a spur in demand for metal polishes, based on application. This can primarily be ascribed to the widescale usage of knives for marine utilities, as well as automotive diecasting. Such heavy-duty applications require the knives and blades to be polished at all times, in order to prevent corrosion and ensure smooth production operations.

Automotive Category To Witness Highest Demand on Account of Rise in Production

Automotive was the largest end user of metal polishes in India in 2019, and the category is further expected to hold the largest share in the market during the forecast period. This can be ascribed to the increase in automotive production, along with the surge in the investments for the setup of new automobile manufacturing facilities. Automobile parts and components require frequent polishing in order to allow vehicles to run smoothly, on account of which there is a high demand for such polishes. With the growth of the automobile sector in the country, the metal polish market is expected to grow.

Growth of End-Use Industries To Promote Consumption of Metal Polishing Products in India

The India metal polish market is majorly being driven by the rising need for aesthetically appealing metallic surfaces for residential as well as industrial applications. Additionally, polishing helps in removing the corroded metal thus making the product more durable. The rise in automotive production and shipbuilding activities in the country is expected to create ample growth opportunities owing to the requirement of such polishes in high volumes for two-wheelers and other automobiles and marine vessels. The components of such vehicles frequently require surface polishing for continuous and efficient operations.

Additionally, since India is a developing country, the surging consumer spending on aesthetically appealing silverware and polished goods for display at hotels, restaurants, and malls, along with the need for metallic products to demonstrate appreciable performance, significantly propels the consumption of polishing materials. Such factors are expected to promote the growth of the India metal polish market during the forecast period.

Technological Advancements in Polishing Methods

The most prominent trend being observed in the India metal polish market is the technological advancements in polishing methods. Traditional metal polishing involved manual labor, due to which industrial lines would often come to a standstill, which impacted the production efficiency. Hence, in recent times, the usage of conveyor belts for mechanical polishing, chemical polishing, electrochemical polishing, and electrolyte plasma polishing (EPP) has garnered pace. Additionally, EPP offers a high performance, efficiency, and quality at a low material cost and flammability risk.

India Metal Polish Market Drivers

Rising Polish Usage to Improve Appearance of Metallic Surfaces

In India, an increase in the disposable income and per capita spending of citizens has created a focus shift toward better lifestyles. This, in turn, has increased the living standards and requirement for materials that can help in improving the aesthetics of products, as well as increase their durability. For metals, including stainless steel, aluminum, copper, chrome, and brass, polishes fulfill these purposes. Such polishes help in the restoration of gloss, make the surface smoother, and remove corrosion. Owing to such advantageous properties of metal polishes, the demand for them is expected to increase in the coming years, in turn, propelling the India metal polish market.

Surging Consumption in Marine Industry

Metal polishes are widely used on boats and cargo ship railings, metal fittings, and other components to remove the surface rust, corrosion, and tarnish caused by saltwater, air, and prolonged exposure to ultraviolet rays. Additionally, the polish provides a shine to the deck of the marine vehicle. With the increase in maritime trade from India, the marine industry has showcased strong growth, owing to which the maintenance of ships has come into the limelight. This, in turn, has benefitted the metal polish market to a great extent, since traders and ship owners are now prioritizing the maintenance of vessels.

India Metal Polish Market Report Coverage
Report Attribute Details
Historical Years 2014-2019
Forecast Years 2020-2030
Base Year (2019) Market Size $26.51 million
Forecast Period (2020-2030) CAGR 4.6%
Report Coverage Market trends, revenue estimation and forecast, segmentation analysis, value chain, analysis, Porter’s five forces analysis, company share analysis, company profiling
Market Size by Segments Distribution channel, product type, application, end user
Market Size of Geographies Chrome Star Chemical Works, Western Abrasive Industries Pvt. Ltd., Dara Allied Products, menzerna polishing compounds GmbH & Co. KG, The Waxpol Industries Limited, Pitambari Products Pvt. Ltd., ABRO Industries Inc., WD-40 Company, 3M Company, Reckitt Benckiser Group plc
Secondary Sources and References (Partial List) All India Non-Ferrous Metal Exim Association, Aluminium Association of India, Indian Metal Component Manufacturers Association, Indian Stainless Steel Development Association, Indian Steel Association, International Chromium Development Association, International Industrial Association, International Monetary Fund, Jamnagar Factory Owner's Association, World Health Organization

 

3M Company’s Extensive Supply Chain across India Makes It Leading Player

The India metal polish market is consolidated in nature with the presence of a few large-scale players, such as 3M Company, menzerna polishing compounds GmbH & Co. KG, Reckitt Benckiser Group Plc, WD-40 Company, Pitambari Products Pvt. Ltd., and The Waxpol Industries Limited. Of these, 3M Company held the largest share in the India metal polish industry in 2019, primarily on account of its extensive supply chain and distributor network across the country.

Additionally, the metal polishing products provided by this company are widely adopted by various industries, namely automotive and automotive refinish, marine, defense (for the polishing of guns), and residential (for the polishing of knives and aluminum, nickel, and cobalt (ALNICO) and megallium metal alloys used in furniture). The polishes delivered by this firm restore the aesthetic beauty of products, such as cars in showrooms, which makes them more irresistible to potential buyers.

India Metal Polish Market

Key Players in India Metal Polish Market Include:

  • Chrome Star Chemical Works
  • Western Abrasive Industries Pvt. Ltd.
  • Dara Allied Products
  • menzerna polishing compounds GmbH & Co. KG
  • The Waxpol Industries Limited
  • Pitambari Products Pvt. Ltd.
  • ABRO Industries Inc.
  • WD-40 Company
  • 3M Company
  • Reckitt Benckiser Group plc

India Metal Polish Market Size Breakdown by Segments

The india metal polish market report offers comprehensive market segmentation analysis along with market estimation for the period 2014-2030.

Based on Distribution Channel

  • Department/Convenience Stores          
  • Supermarkets/ Hypermarkets

Based on Product Type

  • Paste
  • Liquid

Based on Application

  • Guns
  • Knives

Based on End User

  • Marine
  • Automotive
  • Residential
Frequently Asked Questions About This Report
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