Due to the rising demand for better aesthetics of metallic surfaces, the requirement for metal polishing is surging sharply in India. The increasing per capita expenditure and disposable income of the people residing in the country is contributing heavily toward the changing lifestyles and customer requirements. This is pushing up the demand for materials such as metal polishes that can significantly improve the aesthetics of various products and their durability.
This is further boosting the demand for metal polishes in the country. Due to these factors, the Indian metal polish market is demonstrating rapid advancement. According to the estimates of P&S Intelligence, a market research company based in India, the value of the market will grow from $26.51 million in 2019 to $37.10 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 4.6% between 2020 and 2030.
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Metal polishes are sold via supermarkets/hypermarkets and department/convenience stores in India. Between these, the sales of metal polishes via department/convenience stores were found to be higher during the past few years and this trend is likely to continue in the coming years as well. This is mainly attributed to the growing preference of industrial workers and residential consumers for buying these materials from nearby hardware stores and general stores over buying them from hypermarkets or supermarkets.
Automotive, marine, and residential sectors are the biggest end users of metal polishes in India. Out of these, the usage of metal polishes is predicted to rise enormously in the automotive industry in the forthcoming years. This will be because of the growing demand for metal polishes for removing corroded materials from various automotive components and parts. As these materials severely hamper a vehicle’s efficiency, their removal is extremely necessary for ensuring the smooth and efficient functioning of the automobile.
Hence, it can be said with full certainty that the demand for metal polishes will shoot-up in India in the future years, primarily because of their growing requirement for improving the aesthetics of metallic surfaces and removing corroded materials from automotive parts and marine vehicle components.
Read more: https://www.psmarketresearch.com/market-analysis/india-metal-polish-market
