The global polishing powder market is expected to grow rapidly over the forecast period owing to the developing real estate sector and marble polishing industries. Polishing powders are used to remove sharp scratch marks from the application product. It also gives a smooth and glossy finish to the product. Polishing powders are non-acidic in nature. It has its major application in metallographic sections, silicon wafers, precision optics, electro-optical crystals, acrylic lenses, gemstones, and ferrite components. Polishing powder also helps travertine floors, terrazzo, marble, and limestone in restoring their moisture on account of non-acidic nature which doesn’t affect the application products. Abrasive technology present in polishing powders is helping in giving wet look gloss in very less time as compared to other systems. Polishing powder also offers temperature resistance, anti-fouling, chemical resistance, anti-slip, and anti-fouling to application products. The automotive industry, packaging industry, electrical & electronics industry are some end-use industries, which are expected to enhance market demand over the forecast period where the growing automotive industry is expected to account for major market share in the coming years. Huge demand from developing countries including Brazil, India, and Korea are expected to drive the global market growth in the coming years.
Polishing powders offer high durability, high performance, and smoothness to the texture and surface to application product. Polishing powders also offer various helpful properties including anti-corrosion, chemical resistance, UV protection, and anti-abrasion. The military and defense sector is expected to contribute towards significant polishing powder market growth and predicted to uplift the global market in the coming years as polishing powder coupled with special paints and coating are used in military devices to resist strong impact. The military and defense sector is expected to be followed by the construction and building industry in terms of market growth. Volatile raw materials price is expected to establish as a major constraint for global polishing market growth in the coming years. The global polishing powders market is segmented on the basis of application. The application segment includes electrical & electronics, metallurgy, household furniture, marine, endodontics, automotive, military & defense, medical & healthcare, oil & gas, packaging, and industrial application. The industrial application further is categorized into heat exchangers, plant equipment, and boilers which operate at high temperature. In the medical & healthcare sector, polishing powders provide anti-microbial properties and protection to medical devices.
Asia Pacific was dominating the global polishing powder market. Growth and development in various end-use industries including buildings & construction, automotive industry, and marble polishing industry coupled with urbanization are expected to contribute towards the Asia Pacific market growth. China was the largest polishing powder consumer. Countries including Korea, Japan, and India are expected to be the fastest-growing market in the coming years owing to huge demand from end-user industries. North America followed by Europe is expected to grow at a moderate rate over the forecast period. Global polishing powder market is highly fragmented in nature on account of which huge competition among various polishing powder companies can be predicted in the coming years. Key players in the market include Hunan Haozhi New Materials Co., Ltd., TFC, and Dupont. Other players involved in the market includes Jiaxin, Yixing Xinwei Leeshing, AMG, Universal Photonics, Reade, Gansu Rare Earth Group, Tianjiao Seimi, Grish, Rongruida, METALL, New Century, Xin Yuan, Golden Century, RCMPA, Tongyuan, Mitsui Chemicals, Showa Chemical, Baotou Steel Hefa, Huaming Gona, and Rhodia. Industry participants are expected to adopt various strategies in order to upsurge their market share by joining hands with small companies and collaborations, enhancing their production line, adopting new technology, and conducting business expansion. Companies are also expected to focus on Asia Pacific region for their business growth as developing countries including China and India are expected to establish as major polishing powder targets to enlarge the market revenue share.
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The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.