Global Polishing Powders Market: Overview
Polishing powders are a crucial requirement in the finishing of a wide range of products. They are vital in smoothing the etch marks and wear patterns caused by the manufacturing process and providing an aesthetic, smooth finish to the manufactured product. Apart from enhancing the aesthetic properties of the manufactured product, polishing powders can also be designed to impart other benefits such as durability and resistance to physical as well as microbial contaminants. Most polishing powders are chemically inert, but some application-specific products may contain chemically active substances.
Due to the constant need for polishing operations in the finishing stages of manufacturing in various industries, the global polishing powders market is likely to grow smoothly in the coming years. The almost universal need for polishing powders has also created a plethora of end use industries for the polishing powders market, which is likely to remain a key driver for the global polishing powders market in the coming years.
Global Polishing Powders Market: Drivers and Restraints
The prime driver for the global polishing powders market is the large number of its end use segments and the steady growth of several end users. The construction industry has become a key consumer in the global polishing powders market in recent years due to the rising demand for premium flooring options such as marble. The rising disposable income of consumers following the 2008-09 economic crisis has resulted in a steady rise in the demand for residential housing, while rising commercial construction has also played a key role in the growing demand from the global polishing powders market.
The rising demand from the booming automotive industry is also a major driver for the global polishing powders market. The finishing of the exterior as well as interior surfaces of cars has always been a key part of automotive design due to the significant aesthetic appeal it holds. The rising demand for premium cars has led to steady demand from the polishing powders market in recent years. The presence of established car brands in North America and Europe has driven the demand from the polishing powders market in these regions, while the strengthening automotive industry in emerging regions, especially Asia Pacific, holds strong promise for the polishing powders market in coming years. The rising use of polishing powders to strengthen automotive glasswork is also a key driver for the global polishing powders market.
The consumer electronics and medical devices industries are also likely to play an important role in the development of the global polishing powders market in the coming years. Along with the use of technologically sophisticated glasswork to ensure durability of screens, polishing powders have also become important for the consumer electronics industry. The rising demand for handheld electronics such as smartphones and tablets is a key driver for the global polishing powders market. The rising incorporation of antimicrobial ingredients in medical device coatings is another major demand avenue for the global polishing powders market.
Global Polishing Powders Market: Geographical and Competitive Dynamics
The booming construction industry in Asia Pacific is likely to ensure clear dominance of the region in the global polishing powders market in the coming years. The rising use of premium flooring options in rapidly developing urban centers in countries such as India, China, Japan, South Korea, Thailand, and Australia is vital for the global polishing powders market. The rapidly expanding automotive industry in China is also likely to benefit the Asia Pacific polishing powders market significantly in the coming years.
Some of the key players in the polishing powders market are Dupont, Hunan Haozhi New Materials Co., Ltd., and TFC, among others.