Polishing Powder Market size accounted USD 163.5 million in 2020 and it is anticipated to reach USD 336.9 million by the end of 2030, with a CAGR of 7.5% during forecast period. Polishing powder are vital in smoothing the scratched marks and wear patterns caused by the manufacturing process and providing an aesthetic, smooth finish to the manufactured product. Besides from enhancing the aesthetic properties of the manufactured product, polishing powders also can be designed to supply other benefits like durability and resistance to physical also, as well as microbial contaminants. The polishing powder market demand is anticipated to increase due to the usage in  the industries such as packaging, automotive and electrical and electronic industry over the forecast period. Automotive industry is projected to account for major market share in the coming years.

Market Segmentation:

On the basis of type the market is distributed into low Ce, medium Ce, high Ce. On the basis of applications, the polishing powder market is classified into electrical & electronics, automotive, construction, industrial, military, medical & healthcare, and others. Geographic breakdown and analysis of each of the aforesaid segments are regions including North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The construction industry has become an important consumer in the global polishing powder market, due to the increasing demand for premium flooring options such as marble. The increasing disposable income of consumers has caused in a steady rise in the demand for residential housing, while growing commercial construction has also played a significant role in the rising demand for the global polishing powder market. Magik Polishing Powder can be used for regular maintenance of various marble in construction and can make the marble surface bright and shining and can enable the marble surface harder and more wearable and also for polishing process(and there will be no damage to the stone after use. The finishing of the interior as well as exterior surfaces of cars has always been an important part of automotive design due to the significant aesthetic appeal it holds. The existence of established car brands in Europe and North America has motivated the demand from the polishing powders market in these regions. However, on the flip side, unstable raw material price of polishing powder and adverse conditions arising due to the COVID-19 outbreak are hampering the growth of the polishing powder market. Increasing demand of polishing powder for medical and healthcare industry is anticipated to offer various opportunities for the growth of the polishing powder market over the forecast period.

Geographic Analysis:

Asia Pacific region is dominating the polishing powder market due to the increasing demand of the product from the boosting construction industry in the coming years. The growing use of premium flooring options in swiftly developing urban centres in countries such as China, Japan, South Korea, Thailand, India and Australia is vital for the global polishing powder market. The rapidly escalating automotive industry in China is also likely to profit the Asia Pacific polishing powder market significantly in the coming years. The major producers of polishing powder are located in this region.  China’s construction industry is projected to grow 4.5% through 2021, with large-scale growth in infrastructure projects by the government. Japan’s residential and infrastructure construction account for 28 to 33 % of construction activities. With China’s health care industry expected to be worth USD 2.4 trillion by 2030. India is likely to grow at twice the rate of China over the next upcoming years, particularly in the infrastructure sector where the government is anticipated to invest USD 376.5 billion over the next three years. Due to the above-mentioned factors, the market for polishing powder in the Asia-Pacific region is expected to grow significantly during the forecast period. North America followed by Europe is projected to grow at a reasonable rate over the forecast period.

Competitive Scenario:

The key players operating in the polishing powder market include Hunan Haozhi, New Materials Co. Ltd, Dupont, AMG, Universal Photonics, Reade, Tianjiao Seimi, Grish, RCMPA and Solvay.

Polishing Powder Market Report Scope