Polishing Powders Market to Witness Steady Growth During the Forecast Period 2021-2031

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Polishing Powders Market Introduction

·         Polishing powders play an important role 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 esthetic, smooth finish to manufactured products. 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.

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Key Drivers of Polishing Powders Market

·         The global polishing powders market is likely to expand significantly in the next few years due to the constant need for polishing operations in the finishing stages of manufacturing in various industries. The almost universal need for polishing powders has also created a plethora of end-use industries for the polishing powders market. This is also expected to be a key driver of the global polishing powders market.

·         Large number of end-use segments and steady growth of several end-users are also driving the global polishing powders market. The construction industry has become a key consumer of polishing powders due to the rising demand for premium flooring options such as marble. Increase in disposable income of consumers following the 2008-09 economic crisis has resulted in a steady rise in demand for residential housing, while growth in commercial construction has also played a key role in driving the demand for polishing powders.

·         Expansion of the automotive industry is also a major driver of the global polishing powders market. The finishing of exterior as well as interior surfaces of cars is a key part of automotive design due to the significant esthetic appeal it holds. Rise in demand for premium cars has led to a steady demand for polishing powders. The presence of established car brands in North America and Europe has driven the demand for polishing powders in these regions, while the strengthening automotive industry in emerging regions, especially Asia Pacific, holds strong promise for the polishing powders market in the near future.

·         The military & defense sector is expected to contribute significantly to the polishing powder market in the next few years, as polishing powder and special paints and coatings are used in military devices to resist strong impact

·         Growth of consumer electronics & medical devices industries is also likely to play an important role in the development of the global polishing powders market in the next few 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. Rise in demand for handheld electronics such as smartphones and tablets is a key driver of the global polishing powders market. Increase in incorporation of antimicrobial ingredients in medical device coatings is another major factor propelling the global polishing powders market.

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Restraints of Polishing Powders Market

·         Despite the potential economic advantages associated with polishing powders, there are several drawbacks that are projected to restrain the global market. Volatility in raw material prices is expected to be a major constraint of the global polishing market.

COVID-19 impact on Polishing Powders Market

·         The COVID-19 outbreak is hampering the demand for polishing powders in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in in demand for polishing powders across the globe.

·         Key players operating in the polishing powders market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of polishing powders.

Asia Pacific to Hold Major Share of Polishing Powders Market

·         The booming construction industry in Asia Pacific is likely to ensure clear dominance of the region in the global polishing powders market in the near future. Rise in usage 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. Rapid expansion of the automotive industry in China is also likely to benefit the polishing powders market in Asia Pacific the next few years.

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