by Polishing cloths are one of the essential tools used for cleaning and polishing various surfaces. They are primarily used for buffing and polishing vehicles to remove swirl marks, scratches and dirt. Polishing cloths made of microfiber are highly effective in cleaning automobile bodies and leave an excellent shine. The global automotive industry has witnessed significant growth over the past few years owing to rising vehicle production and sales worldwide. This has augmented the demand for polishing cloths from auto repair and detailing shops.
The global Polishing Cloth Market is estimated to be valued at US$ 1.4 billion in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The augmenting demand from the automotive industry is one of the major factors driving the growth of the polishing cloth market. The automotive refinishing process involves polishing the vehicle body to remove dirt, swirls and scratches. This has led to increased consumption of polishing cloths made of microfiber and other materials which provides superior cleaning and shine. With rising vehicle sales and greater focus of auto manufacturers on appearance and aesthetics, the demand for polishing cloths from auto repair shops and car care service centers is expected to increase substantially over the forecast period.
SWOT Analysis
Strength: Polishing cloths can polish various surfaces without causing any damage. They help remove dirt, stains and other debris effectively in a gentle manner.
Weakness: Some polishing cloths may lint or leave fibers behind on the polished surface. Improper use can also cause scratches on delicate surfaces.
Opportunity: Growing construction and automotive industries are driving the demand for polishing cloths to maintain the appearance of new buildings and vehicles. Increasing DIY trend among individuals is also creating new opportunities.
Threats: Availability of alternative polishing solutions like polishing compounds and creams can hamper the demand for polishing cloths. Economic slowdowns may negatively impact the growth of end-use industries.
Key Takeaways
The global polishing cloth market is expected to witness high growth.
Asia Pacific currently dominates the market owing to rapid growth of manufacturing sectors in China, India and other developing Asian countries. Infrastructural development and rising disposable incomes are stimulating the sales of polishing cloths in the region.
The key players operating in the polishing cloth market are 3M, Armaly Brands, Elite Pro Solutions,BUFFER ZONE,Whiteley, Simoniz, LENSX, etc.. 3M is a prominent player with a wide product portfolio including polishing cloths for automotive, household and industrial applications. The company has a strong distribution network across major markets.
