Floor wax is a substance that is used to provide sheen and protection with nourishment to the surfaces it is used on. It protects the surface from the damage occurring due to daily wear and tear such as regularly used floors and surfaces like those in public spaces such as malls. They are also suitable to be used on cork floors though it is traditionally used on ceramic or wooden flooring. It is recommended to conduct a patch test of the product on a smaller portion of the surface to be waxed to know the actual colour output and the end result. High traffic surfaces may require frequent re-application of the wax, the lower traffic ones may be rebuffed from time to time in order to restore the appearance. Floor wax has functional and protective benefits besides enhancing the aesthetic appeal of the waxed surface.
Floor Wax Market Outlook
- The consumption of floor wax has been witnessing a surge in the recent years. Growth in the commercial spaces in the emerging regions spells good fortune for the floor wax market as it represents a massive untapped potential. Commercial areas are a major user of floor wax products thereby presenting a major revenue stream for floor wax makers.
- The spray wax product provides a convenient solution for rebuffing the floors instead of a full-scale re-wax session. The convenience factor is a major driving force across products and is expected to have an effect on the floor wax market as well.
- Research and development into making the floor wax products safer to use for the workers would result in greater adoption and hence drive consumption and consequent growth in the market.
Floor Wax Market Regional Highlights
- Asia Pacific would lead the global growth in the consumption of floor wax. This growth would come about on the back of an economic expansion driven by a widespread recovery in the general macro scenario across key parameters like industrial production and consumer spending. This would lead to the region witnessing the fastest growth over the forecast period from 2020 to 2026 among its global peers with regard to the value of floor wax consumed.
- North America and Europe dominate the market currently in 2019 owing to the favorable economic and demographic conditions leading to a higher level of consumer awareness and a consequently higher consumption of floor wax.
Floor Wax Market Segmental Overview
- Solid wax may be harder to apply owing to the longer application time required. On the other hand, the liquid floor wax protects the surface by sealing the wax. The liquid variant also requires only a thin layer to be applied and is hence a more convenient alternative.
- The spray product of floor wax is a convenient solution where reapplication is required. The water based floor wax is suitable for a range of flooring types and can be used to impart a clean effect as well as a polished look to the surface, while protecting it from stains and foot marks.
- Floor wax is widely used to protect hard wood flooring surfaces. Water based wax is recommended to be used on marble flooring to provide the optimum benefit.
Floor Wax Market Key Players
The major companies operating in the floor wax market include 3M, Alix Cleaners, Comark International, Dura Seal, Guangzhou Botny Chemical Co., Ltd, Howard Products, Minwax Company, Oakwood Lodge Pty Ltd, S. C. JOHNSON & SON, INC, Safeguard Chemical Corporation, Sherwin-Williams Diversified Brands Ltd, and Weiman Products, LLC. among others.
Product enhancement and adopting sustainable manufacturing practices is a leading strategy being adopted by the key players given the given the shifting dynamics in the global industrial scenario with an increasing focus on environment friendliness. With regard to the products for industrial applications, the manufacturer behaviour would be more research-oriented with an aim to broaden the existing scope and applicability of floor wax.