Now Available: Polishes in Ecuador

In March 2015, the External Commerce Committee (COMEX) issued Resolution No 011-2015, which consists of temporary tariff surcharges for a period of 15 months until June 2016, to different imported products, such as imported polishes, creams and similar preparations whose item is 3405100000 recording a surcharge of 45%. This import tax will raise the final price of imported products, causing a significant decline in the number of imports, leading to a loss of approximately US$800 million.

Competitive Landscape

Virumec SA led sales with a 29% value share in 2015 thanks to its Cherry brand in shoe polish. Its brands in shoe polish are Cherry and Griffin; in metal polish it sells Silvo and Brasso, while its main brand in furniture polish is Mansion. All these brands ultimately belong to the multinational Reckitt Benckiser Group Plc (RB). The national company Dimabru Cia Ltda had an 8% value share in 2015, thanks to its Estrella brand, and ranked second.

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Industry Prospects

It is anticipated that over 2015-2020 shoe polish sales will decline at a greater rate than that of the review period, mainly due to the impact of tariff surcharges on imported products. At the same time, floor polish is estimated to be negatively impacted, because today the use of floating floors precludes the greater use of polishes or sophisticated waxes for cleaning, given that many floating floors come with brightness incorporated.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Polishes industry in Ecuador with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Polishes industry in Ecuador, our research will save you time and money while empowering you to make informed, profitable decisions.

The Polishes in Ecuador market research report includes:

* Analysis of key supply-side and demand trends
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Polishes in Ecuador?
* What are the major brands in Ecuador?
* What are the future prospects for the polishes market?
* What are the key new product launches in the polishes market?

Reasons to Get this Report

* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats

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