IMARC Group has recently released a new research study titled “Automotive Appearance Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the automotive appearance chemicals market?
The global automotive appearance chemicals market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Industry Overview:
Automotive appearance chemicals refer to a wide range of chemical products used in the automotive industry to enhance and maintain the visual appeal of vehicles. These chemicals are specifically designed to improve the appearance, cleanliness, and protection of various surfaces, such as paint, glass, plastic, rubber, and metal, both inside and outside of vehicles.
Automotive appearance chemicals are used for cleaning, polishing, waxing, degreasing, protecting against UV rays, removing stains, restoring shine, and preventing rust and corrosion. These chemicals are formulated to be safe for automotive surfaces and are often available in different forms, including sprays, creams, gels, and wipes. The features of automotive appearance chemicals may include ease of application, long-lasting effects, resistance to environmental factors, water repellence, and the ability to provide a glossy or matte finish.
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What are the growth prospects and trends in the industry?
The rising number of vehicle owners worldwide is fueling the demand for automotive appearance chemicals as people seek to maintain the aesthetics and value of their vehicles. This represents one of the key factors driving the market growth. Moreover, the rising trend of vehicle customization, along with the increasing consumer inclination toward automotive appearance chemicals to personalize and enhance the look of their vehicles is acting as a major growth inducing factor. The expanding car wash and detailing sector, which extensively uses automotive appearance chemicals, is contributing to market growth.
Car manufacturers are paying more attention to vehicle aesthetics, incorporating advanced coatings and finishes, which is facilitating the demand for complementary automotive appearance chemicals to maintain and enhance the visual appeal of these vehicles, thereby fueling the market growth. Automotive appearance chemicals that offer ease of use and quick application are in high demand, as consumers seek convenient solutions for vehicle maintenance. In addition to this, expansion of the automotive industry, particularly in emerging economies, is boosting the demand for automotive appearance chemicals, thereby driving the market growth.
The market is also being driven by increasing vehicle production and sales. Technological advancements have led to the development of more advanced and effective automotive appearance chemicals, which is driving the market growth. Stricter regulations regarding environmental protection have led to the development of eco-friendly automotive appearance chemicals, which are gaining popularity among environmentally conscious consumers. Consumers are increasingly focused on maintaining the resale value of their vehicles, which is driving the demand for appearance chemicals that help preserve the condition and appearance of the vehicle. This is propelling the growth of the market. The popularity of DIY car care and detailing products is rising, leading to increased demand for automotive appearance chemicals in the retail sector, which, in turn, is contributing to the market growth.
Other factors, such as rising disposable income, growing automotive aftermarket industry, rapid urbanization, and lifestyle changes, are creating a positive outlook for the market across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
- 3M Company Inc.
- BASF SE
- Blue Ribbon Products Inc.
- Dow Inc.
- Illinois Tool Works Inc.
- Mothers Polishes Wax Cleaners Inc.
- Niteo Products LLC
- Northern Labs Inc. (Knowlton Development Corporation Inc)
- Tetrosyl Limited (MWR Sales Limited)
- Turtle Wax Inc.
- Valvoline Inc.
Market Segmentation:
The report has segmented the global automotive appearance chemicals market on the basis of application, end use and region.
Breakup by Application:
- Waxes
- Polishes
- Protectants
- Wheel and Tire Cleaners
- Windshield Washer Fluids
- Others
Breakup by End Use:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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