Automotive Appearance Chemicals: For Better Vehicle Maintenance

Automotive appearance chemicals are vital part of vehicle maintenance routine, as daily driving can cause wear and tear to it. Such chemicals not only make vehicles look cleaner and newer but also help retain its value by enhancing the vehicle performance and extending its overall lifespan. Common types of automobile appearance chemicals are polishes, waxes, wheel cleaners, protectants, and windshield washer fluids; while major consumers are cars, Heavy Commercial Vehicles (HCVs), and Light Commercial Vehicles (LCVs).

LCVs to be the Fastest-growing Application Segment

Cars segment was the largest application segment in 2016 that accounted for 75 % of the overall revenue and is further predicted to have rapid expansion. The usage of cars in almost all types of automobiles, particularly vintage and luxury cars, is the key segment growth driver. In addition, surging demand for passenger and luxury cars from the young population base in developing regions like India, due to rise in disposable incomes, is also likely to fuel the segment growth in near future.

LCV segment was the second-largest application segment that accounted for 15 % of the global revenue share in 2016. This segment is further expected to expand at a maximum growth rate of 5.1 % during the forecast period (from 2017 to 2025). Rising demand for LCVs from the transportation and logistics sectors across various end-use industries is the major factor driving the segment development.

Companies working in automobile appearance chemicals field keep innovating newer products for business development. One such global leader in automotive appearance services for cars and trucks, Ziebart International Corp., recently launched their latest product called Ceramic Z-Gloss Paint Coating. It is a protective three-layered ceramic coating, which also has enhanced gloss characteristics that make vehicles look brand-new. The company claims that the coating won’t fade away and also won’t need automotive waxing (detailing) for up to seven years.

Market Overview

A new report published by Grand View Research, Inc. predicts that the worldwide automotive appearance chemicals market would grow at a CAGR of 3.5 % from 20174 to 2025 reaching USD 1.59 billion by 2025. High demand for vehicle appearance chemicals due to rapidly growing automotive sector across the globe is expected to be the key factor driving the market. In addition, increased disposable income and rising awareness levels among people regarding the benefits of using these chemicals for their vehicles are also likely to contribute toward the market development. Key players in the market are 3M Company, Inc.; The Clorox Company; Norton Abrasives; and Valvoline, Inc

In-Depth Research Report On Automotive Appearance Chemicals Market:

https://www.grandviewresearch.com/industry-analysis/automotive-appearance-chemicals-market