Sport utility vehicles, luxury cars be major consumers

Sport utility vehicles, luxury cars to be major consumers

9:57 AM, 11th June 2018
Sport utility vehicles, luxury cars to be major consumers
Wheel and tyre cleaner removes road tar, brake dust, grime and grease from wheel and tyres side walls and gives bright shine. (File photo)

Automotive appearance chemicals are crucial in vehicle maintenance. Automotive appearance chemicals are high-performance chemicals used to improve shine, gloss and durability of vehicles. These chemicals also protect and retain the visual appeal of vehicles. There are different types of automotive appearance chemicals available in the market which includes wheel care, tyre shine, interior-exterior care, glass cleaner, paint cleaning and protection, paint restoration and many more. Car wash soap removes dirt and soot without detaching the vehicle’s wax protection.

Wheel and tyre cleaner removes road tar, brake dust, grime and grease from wheel and tyres side walls and gives bright shine. However, wax type of appearance chemicals contains silicone, lubricants and mild abrasives, and is designed to remove minor paint discolouration. Silicone-based automotive appearance chemicals are forecast to gain popularity due to numerous performance benefits. Silicone-based materials are widely used as appearance chemical to enhance the car appearance feature and properties such as shine, colour restoration, durability and water repellence.

Automotive appearance and detailing care has always been as important to vehicle owners as repairs and replacement of worn out mechanical parts and components. Therefore, the global automotive appearance chemicals market is anticipated to increase at a significant rate in terms of value over the forecast period.

Drivers & Restrains

Sport utility vehicles and luxury cars are the major consumers of appearance chemicals. Therefore, the market of automotive appearance chemical is mainly driven by increasing demand of sport utility vehicles and rise in luxury cars sales in emerging economies such as BRIC countries. Increasing demand for used cars is another major factor contributing to the growth of the global automotive appearance chemicals market. Longer automobile retention and higher vehicle life expectancy is anticipated to fuel the growth of automotive appearance chemical market over the forecast period. Manufacturers of automotive appearance chemicals are being encouraged to develop and innovate products with ‘green’ credentials, whilst maintaining the level of efficacy offered by non-biodegradable products.

Market Segmentation

Based on product type, the global automotive appearance chemicals market is segmented into the following:

  • Waxes
  • Polishes
  • Protectants
  • Wheel and Tyre Cleaners
  • Windshield Washer Fluids

The automotive appearance chemicals market can be segmented based on vehicle type as

  • Light commercial vehicles
  • Heavy commercial vehicles

Region-Wise Outlook

On the basis of geographic regions, the automotive appearance chemicals market is segmented into seven key market segments namely Asia Pacific Excluding Japan (APEJ), North America, Latin America, Western Europe, Eastern Europe, Japan, and Middle East & Africa. Europe is largest market with France, Germany, UK and Italy being major consumers for automotive appearance chemical. Asia pacific is expected to be the fastest growing region in terms of value over the forecast period.

Growth in this region is primarily driven by increasing demand for huge commercial vehicle fleet, rapidly expanding number of car ownerships, rising demand for new and used vehicles, and strong focus on timely vehicle maintenance. Automotive appearance chemicals have operated sales in the overall automotive chemicals market in the US, with waxes, polishes and protectants being preferred products among consumers.

Source: Future Market Insights

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