Automotive Aftermarket Appearance Chemicals Market Report 2022: Need for Product Differentiation Drives Innovations in Specialty Automotive Coating Chemicals

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Global Market for Automotive Aftermarket Appearance Chemicals

Global Market for Automotive Aftermarket Appearance Chemicals

Dublin, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The "Automotive Aftermarket Appearance Chemicals - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Automotive Aftermarket Appearance Chemicals Market to Reach $5.2 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Automotive Aftermarket Appearance Chemicals estimated at US$4.4 Billion in the year 2022, is projected to reach a revised size of US$5.2 Billion by 2030, growing at a CAGR of 2.2% over the analysis period 2022-2030. Windshield Washer Fluids, one of the segments analyzed in the report, is projected to record a 1.6% CAGR and reach US$1.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Waxes / Polishes segment is readjusted to a revised 2.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 3.5% CAGR

The Automotive Aftermarket Appearance Chemicals market in the U.S. is estimated at US$1.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$968.6 Million by the year 2030 trailing a CAGR of 3.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 1.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$649.1 Million by the year 2030.

Select Competitors (Total 72 Featured) -

• 3M Automotive Aftermarket Division

• 3M Company

• Blue Ribbon Products Inc.

• Illinois Tool Works Inc.

• Meguiar`s Inc.

• Niteo Products LLC

• Northern Labs Inc.

• Permatex Inc.

• Protect All Inc.

• Turtle Wax Inc.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.

Report Attribute	Details
No. of Pages	288
Forecast Period	2022 - 2030
Estimated Market Value (USD) in 2022	$4.4 Billion
Forecasted Market Value (USD) by 2030	$5.2 Billion
Compound Annual Growth Rate	2.1%
Regions Covered	Global

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights

• World Market Trajectories

• Automotive Appearance Chemicals Market - A Prelude

• Recent Market Activity

• New Vehicles have Higher Per Capita Usage

• Economic Factors Play an Important Role in the Market

• Global GDP Growth Plateauing - A Mixed Bag of Opportunities

• Market Outlook

• Global Market Analysis

• Automotive Aftermarket Appearance Chemicals - Global Key Competitors Percentage Market Share in 2022 (E)

• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

• 3M Company (USA)

• 3M Automotive Aftermarket Division (USA)

• Bondo Corporation (USA)

• Meguiar's, Inc. (USA)

• Armored AutoGroup Inc. (USA)

• Blue Ribbon Products, Inc. (USA)

• ITW Global Brands (USA)

• Permatex, Inc. (USA)

• Niteo Products, LLC (USA)

• Northern Labs, Inc. (USA)

• Protect All, Inc. (USA)

• Turtle Wax, Inc. (USA)

3. MARKET TRENDS & DRIVERS

• Large Global Base of Vehicle Fleet & Projected Rise in New Auto Sales Offers Potential for Growth

• Increasing Vehicular Population Provides Immense Opportunities

• Demand for Aftermarket Automotive Appearance Chemicals Grows Rapidly as Vehicle Owners Retain their Vehicles Longer

• Technology Improvements Increase Vehicle Life

• Increased Life Brings Maintenance into Focus

• Increasing Affinity for Road Trips Spurs Market for Appearance Chemicals

• Need for Product Differentiation Drives Innovations in Specialty Automotive Coating Chemicals

• Growing Awareness of Importance of Vehicle Maintenance - A Major Growth Factor

• Making Most of Opportunities in the DIY Segment

• Growing Demand for DIFM Services Turn 'Service Providers' into Target Customers for Aftermarket Appearance Chemicals

• Pre-Owned Cars & Auto Leasing Drives Growth

• Luxury Car Owners - A Premier Market Segment

• China and India Zooming Ahead in Luxury Car Sales

• Car Grooming Centers Play a Vital Role in the Market

• Growing Investments on Vintage & Classic Cars Augurs Well for the Market

• Environmental Friendly Products Top Priority Charts of Manufacturers

• Solvent Based Coatings Make Way for Water Based Formulations

• Volatile Silicones Emerge as an Alternative to Hydrocarbon Based Solvents

• Easy-to-Use Products Gain Popularity

• Introduction of Silicone Waxes in Automotive Polishes Gains Prominence

• Plasti Dipping Trend Gains Traction for Protecting Vehicular Appearance

• Advancing Material Technology - Boon or Bane?

• Internet Retailing - A Major Growth Avenue

• Soaring Costs of Raw Materials for Automotive Refinish Coatings - A Key Challenge

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/tlaxab

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Attachment

• Global Market for Automotive Aftermarket Appearance Chemicals

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