Dublin, Jan. 27, 2023 /PRNewswire/ — 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.
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 on 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/b1cpug
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SOURCE Research and Markets
