Market Overview:
Automotive Appearance Chemicals are the high performance chemicals that help in improving the gloss and durability of vehicles and also protect, maintain, and enhance the visual attractiveness of vehicles. Polishes, internal and external cleaners, waxes & sealants, protectors, and wheel care are the widely used automotive appearance chemicals. Rising production of the passenger cars globally coupled with the increasing demand for Appearance Chemicals in these cars is expected to be the key factor driving market growth.
Competitive Analysis:
The leading players in the Global Automotive Appearance Chemicals Market are 3M (US), The Dow Chemical Company (US), Meguiar’s (US), Terra Silikon Teknolojileri ve Kimya (Turkey), Permatex (US), Malco Products Inc (US), Nuvite Chemical Compounds (US), General Chemical Corp (US), and Blue Ribbon Inc (US).
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Market Segmentation:
The Global Automotive Appearance Chemicals Market has been categorized on the basis of Product Type, Vehicle Type and Region.
By Product Type, the Global Automotive Appearance Chemicals Market has been segmented as protectors, polishes and waxes, sealants, glass and wheel care, anti-misting agents, degreaser, and others. Among these product types, polishes and waxes segment accounted for the largest share in 2017. The primary factor responsible for this high market share is the ability of the polishes to enhance and protect the painted surface of an automobile. Increasing use of silicones for improving the auto polish properties including ease of application, gloss, color intensity, durability and detergent resistance, and water repellency.
Based on Vehicle Type, the Global Automotive Appearance Chemicals Market is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held majority of the market share in 2017 owing to the increasing demand for the product in the luxury and sports cars. Furthermore, rising concerns of consumer over vehicle quality and increasing usage of the product in maintenance of used cars is driving market growth.
Regional Analysis:
The Global Automotive Appearance Chemicals Market has been spanned across five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific is estimated to register the highest CAGR owing to the significant growth of the automotive industry in this region. China, South Korea, India, and Thailand are the major economies contributing to the growth of this regional market.
The European market held the largest share of this market in 2017 and is estimated to witness moderate growth in the coming years owing to the mature automotive market in this region. The market in North America is projected to witness a healthy growth during the forecast period.
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