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 registered the highest demand for automotive appearance chemicals in the past and may continue witnessing steady growth in years to come. The usage of the product in almost all types of automobiles, particularly in vintage and luxury cars is the key factor driving the growth. 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 growth in near future.
Light commercial vehicle was the second-largest application segment in the past. This segment is further expected to expand owing to rising demand for LCVs from the transportation and logistics sectors. High demand from various end-use industries is the major factor driving the development.
Companies working in the field of automobile appearance chemicals 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.
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1 comment:
Very interesting blog. I appreciate you taking the time and making the effort to research this topic. Only the Automobile Maintenance Chemicals, as you stated, can make automobiles seem cleaner and newer. Thank you for all your helpful information. Keep posting.
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