Pre-Owned Cars & Auto Leasing Drives Growth

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{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} over the analysis period 2022-2030. Windshield Washer Fluids, one of the segments analyzed in the report, is projected to record a 1.6{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} 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{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} 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{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} 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{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} and 1.9{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.5{12dec99aef6f119e349308ab81c83b123ba77cd3d9c980ff09eaac1f958a2724} 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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