Automotive Appearance Chemicals Market Expected to Reach US$ 40 Bn by 2019

Posted by ankush Nikam on February 25th, 2020

The global automotive appearance chemicals market will reach a valuation of US$ 40 Bn in 2029, witnessing a steady rate of growth during 2019 - 2029. According to a new study by Future Market Insights (FMI), the market is largely influenced by shifting consumer preferences and the stringent regulatory framework for automotive industry.

"Regulations against petroleum products used for making waxes and coatings have shifted customer focus towards eco-friendly alternatives. Companies are utilizing soy derived chemicals and palm kernel oil derivatives to innovate car care products," reveals the FMI report.

Key Research Findings of FMI's Automotive Appearance Chemicals Market Study

• Aftermarket sales would continue to lead the automotive appearance.
• Coatings will display a healthy growth rate during the forecast period, driven by decorative applications.
• High growth economies such as China and India contribute to steady growth of OEMs.
• Growing prominence of DIY activities would be a string booster to sales.
• Increased car sales and improving aftermarket scenario are assisting market growth in Europe and Asia Pacific.

Key Growth Drivers - Automotive Appearance Chemicals Market

• Rising consumer awareness about car care processes is the key market driver, particularly in aftermarket.
• Solid passenger car sales contribute to the demand from OEMs.
• Vintage and luxury car segments substantially contribute to demand for automotive appearance chemicals.
• Research on application of automotive appearance chemicals widens scope of use increasing demand.

Key Impediments - Automotive Appearance Chemicals Market

• Strict regulations associated to the handling and storage of toxic or hazardous materials is a key restraint for manufacturers.

Competition Structure Analysis - Automotive appearance chemicals Market

The competition landscape of the global automotive appearance chemicals market will largely remain influenced by rising research and development efforts for new cost effective and environmentally friendly product offerings. Producers are also pushing for capacity expansions and strategic collaborations in the industry for cost-effective processes, and higher profit margins.

Some of the key players in the automotive appearance chemicals market include, but are not limited to 3M Company, Koch-Chemie GmbH, BASF SE, Mothers Polishes Wax Cleaners Inc., DowDuPont Inc., Turtle Wax Inc., and Kao Corporation.

Explore Future Market Insights' detailed coverage on,

UV Tapes Market- This research report provides a comprehensive range of insights which identify revenue sectors, key strategies, and potential growth opportunities, associated with UV tapes.

Styrene Butadiene Rubber Market- This report includes a detailed analysis on competitive scenarios, and essential information on major players in the styrene butadiene rubber market.

Zinc Chloride Market- This write up encompasses detailed secondary research, which is used to estimate key industry players, overall size of the zinc chloride market, and relevant industry associations.

Gain access to Market Ngage, an AI-powered, real-time business intelligence platform that goes beyond the conventional research solutions to solve the complex strategy challenges that organizations face today.

About the Report

This report offers global, regional, and national level analysis on the latest trends in the industry influencing the automotive appearance chemicals market. The study provides actionable insights on the automotive appearance chemicals market on the basis of product type (polish, windshield washer fluids, soaps, coatings, and car wax), vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), sales channel (original equipment manufacturers and aftermarket) across 30 countries spanning six key regions (North America, Latin America, Europe, South Asia and Pacific, East Asia, and MEA).

Press-release Source - https://www.accesswire.com/577543/Sales-of-Automotive-Appearance-Chemicals-to-Surpass-US-40-Bn-by-2029-Environmentally-Sustainable-Variants-Trending-Future-Market-Insights

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Contact Us
Mr. Abhishek Budholiya
616 Corporate Way, Suite 2-9018
Valley Cottage, NY 10989
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44(0)20-7692-8790