Albany, NY -- (SBWIRE) -- 10/25/2018 -- Vehicle maintenance plays an important role in extending the life of any vehicle. Automotive aftermarket appearance chemicals comprise chemicals such as tire shine, wheel care, glass cleaner, interior-exterior care, paint cleaning, protection, and restoration. Automotive aftermarket appearance chemicals protect and maintain the visual attractiveness of vehicles.
Based on product type, the global automotive aftermarket appearance chemicals market can be segmented into waxes, polishes, protectants, cleaners, and others. Waxing and polishing a vehicle regularly helps extend the life and beauty of paint finish of the vehicle. It provides a layer on top of the vehicle's paint, which is protected during the cleaning and washing process. Cleaning products in the form of aerosols and/or liquids are available for vehicles' wheels, carpet and upholstery, window glass, etc.
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Wax protection of vehicle is maintained and the dirt and soot is removed with the help of car wash soaps. Chemicals that are wax-based are designed to remove minor paint discoloration. They contain mild abrasives, silicone, and lubricants in their composition. Silicone-based chemicals offer various performance benefits such as enhancing shine to the vehicle, color restoration, and water repellence. As a result, demand for silicone-based automotive aftermarket appearance chemicals is expected to increase during the forecast period.
The global market for automotive aftermarket appearance chemicals is projected to expand significantly during the forecast period due to the rise in awareness about the importance of these chemicals among car owners.
Based on vehicle type, the market can be bifurcated into passenger vehicles and commercial vehicles. Sport utility vehicles and luxury cars are the key consumers of automotive aftermarket appearance chemicals. Rise in demand for automotive aftermarket appearance chemicals by these vehicles and increase in sales of luxury cars in emerging economies are key factors driver the market. Maintenance of used cars includes application of automotive aftermarket appearance chemicals. This is another factor boosting the demand for automotive aftermarket appearance chemicals. Manufacturers are inclined toward innovation and development of eco-friendly products that possess efficiency levels similar to that of non-biodegradable products. Longer automobile retention and higher vehicle life expectancy are anticipated to propel the automotive aftermarket appearance chemicals market during the forecast period.
In terms of geography, the automotive aftermarket appearance chemicals market can be segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe holds significant share of the global automotive aftermarket appearance chemicals market; Germany, France, the U.K., and Italy are the major consumers of automotive aftermarket appearance chemicals. In terms of value, the market in Asia Pacific is expected to exhibit higher growth potential during the forecast period. Growth in the region is primarily driven by the increase in demand for commercial vehicle fleet, rapid expansion in number of car ownerships, rise in demand for new and used vehicles, and strong focus on timely vehicle maintenance. In the U.S., preferred products among automotive aftermarket appearance chemicals include waxes, polishes, and protectants.
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Key players operating in the automotive aftermarket appearance market include 3M, Blue Ribbon, Permatex Inc., Malco Products Inc., Valvoline, Armored AutoGroup Inc., Niteo Products, and Meguiar's Inc.
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