Automotive Appearance Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by product type (waxes, polishes, protectants, wheel & tire cleaners, windshield washer fluids, leather care products, and others), application (passenger cars, light commercial vehicles, heavy commercial vehicles, and others), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Automotive Appearance Chemicals Market-Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 3 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global market for automotive appearance chemicals is expected to register a CAGR of about 3% during the forecast period. Major factors driving the market studied are increase in the production of electric vehicles and rising consumer awareness toward vehicle maintenance. Furthermore, slow down in the global automotive production and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • Automotive appearance chemicals help in improving the gloss and durability of vehicles, enhancing the life of the vehicle.
  • The Asia-Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption in countries, such as China, India, and Japan.

Scope of the Report

The Automotive Appearance Market report include:

Product Type
Waxes
Polishes
Protectants
Wheel and Tire Cleaners
Windshield Washer Fluids
Leather Care Products
Others
Application
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increase in the Production of Electric Vehicles

  • The global electric vehicle (EV) market is expected to register a CAGR of over 20% over the forecast period.
  • The EV market witnessed significant growth due to environmental awareness and the need for addressing future energy requirements. The need to attain sustainable transportation plays a significant role in driving the demand for EV.
  • Global EV sales totaled at about 1.1 million during the first half of 2019, an increase of 46%, as compared to the total sold in the first half of 2018. During the first half of 2019, EV sales increased by 22% in the United States, 66% in China, and 35% in Europe, as compared to the first half of 2018. Global EV sales totaled at about 2.1 million in 2018, an increase of 64%, as compared to the total sold in 2017.
  • The governments of various countries have adopted favourable policies towards the adoption of electric vehicles and expanding the manufacturing infrastructure pertaining to electric vehicles. Rising energy cost and competition among emerging energy efficiency technologies is also expected to fuel market growth.
  • In recent years, automotive manufacturers announced many plans and timelines for bringing more EVs to the market. Toyota announced plans to generate half of its sales from electrified vehicles by 2025. The company will also partner with Chinese battery manufacturers. Volkswagen said it will spend more than USD 30 billion developing EVs by 2023. The manufacturer also aims for EVs to make up 40% of its global fleet by 2030.
  • As of now, much attention is being given to passenger vehicles for electrification, but this trend is expected to change soon and spread to other class of vehicles also.
Automotive Appearance Chemicals Market Revenue Share

The Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to account for the largest market for automotive appearance chemicals, during the forecast period.
  • Vehicle sales in the region declined during 2019, and they are expected to continue to decline in 2020. However, China will maintain its position as the world’s largest automotive market, along with Japan and India among the top 10 countries.
  • While market saturation, rising fuel prices, trade tensions with the USA, and the COVID-19 impact will continue to impact development, the consensus remains that the rising middle-class populations and increased disposable incomes of China, India and Southeast Asia (SEA) are going to continue driving auto industry growth for years to come.
  • The Chinese electric vehicle (EV) market segment witnessed a huge growth in 2019, with the market share increasing from 4.5% to 4.7%.
  • According to Autocarpro, the total electric vehicle sales in India in FY 2019 have been more than 480,000 units. This includes electric 2-wheelers, electric 3-wheelers, and electric passenger vehicles. This growth is majorly a result of the government's announcement in April 2019, about the FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme.
Automotive Appearance Chemicals Market Regional Trends

Competitive Landscape

The global automotive appearance market is fragmented. The major companies of the market studied include 3M, LIQUI MOLY GmbH, ITW Global Brands, Valvoline Inc., and Tetrosyl Ltd, among others.

Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. Research Methodology

  3. 3. Executive Summary

  4. 4. Market Dynamics

    1. 4.1 Drivers

      1. 4.1.1 Increase in the Production of Electric Vehicles (EV)

      2. 4.1.2 Increase in Consumer Awareness Toward Vehicle Maintenance

    2. 4.2 Restraints

      1. 4.2.1 Unfavorable Conditions Arising due to the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Waxes

      2. 5.1.2 Polishes

      3. 5.1.3 Protectants

      4. 5.1.4 Wheel and Tire Cleaners

      5. 5.1.5 Windshield Washer Fluids

      6. 5.1.6 Leather Care Products

      7. 5.1.7 Others

    2. 5.2 Application

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Light Commercial Vehicles

      3. 5.2.3 Heavy Commercial Vehicles

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 SONAX GmbH

      3. 6.4.3 Dow

      4. 6.4.4 General Chemical Corp.

      5. 6.4.5 ITW Global Brands

      6. 6.4.6 Guangzhou Biaobang Car Care Industry Co. Ltd

      7. 6.4.7 LIQUI MOLY GmbH

      8. 6.4.8 Niteo Products Inc.

      9. 6.4.9 Nuvite Chemical Compounds

      10. 6.4.10 Tetrosyl Ltd

      11. 6.4.11 Turtle Wax Company

      12. 6.4.12 Valvoline LLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Adoption of Professional Auto Care Services

    2. 7.2 Other Opportunities

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Automotive Appearance Chemicals Market market is studied from 2016 - 2026.

The Automotive Appearance Chemicals Market is growing at a CAGR of 3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

3M, LIQUI MOLY GmbH, ITW Global Brands, Tetrosyl Ltd., Valvoline Inc. are the major companies operating in Automotive Appearance Chemicals Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!