A recent study by Future Market Insights (FMI) on the automotive appearance chemicals market offers a detailed 10-year forecast. The study analyzes crucial trends that are currently determining the growth of the market. This report also focuses on the analysis of various trends affecting growth. These include examination of drivers, restraints, and opportunities.
Future Market Insights (FMI), Dubai: Driven by rise in the ownership of luxury cars and demand for more sustainable and eco-friendly products, the global automotive appearance chemicals market is expected to grow at 4.9% CAGR between 2021 and 2031.
Future Market Insights (FMI) in its latest report reveals that windshield washer fluids will remain the most preferred product type in the market. Half of global automotive appearance chemicals sales are expected to be contributed by the sales of windshield washer fluids.
Over the assessment period, from 2016 to 2020, the market demonstrated sluggish growth at 0.8% CAGR. Unprecedented outbreak of COVID-19 also had a negative impact on automotive industry, causing a negative ripple effect on automotive appearance chemicals sales.
However, with the recovery of manufacturing activities and owing to the growing sales of electric cars, the market picked up the pace in the second quarter of 2021.
Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-1847
As per FMI, sales of automotive appearance chemicals registered year-over-year growth of 4.2% between 2020 and 2021. Increment in government activities to recover the economy and promote the sales of electric vehicles also aided the growth.
The market is expected to gain from stringent regulations implemented on the use of hazardous and toxic chemicals. These policies have compelled manufacturers to develop eco-friendly products. With growing sales of luxury cars and need to maintain aesthetic look have surged considerably, in turn fuelling demand in the market.
Due to the high visibility of windshield area and top of the car, demand for windshield washer fluids, car wax, and coatings is expected to rise. As luxury cars require high maintenance to retain their polished and elegant looks, demand for car wax and coatings also will surge.
“Sustainability concerns and implementation of stringent regulatory policies on the use of toxic chemicals have encouraged leading players to invest in research activities. Hence, development of eco-friendly products, adoption of digital marketing strategies, and reliance on e-commerce platforms are at all-time high,” says a FMI analyst.
Key Takeaways from FMI’s Automotive Appearance Chemicals Market Survey
Visit for More Report Preview: https://www.futuremarketinsights.com/reports/automotive-appearance-chemicals-market
As per the Future Market Insights study, the global automotive appearance chemicals market is highly competitive in nature.
Around 40-45% of global revenue is expected to come from top 5 players, including 3M Company, PPG Industries, Sasol Ltd., BASF SE, and DuPont de Nemours Inc.
Leading players are investing actively in research and development activities for the development of eco-friendly products. In order to expand their global reach, players are relying on expansion strategies such as mergers, collaborations, and acquisitions.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-1847
Some of the key players operating in the automotive appearance chemicals industry market profiled by FMI are:
More Valuable Insights on Automotive Appearance Chemicals Market
In its latest report, FMI provides a detailed analysis of the global automotive appearance chemicals market, providing historical data of 2016-2020 and forecast statistics for the period of 2021-2031. In order to gain a better perspective on the market potential, its growth, and scope, the market is segmented on the basis of:
By Product Type:
By Vehicle Type:
By Sales Channel:
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-1847
Key Questions Covered in the Report
Browse Extensive Coverage of our Top Trending Reports:
Bromine Derivatives Market: Bromine Derivatives Market is estimated to grow at a CAGR of ~4% over the forecast period of 2019-2029
Conductive Fibers Market: Conductive Fibers Market is projected to grow at a CAGR of approximately 11% between the forecast period of 2019 and 2029
Biomass Pellets Market: The Global Biomass Pellets Market was valued at around US$ 9 Bn in the year 2018, and is expected to expand at a CAGR above 8% over the forecast period of 2019-2029
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.