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North American Automotive Appearance Care Chemicals Market
Frost & Sullivan, June 2011, Pages: 157
The study covers the latest trends and market activities in the automotive appearance care chemicals space. The growth rates of various products have been analyzed, and the same have been used to forecast the growth rates of chemicals used in these products such as surfactants, chelating agents, waxes, polymers, and corrosion inhibitors. Industry challenges and market drivers and restraints have been analyzed, and their impact during the forecast period has been given. The competitive scenario has been discussed, and companies are classified into tiers one and two. Product profiling of top companies in various segments has been done
This research service titled North American Automotive Appearance Care Chemicals Market provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment in addition to the challenges and issues faced by market participants. In this research, Frost & Sullivan’s expert analysts thoroughly examine the following segments: surfactants, chelating agents, polymers, waxes, and corrosion inhibitors.
Preference for Automatic Car Washes and Growth in New Car Sales Drives the North American Automotive Appearance Care Chemicals Market
With automobile sales picking up steam since 2010, the prospects for the North American automotive appearance care chemicals market are looking bight. The demand for automotive appearance care products has been growing in tandem with the trends in the automobile market. The longer retention of automobiles and growing trend of baby boomers that prefer to restore their classic cars drive the market as well. The automotive appearance care products market was affected by the recession, as these products fall under the discretionary spending category. However, the market showed good recovery in 2010, as companies enjoyed a significant growth in earnings .A high portion of the market revenue was earned from the automatic car wash segment, as a majority of car owners preferred to choose this service rather than using do-it-yourself products. “Car shampoos, wheel cleaners, etc are slated to grow at a faster pace than products such as glass cleaners, which are expected to grow slowly,” notes the analyst of this research service. “This is because most people prefer to use commercial car washes which typically do not use glass cleaners.” There are more than 15,000 car washes generating more than $6 billion a year, and many of them are conveniently located in gas stations. This is a big driver for the appearance care products segment.
Cars, including used and new ones, on road are forecasted to grow at around 1.3 percent. With the general economy reviving and consumer confidence increasing, the total number of vehicles on road is forecast to increase, though at a slower rate. This is a significant driver for the automotive appearance care chemicals market.
Balancing Cost, Performance, and Eco-friendliness Crucial for Successful Business Outcomes
Although the prospects for the market look upbeat, there are some challenges clouding its landscape. Rising fuel prices have encouraged the use of public transportation systems, and rising environmental consciousness has popularized the car pooling concept. These factors have impacted this market to an extent. The surfactants and waxes segment has been particularly affected by escalating crude oil prices, placing constant pressure on the margins of surfactant manufacturers. The surfactants segment is highly fragmented, and the products are offered at a very low price. “The alcohol ethoxylates surfactants market has witnessed many new entrants, and price competitiveness has been an important factor in this market,” says the analyst. “This has created pricing pressures, thus affecting margins.” To deal with this issue, manufacturers have to come up with innovative products and differentiate their products by manufacturing bio-based products.
Biodegradable agents are poised for high growth owing to the increasing environmental consciousness of end users. End users are demanding products that are cost effective, convenient, and efficient. Consumers of automotive appearance care products are looking to recycle the water used in cleaning. Formulators also want the chemicals to be non-corrosive., Apart from making their manufacturing processes green, supplier companies should focus on making their products green as well. The challenge here is to produce products in line with green requirements yet offer optimum performance. Transition from petro-based products should be done without any compromise on the performance and strength of the product.
Market Sectors:
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
- The United States
- Canada
By Product Type;
- Surfactants
- Chelating agents
- Polymers
- Waxes
- Corrosion Inhibitors
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