Vehicle Appearance Gets its Fair Share of the Spotlight for Reasons that Go Beyond Aesthetics into Performance, Functional & Safety Benefits
The global market for Automotive Aftermarket Appearance Chemicals is projected to reach US$5.6 billion by 2025 , driven by rising average age of vehicle fleet, a parallel increase in maintenance expenditure, and undeterred customer focus on aesthetic appearance. The large global base of vehicle fleet is expected to benefit demand for automotive aftermarket appearance chemicals. The growth in the world's vehicle fleet can be put into perspective by the fact that the transportation industry currently accounts for over 50% of the world’s oil consumption, most of which is consumed in the form of motor fuel. Given that the vehicle fleet size is directly proportional to the population of a region, China and India which are already the most important automotive markets in the world, will emerge as strong markets for aftermarket products including appearance chemicals. The growth in the number of ‘Do-it-Yourself’ customers is benefiting demand for aftermarket appearance chemicals. The ri...