Global Polishing Compounds for Automotive  Aftermarket Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Polishing Compounds for Automotive  Aftermarket Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Car compounding refers to the process of using compounds (polishing, rubbing or cutting) in order to restore the damaged car paintwork surfaces. In auto detailing operations, the main purpose of using polishing compounds is to eliminate defects on the body surface, such as paint loss, poor gloss, fine scratches, etc. The polishing compound is used to clean and shine, as well as removing small imperfections on the vehicle’s paint surface. The polishing compounds have the ability to leave a shining and smoothing effect on the paint along with removing light scratches from the paint. This report studies the polishing compounds for automotive aftermarket.

Market Overview:


The latest research study on the global Polishing Compounds for Automotive  Aftermarket market finds that the global Polishing Compounds for Automotive  Aftermarket market reached a value of USD 540.74 million in 2022. It’s expected that the market will achieve USD 773.28 million by 2028, exhibiting a CAGR of 6.14% during the forecast period.

The coronavirus pandemic has negatively affected market growth due to the closure of manufacturing facilities amidst the lockdown. The pandemic impact was witnessed across all the sectors such as automotive. Disruption over the exports from large-scale Chinese manufacturing has created interruptions across. Moreover, in the U.S., the lockdown has resulted in plant closings, further adding to extreme pressure on the international supply base where businesses and customers are at risk. The pandemic has created a global shift in the supply chain, thus affecting automotive and other industries. This, in turn, is disrupting and leading to a downshift in polishing compounds for automotive aftermarket demand.

Increasing demand for auto detailing

Rising car detailing businesses and services is expected to drive the polishing compounds for automotive aftermarket market in the forecast period. Car detailing refers to cleaning and restoring a vehicle to like-new condition. The most basic car detailing options include an external wash and wax, internal vacuuming, window cleaning, surface polishing and other tasks that require car care products.

Rising demand from vintage and luxury car

The polishing compounds for automotive aftermarket market is mainly driven by the demand from vintage and luxury car segments as they require additional maintenance.

Increasing number of electric vehicles

Increasing number of electric vehicles is spurring the demand for automotive aftermarket appearance chemicals.

Region Overview:


In 2021, the share of the Polishing Compounds for Automotive  Aftermarket market in Asia Pacific stood at 34.77%.

Company Overview:



Henkel

Henkel AG & Co. KGaA, commonly known as Henkel, is a German multinational chemical and consumer goods company headquartered in Düsseldorf, Germany. It is active in both the consumer and industrial sectors. Founded in 1876, the DAX company is organized into three globally operating business units (Laundry & Home Care, Beauty Care, Adhesive Technologies) and is known for brands such as Loctite, Persil, Fa, Pritt, Dial and Purex, amongst others.

3M

3M Company, formerly known as Minnesota Mining and Manufacturing Company, is a multinational integrated manufacturing company originated in the United States. It was established in 1902 and changed its current name in 2002. It is one of the constituent stocks of the Dow Jones Industrial Average and produces more than 55,000 products, including abrasive materials, tapes, mixtures, electronic products, display products, medical products and household products. Meguires is a subsidiary of 3M, which provides waxes, polishes, cleaners, conditioners and protectants.

Henkel is one of the major players operating in the Polishing Compounds for Automotive  Aftermarket market, holding a share of 7.56% in 2022.

Segmentation Overview:


Polishing is that ultimate paint preparation step that comes right before the application of protective layers such as wax, paint sealant or glass coating. Car polish comes in two distinctive forms, liquid and solid. Solid polish comes in a round tin. It needs to be scooped out then applied to the paint.

Liquid polish usually comes in a bottle or in a can. It is easier to apply because of its texture. Liquid waxes are easy to apply and require less elbow grease to buff away the white residue. Because of their consistency, liquids create less resistance as they flow across the clear coat on the car.

Among different product types, Liquid segment is anticipated to contribute the largest market share in 2027.

Application Overview:


Passenger cars are motor vehicles with at least four wheels, used for the transport of passengers, and comprising no more than nine seats in addition to the driver's seat.

Commercial vehicles are motor vehicles whose design and technical characteristics are used to transport passengers and cargo, and which can tow a trailer. In terms of categories, it can be divided into taxis, trucks, and passenger cars. Generally, a more professional driver's license and specifications are required to operate.

By application, the passenger cars segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Polishing Compounds for Automotive  Aftermarket market covered in Chapter 3:

Farecla G3 Premium
Presta
FERRO
Sonax
BASF
Wizard
Norton
MERARD
3D
Turtle Wax
Tetrosyl Ltd.
Henkel
Mirka Ltd.
Cartec
Divortex
Menzerna
MAFRA
Mothers Polishes Wax Cleaners
Pai Cristal Italia
3M

In Chapter 4 and Chapter 14.2, on the basis of types, the Polishing Compounds for Automotive  Aftermarket market from 2018 to 2029 is primarily split into:

Liquid
Solid

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Polishing Compounds for Automotive  Aftermarket market from 2018 to 2029 covers:

Passenger Car
Commercial Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)