Automotive chemicals Market are components used in many sectors of the automotive industry. Various products such as lubricants, adhesives, cleaning and maintenance chemicals, and coatings are utilized in the automotive sector to increase efficiency and protect against corrosion.
As consumer spending on automobiles and other products is driven by economic conditions, global demand for automotive chemicals is strongly influenced by trends and growth patterns in sectors that serve as barometers for national economies.
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The automotive chemicals market is expanding due to acceleration of economic activity in emerging economies such as China, India and Brazil. These economies include China, India and Brazil.
Growing number of lightweight vehicles along with increasing popularity of heavy-duty vehicles such as sport utility vehicles (SUVs) are expected to drive the market. Emerging trends in the automotive sector, such as an emphasis on reducing emissions and a focus on fuel economy, will guide future growth and increased demand for automotive chemicals.
Increasing restrictions on the use of solvent-based paints that contain high levels of volatile organic compounds (VOCs) are expected to slow the market growth. Focusing on creating new chemicals such as bio-based automotive chemicals is expected to open new market expansion possibilities.
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Due to the significant automotive sector in the region, North America and Europe have been the top consumers of automotive chemicals. However, due to rising consumer disposable income and spending on affordable vehicles, the Asia-Pacific region is expected to expand its market in the coming years.
The Dow Chemical Company is one of the major manufacturers of automotive chemicals present in the industry.
- BASF SE
• British Petroleum
• Chevron Corporation
• Exxon Mobil
• Fuchs Lubricants
• Sinopec Lubricant Company
• TEEC Automotive Chemicals Co.
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