New Product Developments are Expected to Drive the Growth of the Cleaner & Degreaser Aftermarket
The cleaner & degreaser aftermarket is projected to grow at a CAGR of 1.91% from 2017 to 2025, and the market size is estimated to grow from USD 38.95 Billion in 2017 to USD 45.30 Billion by 2025. The cleaner & degreaser aftermarket is influenced by factors such as the total number of vehicles on the road, demand for improved engine performance and fuel efficiency, emission regulations, and others. Some of the other factors that are driving the cleaner & degreaser aftermarket are the positive growth of the automotive industry in emerging economies, the growth of bio-degradable products to control pollution, and recent technological developments in automotive chemicals.
New product developments are expected to drive the growth of the cleaner & degreaser aftermarket. New technologies are being adopted for the manufacturing of cleaners and degreasers. Conventionally, degreasers were made of toxic materials such as perchloroethylene (Perc), methylene chloride, and trichloroethylene (TCE). These materials are not biodegradable and harmful to health. Today, companies such as Penray, Radiator Specialty, and many others have introduced biodegradable cleaners and degreasers that are not harmful to health and provide environmental, health, and safety benefits. Upcoming technologies such as the carbon-cutting technology, PowerSolve technology, and advanced biodegradable formulations in cleaners and degreasers help to remove impurities quickly and easily from vehicle parts such as engine, differential, and others. Also, hybrid degreasers, which are a combination of solvent and water-based degreasers, have been introduced. These degreasers can remove the tough blend of soil and oil deposits. They are renewable, less toxic, and biodegradable. A hybrid degreaser can also be used for heavy-duty vehicles. It removes oils and lubricants without reacting with the parts of heavy-duty vehicles or damaging the treated surface, which results in the peak performance of the vehicle.
Asia Pacific is estimated to be the fastest growing cleaner & degreaser aftermarket during the forecast period. Vehicle parc is the key factor that influences the cleaner & degreaser aftermarket in this region. China has a total vehicle parc of 162.8 million units, which is the largest in the Asia Pacific region. China accounts for 37.33% of the total vehicle parc of Asia Pacific. China is also the largest automotive market in the world and continues to drive regional sales in Asia Pacific. The market growth in the region can be attributed to factors such as strong economic growth, boom in logistics and supply chain sector, high average life of vehicles, growing awareness of cleaner and degreaser products, and others. These factors have played a vital role in the increasing production and sale of passenger and commercial vehicles in this region. As a result, the vehicle parc has increased, which in turn drives the growth of cleaner & degreaser aftermarket.
The aerosol can supply mode is projected to be a high growth segment of the cleaner & degreaser aftermarket. Aerosol cans have proved to be a reliable and easy-to-use mode of supply for cleaner and degreaser. The majority of aerosol cans are made of steel or aluminum, which can be scrapped easily after use. Aerosol cans are preferred over other supply modes as they are portable and offer a direct stream which prevents the cleaner and degreaser from emitting a wide spray, thereby preventing the wastage of cleaner and degreaser. With the help of aerosol cans, cleaning can be done effectively with a small quantity of liquid. Also, in developed countries such as the US and Germany, cleaners and degreasers are used as Do-It-Yourself (DIY) product. Hence, aerosol cans are preferred for such purposes.
Related Reports:
Cleaner & Degreaser Aftermarket by Part (Cleaner (Brake, Carburettor, Engine Flush), Degreaser (Engine, Exhaust, Transmission)), Type (Water, Solvent Based), Supply (Aerosol Can, Spray Bottle), Service, Vehicle Type, and Region - Global Forecast to 2025
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