(MENAFN- News Satori) As per the report published by Fior Markets ,the global automotive part cleaner & degreasers market is expected to grow from USD 41.12 Billion in 2018 to USD 48.08 Billion by 2026, at a CAGR of 1.97% during the forecast period from 2019-2026.The North America region emerged as the global leader in the demand for the automotive part cleaner & degreasers with a 39.82% share of market revenue in 2018. Whereas, The Asia Pacific region is expected to grow at the fastest CAGR of 4.10% over the forecast period.
' Automotive Part Cleaner & Degreasers Market by Product (Cleaners [Brake Cleaners, Engine Flush, Others], Degreasers [Engine Degreasers, Transmission Degreasers, Others]), Type, Supply, Service, Vehicle Type, Regions',and Global Forecast 2019-2026.
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Key players in the global automotive part cleaner & degreasersmarket areBASF SE, The 3M Company, WD-40, The DOW Chemical Company, WurthInc., FuchsGroup, Zep, Inc, GUNK, Penray, ABRO Industries, Inc., The Claire Manufacturing Company, Amsoil, Airosol Company, Inc, Icer Brakes S.A., Bardahl Manufacturing Company, Wynn's, Valvoline and The B'laster Corporation, among others.Major players are progressively launching the professional-strength cleaning products for automotive and powersports consumers looking to protect their investments. For instance in 2018, Amsoil, announced the launch of 3 new aerosol cleaning products viz. AMSOIL Mudslinger, AMSOIL Engine Degreaser, AMSOIL Glass Cleaner for automotive and powersports applications.
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The product segment is divided into cleaners and degreasers. The cleaners segment is divided into brake, carburetor, engine flush, catalytic converter, and others. The degreaser segment id further divided into engine, exhaust, transmission, and others.Engine flush cleaner is specifically used for the purpose of cleaning the inside of an engine and the oil feed system. Thus the engine flush cleaner segment dominated the global market with a 29.58% share of market revenue in 2018.The type segment is fragmented into water and solvent based cleaners. Due to eco-friendly properties as well as rising adoption of water based biodegradable cleaners, the water based cleaners segment is anticipated to grow at the highest CAGR of 4.02% over the forecast period.The supply segment is categorized into aerosol can, drum, jug, pail, and spray bottle. The spray bottle segment is anticipated to grow at the fastest CAGR of 4.04% over the forecast period. The spray bottles are easy to use as well as they come in handy for cleaning the hard to reach places.The service segment is divided into original equipment suppliers (OES) and independent aftermarket (IAM). The independent aftermarket (IAM) segment led the global market with a 58.41% share of market revenue in 2018. Factors such as cost effectiveness and easy availability were responsible for this increased market share.
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Even though the factors such as growing emphasis on fuel efficiency and optimum engine performance, growth of the transportation industry as well as increasing demand for the gasoline direct injection (GDI) engines are driving the global automotive part cleaner & degreasers market. The advent of electric vehicles coupled with technological advancements in the engine coating technologies are expected to restrain the growth of the market over the forecast period.
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