Automotive Chemicals Market Trends, Share and Innovations 2034

Automotive Chemicals Market Size, Supply Chain & Logistics Data

The automotive chemicals market size is forecast to grow from USD 2.66 billion in 2025 to USD 4.71 billion by 2034, driven by a CAGR of 6.64% from 2025 to 2034.

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Introduction

The automotive chemicals market is an integral sector of the advanced chemicals industry. This industry deals in manufacturing and distribution of chemicals for the automotive users. There are several products manufactured in this industry consisting of material plastics, lubricants, coatings, adhesives, maintenance chemicals and some others. These chemicals find several applications in two-wheelers, passenger cars, light commercial vehicles and others. The growing demand for commercial vehicles in different regions has contributed to the industrial expansion. This market is projected to rise significantly with the growth of the automotive industry in different parts of the world.

• According to the International Organization of Motor Vehicle Manufacturers, around 14325719 commercial vehicles were sold globally in 2022 that increased to 16294084 in 2023.

Highlights of the Automotive Chemicals Market

• North America held the dominant share of the automotive chemicals market due to the rising demand for passenger cars in U.S. and Canada.
• Asia Pacific is expected to grow with the highest CAGR due to the growing investment in the chemicals industry along with presence of numerous automotive brands in this region.
• The material plastics segment dominated the market due to its rapid application in several automotive components such as exterior body panels, engine components, interior trim, under-the-hood parts and some others.
• The two-wheelers segment led the market due to the increasing sales and production of powerful bikes coupled with rise in number of motorcycle enthusiasts across the world.

Automotive Chemicals: Stats and Figures

• According to the India Brand Equity Foundation, the government of India aimed at investing around Rs 8 lakh crores in chemicals and petrochemicals sector by the year 2025.
• According to the U.S. Department of Energy, the government of U.S. announced to invest around US$ 78 million for decarbonizing chemical manufacturing across the country.
• According to the Singapore Accreditation Council, the Singapore chemicals industry is expected to reach US$ 12.7 billion by 2025.
• According to the ministry of commerce (MoC), around US$ 21.3 billion was invested in coke and refined petroleum manufacturing sector in Qatar.

Industry Leader Announcement

In July 2024, Caroline Cathelin, global innovation director of advanced polymer solutions at LYB announced that, “We're committed to improve the state of the current technologies to shape the future of automotive interior applications by introducing new solutions to support our customers in addressing the new industry challenges, The Schulamid ET100 line exemplifies this dedication by delivering superior performance through differentiated solutions."

Competitive Landscape

The automotive chemicals market is a matured industry with the presence of numerous dominant players. Some of the important players in this industry comprises of ExxonMobil Corporation, FUCHS Group, Chevron Corporation, TotalEnergies, BASF SE, Royal Dutch Shell plc, and some others. These market players are investing heavily for manufacturing high-grade chemicals for the automotive sector and adopting numerous strategies to maintain their dominant position in this industry.

• According to the annual report of Chevron Corporation, the annual revenue of the company in 2021 was US$ 155606 million that increased to US$ 196913 in 2023.

Market Segmentation

By Product Type

• Material Plastics
• Lubricants
• Coatings
• Adhesives
• Maintenance Chemicals

By Application

• Two-Wheelers
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa