Car Care Products MARKET EXPECTED TO FLOURISH AT A SIGNIFICANT CAGR OF 4.9% BY 2022-2030
No. of Pages- 110+
List of tables- 20+
List of Figures- 20+
“According to the research report published by Polaris Market Research, the Global Car Care Products Market Size Is Expected to Reach USD 6.47 Billion By 2030, at a CAGR of 4.9% during the forecast period.”
Car care products and car cleaning products help to maintain and improve the appearance of a car. These chemicals are used to protect and heal damages such as scratches and enhance the vehicle’s life expectancy. Car maintenance products such as window cleaners, wheel cleaners, and others can help to ensure that each part of the car receives the best maintenance. The growing customer awareness about automobile washes and a huge network of car care center has been fueling the demand for car care products over the past few years.
Many automotive cosmetic chemicals available in the market, such as waxes, polishes, paint protection treatments, tire cleaners, rim protectors, and glass cleaners, are preferred by the automobile industry. The growing launches of automobile maintenance products by the major players and their other strategies are driving the growth of the car care products market. The new Car Care product line involving seven different cleaning and care solutions and six accessories is currently available at select retail partners.
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Car Care Products Market: Growth Drivers
The increase in automotive sales and used automobile sales across the globe are fueling the developments in the car care products market in the last few decades. The surge in passenger vehicles has boosted demand for these maintenance goods, thereby driving the car care products market growth. Also, increased sales of used automobiles in emerging countries due to their low disposable incomes are expected to favor the market growth over the forecast period. Moreover, the increasing trend of automotive firms building service centers in small spaces in the U.S. is also fueling the market growth. In addition, the growing awareness among customers regarding the maintenance of cars to increase their life expectancy is anticipated to accelerate the market during the projected period.
Top Global Market Players:
- 3M
- Altro Group Plc
- Armor All
- Cartec B.V.
- Cartec B.V.
- Chemical Guys
- Illinois Tool Works Inc.
- Jopasu Systems
- Liqui Moly
- Liqui Moly GmbH
- Mafra S.p.A.
- Simoniz USA
- Soft99 Corporation
- Sonax GmbH
- Tetrosyl Ltd.
- Turtle Wax
- Wurth Group.
Car Care Products Market: Segmentation
Insight by Application
Based on the application segment, the interior segment is anticipated to hold the most significant revenue share in the global market in 2020 and is expected to continue its dominance over the forecast period. The interior segment comprises automotive maintenance products used to maintain a vehicle’s interior in good working order. The current breakthroughs in antimicrobial automobile care products are leading to the use of interior vehicle care solutions to keep the aesthetics of an automobile interior well maintained and prevent germs and viruses.
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Geographic Overview: Car Care Products Market
Based on geography, North America dominated the market with the highest share in 2020. The region is expected to grow significantly due to the growing sales of automobiles in the region and the increasing awareness among people for the maintenance of vehicles. The growing concerns about luxury things such as automobiles among people have led to an increase in the demand for these maintenance products, thereby accelerating the market’s growth over the foreseen period. Also, the increasing use of compact trucks as family automobiles, as well as the growing demand for luxury vehicles, is anticipated to boost the market’s growth during the projected period.
Moreover, APAC is expected to account for a high CAGR in the global market in 2020 due to the increasing demand for automobile maintenance products from nations such as India and China. Also, the growing disposable income and population growth in developing economies such as India and South Korea are expected to bolster the automobile industry.
Industry Developments
- In January 2021, Motul, a global producer of high-performance motor oils, launched its new Car Care line in order to expand its product portfolio in the automotive sector.
- In 2021, Turtle Wax announced the expansion of its ultra-premium Hybrid Solutions product line to interior car cleaning products. It allows you to treat the inside of your car with the same high-end treatment as the exterior.
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Car Care Products Market: By Product Outlook
- Car Cleaning
- Car Polish
- Car Wax
- Wheel & Tire Care
- Glass Cleaners
- Interior Care
- Others
Car Care Products Market: By Packaging Outlook
- Less than 250 ml
- 251 – 500 ml
- 501 – 999 ml
- 1 L – 5 L
- Above 5 L
Car Care Products Market: By Application Outlook
- Interior
- Exterior
Car Care Products Market: By Distribution Channel Outlook
- DIY/Retail Stores
- DIFM/Service Centres
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