DUBLIN--(BUSINESS WIRE)--The "Car Care Products Market by Product Type (Cleaning and Caring, Polishing and Waxing, Sealing Glaze and Coating), Solvent Type, Application, Consumption, Distribution Channel, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global car care products market is projected to grow from USD 11.8 billion in 2019 to USD 16.1 billion in 2027 at a CAGR of 4% during the forecast period.
The car care products market is dominated by a few global players. The key players in the market are 3M (USA), Illinois Tool Works (USA), Autoglym (UK), Sonax (Germany), Wrth Group (Germany), Soft99 Corporation (Japan), Tetrosyl (UK), Simoniz USA (USA), Turtle Wax (USA), Liqui Moly (Germany), Northern Labs (USA), Armored Group (USA), Automagic (USA), Bullsone (South Korea), Jopasu Systems India Pvt Ltd (India) and Guangzhou Biabong Car Care Industries Co. Ltd (China).
Rising disposable income has resulted in an increase in the spending capability towards maintaining the car using car care products
The growth of the car care products market is into a rising phase due to the technological advancements in car washing techniques. The increasing disposable income in major country markets enables consumers to afford these technologies and products. Partnerships between car care product manufacturers and company-authorized service centers will provide users with efficient end-to-end solutions. Consumers have become aware of the advantages of car care products in protecting the car against the sun, snow, and other harmful factors.
Cleaning and Caring Products is expected to be the fastest-growing segment and will continue to grow until 2027
The segment is mainly driven by the demand for exterior cleaning and interior cleaning, including upholstery cleaning, floor mats cleaning, etc. Innovative product ranges with new types of chemical compositions and solvents are being introduced by companies to cater to the demands of the consumers. The growth of this segment is mainly driven by the multipurpose, user-friendly products that it offers at competitive price ranges.
Water-based solvents are expected to lead the market globally
There has been a bigger push for water-based solvents because of the low cost of raw materials required for manufacturing these products. These products are biodegradable and environmentally friendly. In Europe, there has been laws and regulations regarding preserving water and less use of hazardous chemicals in the manufacturing of car care products. Water-based solvents address these issues efficiently.
Auto Beauty Shops are expected to be the fastest-growing segment and will continue to grow in the future
Advancements in the technology and ever-increasing demand for efficient car cleaning products has resulted in the growth of auto beauty shops. The growth has been observed in automated car wash machines like gantry, conveyer tunnel car wash, etc., which will wash the cars within a few minutes.
Asia Pacific is the largest market for car care products, followed by North America
The market in the Asia Pacific region has been witnessing significant growth in the new car sales volume. There has been an increase in disposable income due to which consumers are willing to spend money to give an updated aesthetic look to their cars. Beijing has a heavy pollution problem and often experience dust storms. This problem has boosted the growth of the car washing industry in Beijing. The governments of China, Australia, and India have enforced stricter rules and regulations to address the problem of water scarcity.
Australia leads the deployment of car wash machines as the demand for the quicker and express car exterior car wash is increasing. Japan and Korea, being technologically advanced countries, have also integrated automation for car washing, which can preserve water on a larger scale. In India, people are more likely to keep their cars for a longer duration. Thus, they maintain the same car using car care products instead of buying a new one. There has been a rise in the sales of premium cars in the Indian market, which will further drive the usage of car care products.
Key Topics Covered
1.1 Objectives of the Study
1.2 Market and Product Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency and Pricing
2 Research Methodology
2.1 Secondary Data
2.1.1 Key Data From Secondary Sources
2.2 Primary Data
2.2.1 Sampling Techniques & Data Collection Methods
2.2.2 Primary Participants
2.3 Market Size Estimation
2.4 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Market, By Product Type
4.3 Market, By Interior Application
4.4 Market, By Consumption
4.5 Market, By Solvent
5 Market Overview
5.2 Market Dynamics
5.3 Impact Analysis
6 Industry Trends
6.2 Product Lifecycle
6.4 Value Chain Analysis
6.4 Porter's Five Forces
7 Global Market, By Product Type
7.2 Market Share Analysis, By Product Type
7.3 Cleaning and Caring
7.4 Polishing and Waxing
7.5 Sealing Glaze and Coating
7.6 Other Products
8 Global Market, By Solvent Type
8.2 Water Based
8.3 Foam Based Solvents
8.4 Market Share Analysis, By Solvent Type
8.5 Opportunity Analysis, By Solvent Type
9 Global Market, By Application
9.4 Market Share Analysis, By Application Type
9.5 Opportunity Analysis, By Application Type
10 Global Market, By Consumption
10.2 Autobeauty Shops
10.3 Service Centers and Garages
10.4 Individual Sources
10.5 Market Share Analysis, By Consumption Type
10.6 Opportunity Analysis, By Consumption Type
11 Global Market, By Distribution Channel
11.2 Diy/Retail Stores
11.3 DIFM/Service Centers
12 Global Market, By Region
12.2 North America
12.4 Asia Pacific
13 Competitive Landscape
13.2 Market Ranking Analysis
13.3 Competitive Situation & Trends
13.4 Product Developments
13.4.1 New Product Developments
13.4.2 Partnerships/Joint Ventures/Collaborations
13.4.4 Mergers & Acquisitions
14 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis)
14.2 Turtle Wax
14.4 Soft99 Corporation
14.6 Liqui Moly
14.7 Simoniz USA
14.9 Northern Labs
14.10 Illinois Tool Works
14.11 Wurth Group
14.12 Guangzhou Biabong Car Care Industries Co. Ltd.
14.13 Auto Magic
14.14 Armored Auto Group
14.16 Jopasu Systems Pvt. Ltd.
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