Global Car Care Products Market Insights Forecasts to 2032
- The Global Car Care Products Market Size was valued at USD 12.83 Billion in 2022.
- The Market is growing at a CAGR of 4.0% from 2022 to 2032
- The Worldwide Car Care Products Market is expected to reach USD 18.35 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Car Care Products Market Size is expected to reach USD 18.35 Billion by 2032, at a CAGR of 4.0% during the forecast period 2022 to 2032.
Car care products are synthetic chemicals used to improve vehicle appearance, life expectancy, and shine. Car care products safeguard and cure wear and tear, ensuring that each aspect of the vehicle is properly maintained and ensuring the vehicle's exterior appeal is maintained. It typically consists of pads, cleaning products, sprays, waxes, anti-aging moisturizing milk, and dust repellents. Numerous car maintenance products, such as polishes, waxes, tire cleaners, paint-resistant treatments, glass cleaners, and rim protectors, are readily accessible on the market. It also maintains interior hygiene and gives the occupants of the vehicle an appealing vibe. Higher cleanliness concerns, restoration of antique cars, and higher used car sales are likely to boost market expansion. Furthermore, growing sales of high-end and luxury cars, and also electrically powered vehicles, which require frequent care to maintain the vehicle's premium appearance and sensation, will fuel demand for the car care products market. Furthermore, automobile component makers contribute to the market's development. For example, in May 2019, Castrol, a lubricant manufacturer, partnered with 3M to develop vehicle care solutions. This collaboration will offer 3M-Castrol branded bike and automobile care products such as shampoo, glass cleaner, cream wax, and dashboard and tire dressings to the market.
This research report categorizes the market for the global car care product market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the car care product market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the car care product market.
Global Car Care Products Market Report Coverage
|Market Size in 2022:||USD 12.83 Billion|
|Forecast Period 2022-2032 CAGR:||4.0%|
|2032 Value Projection:||USD 18.35 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||100|
|Segments covered:||By Product Type, By Distribution Channel, By Vehicle Type, By Region, COVID-19 Impact Analysis|
|Companies Covered:||3M, Illinois Tool Works, Adolf Wurth Group, Tetrosyl Ltd., Liqui Moly GmbH, Chemical Guys, MA-FRA S.p.A., Sonax Gmbh, Cartec B.V., Jopasu India Pvt. Ltd., Adam's Polishes, Griot's Garage, Amtra Sp. z o.o., Simoniz USA, Turtle Wax, Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Leading players implement e-commerce platforms to expand their market share.
E-commerce is the purchase of products and services via the Internet using an e-commerce site or applications. E-commerce is one of the world's fastest-growing markets. The ease of purchase or convenience, price and savings on various items and services, and home delivery are the primary reasons for the growing popularity of e-commerce platforms worldwide.
The launch of a new product is intended to enhance the market.
The commercialization of new car care products, such as water-based cleaners and anti-microbial car care products, particularly for high-end and luxury vehicles, is likely to fuel consumer demand for the car care products market. Water-based cleaning products not only can dissolve contaminants, but they can also chemically interact with such pollutants, rendering them more soluble in water. Water-based cleaners are becoming more popular in the car care goods industry due to their numerous advantages over solvent-based cleaners. In the projected years, such advancements in car care products are expected to generate profitable opportunities for the global car care product market.
Limitations for vehicle washes and auto care goods
The EPA's recommendations that automobile owners use specialized detailing solutions rather than do-it-yourself (DIY) cleaning procedures at home have a significant effect on the car care products market for DIY auto care products. There is an abundance of laws and guidelines that must be followed in order to ensure the safety of the environment and the employees working there when someone wishes to operate a carwash. As a result, these restrictions have immediate effects on the demand for DIY and DIFM car care products market.
Rising prices and raw material fluctuations retrain the market.
Car care products are made from a variety of basic materials such as leather detergent, chemical solvents, a blend of carnauba wax, specific polymer compounds, and adhesives. The cost of such basic components has a considerable impact on the entire cost of the product. Thus, increases in the cost of these raw materials have a detrimental impact on the vendors of car care products. As a result of these reasons, rising raw material prices are likely to hinder the expansion of the car care product market over the forecast period.
By Vehicle Type Insights
The passenger vehicles segment accounted the largest revenue share of more than 62.5% over the forecast period.
On the basis of vehicle type, the global car care products market is segmented into passenger vehicles and commercial vehicles. Among these, passenger vehicles are dominating the market with the largest revenue share of 62.5% over the forecast period. Passenger vehicle sales are increasing at a rapid pace, and there is also an expanding market for second-hand cars globally. Used automobiles only sell for a good price when they are in good condition. As a result, it's essential to maintain the car in good shape for as long as feasible while simultaneously keeping the resale value as high as feasible. This is predicted to increase demand for the car care products market. Furthermore, the rising passenger car fleet, particularly in Asia Pacific, is likely to drive the car care products market throughout the forecast period.
By Distribution Channel Insights
The retail chains segment is witnessing significant CAGR growth over the forecast period.
On the basis of retail chains, the global car care products market is segmented into retail chains, e-commerce, care detailing stores, and others. Among these, capacitive is witnessing significant CAGR growth over the forecast period. The increasing global predominance of established retail chains is predicted to enhance the availability of car maintenance goods. Large enterprises retail chains, such as Costco and Walmart, among others, offer lowered pricing models, allowing them to sell car care products at cheaper prices than other channels. Furthermore, e-commerce grew as the second-most significant segment and is predicted to grow the fastest throughout the forecast period. The construction of local service shops and the rising number of retail outlets in specialist areas through independent agreements are projected to strengthen retail distribution networks.
By Product Type Insights
The interior care & car cleaning products segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global car care products market is segmented into the car cleaning products, car polish, car wax, glass cleaning products, interior care products, wheel & tire care products, and others. Due to its widespread use in eliminating impurities and residues from the external surface of vehicles, the interior care & car cleaning products sector is dominating the market with the biggest revenue share of 38.6% over the projection period. Interior care products cover an extensive variety of products used to clean the inside of automobiles. Among them are dashboard cleanser, leather detergent, upholstery and carpet cleaner, fabric freshener, dashboard polish, and leather cleaner. These all add to the driver's and passengers comfort in the car. Furthermore, among car cleaning products, the car wash shampoo and detergent market is a prominent section in the market since it aids in the safe removal of dirt, oil, grease, stains, and various other contaminants from the vehicle body.
North America dominates the market with the largest market share over the forecast period.
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North America is dominating the market with more than 41.03% market share over the forecast period. Because of rising automobile sales and increased awareness about vehicle maintenance, North America is a developed consumer base for the car care products market. Additionally, the demand for automobile care products in North America is likely to rise throughout the forecast period, anchored by increased passenger car sales. Furthermore, the rising adoption of minivans as recreational vehicles and the rising demand for luxury automobiles are expected to drive the car care products market.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. A number of factors can be linked to this expansion, including an increase in automotive sales in certain of the region's largest markets, such as China and India. The existence of important car manufacturers in the region, together with available resources and a qualified workforce, is expected to boost its penetration over the projection period. As a result, there is a significant demand for various car care items such as wax, shine, and cleaning tools.
List of Key Market Players
- Illinois Tool Works
- Adolf Wurth Group
- Tetrosyl Ltd.
- Liqui Moly GmbH
- Chemical Guys
- MA-FRA S.p.A.
- Sonax Gmbh
- Cartec B.V.
- Jopasu India Pvt. Ltd.
- Adam's Polishes
- Griot's Garage
- Amtra Sp. z o.o.
- Simoniz USA
- Turtle Wax, Inc.
Key Market Developments
- On June 2022, LIQUI MOLY's line of car care products continues to grow. Although LIQUI MOLY is best known for its lubricants and additives, the company's line of car maintenance products is constantly increasing. The Display Cleaner and Detailer are the most recent upgrades. Detailer rapid paint care is a global talent that does a lot with little effort. The Display Cleaner is intended to remove fingerprints and dust off navigation systems, touchscreens, and other sensitive surfaces where aggressive cleaning products could damage the surface. It is also safe to use on eyeglasses, camera lenses, helmet visors, and other non-absorbent surfaces.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Car Care Products Market based on the below-mentioned segments:
Car Care Products Market, Product Type Analysis
- Car Cleaning Products
- Car Polish
- Car Wax
- Glass Cleaning Products
- Interior Care Products
- Wheel & Tire Care Products
Car Care Products Market, Distribution Channel Analysis
- Retail Chains
- Care Detailing Stores
Car Care Products Market, Vehicle Type Analysis
- Passenger Vehicles
- Commercial Vehicles
Car Care Products Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the Car Care Products market?The Global Car Care Products Market is expected to grow from USD 12.83 billion in 2022 to USD 18.35 billion by 2032, at a CAGR of 4.0% during the forecast period 2022-2032.
2. Which are the key companies in the market?3M, Illinois Tool Works, Adolf Wurth Group, Tetrosyl Ltd., Liqui Moly GmbH, Chemical Guys, MA-FRA S.p.A., Sonax Gmbh, Cartec B.V., Jopasu India Pvt. Ltd., Adam's Polishes, Griot's Garage, Amtra Sp. z o.o., Simoniz USA, Turtle Wax, Inc.
3. Which segment dominated the Car Care Products market share?The passenger vehicles segment in vehicle type dominated the Car Care Products market in 2022 and accounted for a revenue share of over 62.5%.
4. What are the elements driving the growth of the Car Care Products market?The rise of the automotive industry and rising consumer awareness about vehicle maintenance and repair are the key factors driving the car care products market.
5. Which region is dominating the Car Care Products market?Asia Pacific is dominating the Car Care Products market with more than 38.7% market share.
6. Which segment holds the largest market share of the Car Care Products market?The interior care & car cleaning products segment based on product type holds the maximum market share of the Car Care Products market.
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