Market Overview:
The global car care products market is expected to progress from USD 11.8 billion in 2021 to reach USD 16.1 billion by 2027, at a CAGR of 4.0% during the foreseen period.
Car care products are high performing chemicals that are used to increase the aesthetic appearance of the cars alongside improving the longevity of the vehicles. Aside from this, these products not only enhance the shine and gloss of the vehicles while protecting the visual appeal of the cars.
Growth in availability of water-based solvents, consumer awareness towards vehicle maintenance, demanded in new car sales, increase within the income of consumers, advancements in car wash technology etc., are a number of the main factors for the expansion of the market.
Recent Developments:
Automotive lubricant brand, Castrol India Limited (Castrol) has come up with 3M India Limited (3M) to bring a variety of market-leading vehicle care products to the automotive aftermarket.
Mercedes-Benz introduces a waterless car cleaning solution alongside a variety of eco-friendly care products in India.
Maruti Suzuki India has introduced its Ecstar brand within the Indian car market. Ecstar is the company's global brand of coolant, lubricants and care products.
Drivers and Restraints of Car Care products:
Drivers:
Major driving factors of the global Car Care Products Market are in rising phase via service and manufactures in connected, autonomous, shared, electrified, are going to be the long term of the industry and involves significant additional investments, and so as to finance. Consumers became extra aware of the benefits of car wash services, like improved shine and safety. Also, the rise in environmental awareness among consumers is supporting the expansion of automobile care products. A replacement phase of consolidation and partnerships is predicted within the global auto industry. A surge in demand in emerging markets is supporting the mid-term perspectives of the car business. Intensifying consumer appetite for alternative-fueled vehicles and new mobility services via care products also boosts this business expansion.
Restraints:
High costs act a serious deterrent across the world uniformly. Developing countries and less-developed countries are less likely to use care tools because of their lack of awareness and buying power. The usage of specific care tools also poses disadvantages. For instance, frequent application of car polish degenerates the wax layering, which ultimately makes the car more vulnerable to corrosion. Beautification could also cause damage to the car's exterior. Pressure washers could create dents on the car's surface which is likely to impact the expansion of automotive care negatively.
Market Segmentation:
By Product Type
The product segment comprises various products like wheel care, interior, exterior care, paint cleaning and protection, paint restoration for the old vehicles etc. Recent innovations like bio-based car wash detergents and soaps are creating an impactful trend shaping the merchandise innovation strategies of the manufacturers. Simple use and comparatively affordable price point still influence sales potential for cleaning and care products.
By Solvent Type
There has been a much bigger push towards water-based solvents by major care manufacturers because the market is price sensitive. Therefore the raw materials needed for this sort of solvents cost less. Many countries within the world face acute water shortage, and hence governments have imposed rules and regulations towards the usage of water for the car wash. Many care products like shampoos, polish wax, etc., don't require water to wash the surface after their application but are often wiped off the surface with a dry cloth/microfiber cloth.
By Application
Interior car service includes more effort and time than exterior detailing. An unclean interior cabin not only features a bad odor but also adds to operational complications. Dirty air exhaust spreads allergies through the cabin, stain and grit cause the sensors and switches to fail, and screened windows can obstruct the view of the driving force. Hence cleaning car interiors is entirely just washing with soap and water. Cleaning of interiors like the dashboard, floor mats, carpets, upholstery, etc., is achieved through steam cleaning and vacuuming techniques.
By Consumption
By Distribution Channel
Service centers account for a prominent share in the global car care products market and are likely to witness steady growth in the coming years.
Car care products Market Region wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
The demand for car care products has seen rapid increases in the U.S. North America projected the growth with the market share of 32.33%. Europe is the largest supplier because of the steady growing regional marketplace for care products and held 38.05% share within the global market. Asia Pacific is predicted to carry the most important share within the market during the forecast period. Over the last decade, the Asia pacific automotive industry has undergone the best transformation in its history. Asia is taking an increasing share of worldwide vehicle sales and is that the only major market expected to ascertain continued strong growth in both the medium and future in China, India, Malaysia and other developing markets in Southeast Asia. In China, for instance, the rising demand will continue driving the steady growth of the Chinese auto market, with the markets for brand spanking new purchases and replacement of vehicles growing rapidly.
Key Players of Market:
Key players profiled in the global car care products market include 3M Corp, Northern Labs, Liqui-Moly GmbH, Soft99 Corporation, Autoglym, Simoniz USA, Sonax Gesellschaft MBH, Tetrosyl Ltd., Turtle Wax Inc., Guangzhou Biabong Car Care Industries Company Ltd., Armored Auto Group, Illinois Tool Works, Auto Magic, Bullsone, Jopasu Systems Pvt Ltd, and Würth Group.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Car Care Products Market, By Product Type
6.1.1 Polishing & Waxing
6.1.2 Cleaning & Caring
6.1.3 Sealing Glaze & Coating
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Car Care Products Market, By Distribution Channel
6.2.1 DIFM/Service Centers
6.2.2 DIY/Retail Stores
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Car Care Products Market, By Solvent Type
6.3.1 Foam-Based Solvents
6.3.2 Water-Based Solvents
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Car Care Products Market, By Consumption
6.4.1 Autocare Shops
6.4.2 Individual Sources
6.4.3 Service Centers & Garages
6.4.4 Market Size Estimations & Forecasts (2019-2024)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
6.5 Car Care Products Market, By Application
6.5.1 Exterior
6.5.2 Interior
6.5.3 Market Size Estimations & Forecasts (2019-2024)
6.5.4 Y-o-Y Growth Rate Analysis
6.5.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Distribution Channel
7.2.4 By Solvent Type
7.2.5 By Consumption
7.2.6 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Distribution Channel
7.3.4 By Solvent Type
7.3.5 By Consumption
7.3.6 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Distribution Channel
7.4.4 By Solvent Type
7.4.5 By Consumption
7.4.6 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Distribution Channel
7.5.4 By Solvent Type
7.5.5 By Consumption
7.5.6 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Distribution Channel
7.6.4 By Solvent Type
7.6.5 By Consumption
7.6.6 By Application
8. Key Player Analysis
8.1 3M Corp
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Northern Labs
8.3 Liqui-Moly GmbH
8.4 Soft99 Corporation
8.5 Autoglym
8.6 Simoniz USA
8.7 Sonax Gesellschaft MBH
8.8 Tetrosyl Ltd
8.9 Turtle Wax Inc
8.10 Guangzhou Biabong Car Care Industries Company Ltd
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
