The global Car Care Products market size is expected to be worth around US$ 24.48 billion by 2030, according to a new report by Vision Research Reports.
The global Car Care Products market size was valued at US$ 10.36 billion in 2020 and is anticipated to grow at a CAGR of 4.8% during forecast period 2021 to 2030.
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Growth Factors
The increasing awareness among customers regarding the maintenance of cars to increase their life is expected to drive the market over the forecast period.
The market for car care products is expected to grow significantly owing to the advancements in car washing technologies. Several modern technologies such as in-bay automatic car washing systems and tunnel automatic car washing systems are used in large service centers and professional car washing facilities, which require minimal human effort, leading to a significant reduction in car washing time.
The market was severely impacted by the pandemic situation, where the lockdown has resulted in a decline in the sales of car care products on both the individual and commercial front. In addition, the economic crisis caused by the pandemic situation is expected to have an adverse effect on disposable income, consequently resulting in a decline in the sales of car care products.
Key players such as 3M Company, Inc.; The Clorox Company; and Valvoline Inc. are acquiring the production facilities or divisions of smaller players as a part of their strategies to enhance their scope of operations and provide better services to clients. The companies operate in multiple locations across Europe, North America, and Asia Pacific with global expansion plans.
Report Highlights
Car cleaning products led the market and accounted for above 31.0% share of the global revenue in 2020. This is attributed to the wide usage of shampoo and detergent for the cleaning of the exterior metal surface of the cars. These products safely remove dirt, grease, oil stains, and other contaminants from the vehicle body. In addition, the increasing demand for waterless dry wash products because of the rising environmental concerns is expected to drive the segment.
The car wax segment is expected to be driven by its wide usage for the protection of the exterior surface of the vehicle from stains & smudges. They are specially formulated to fill minor scratches and add shine to the vehicle. In addition, the product helps to reduce the regular repair and refinishing cost of surfaces, thus driving the segment. The commonly used types are carnauba wax and beeswax.
Interior care products are expected to expand at a CAGR of 3.3% over the forecast period on account of the rising awareness among vehicle owners regarding the maintenance of interiors. They help in the deep cleaning of interiors by wiping away residues, dirt, and grime that build upon the surfaces of the interior body without affecting the texture of the interior material.
Wheel and tire care products are important for the maintenance of wheels and tires and elongating their lifetimes. These cleaners are mostly non-acidic and water-based so that they can be used for all the wheel types without spotting. These cleaners dissolve road grime, grease, and brake dust and protect the tires and wheels from long-term damage. Common wheel cleaners include degreasers, surfactants, and metal chelators.
Car care products with a packaging volume of 501 – 999 ml led the market and accounted for about 39.0% share of the global revenue in 2020. This is because this range is a preferred option among individuals, small workshops, and independent repair shops. An increase in the number of people opting for repair and maintenance services, such as washing and detailing at small workshops, is anticipated to benefit the segment growth.
Car care products with a packaging volume of 1 L – 5 L are usually preferred at medium-scale workshops, washing centers, repair workshops, and service stations that cater to several cars and utilize these products frequently on a daily basis. The growing trend of professional car washing services is expected to boost the growth of the segment.
The above 5 L packaging volume segment is primarily preferred for commercial usage by large level entities, including large service stations, dealerships, company car care centers, and detailing workshops. The growing trend of company-certified car care services as per the car purchase agreements is likely to fuel the growth of this segment.
The less than 250 ml packaging volume segment is primarily used for the storage of small quantities of products, such as polishes, paste-based wax, and interior care products. They offer various advantages such as storage and portability. These types of packages are commonly used for concentrated products, which have to be mixed with liquid solvents to be used for polishing and cleaning
North America dominated the market and accounted for about 38.0% share of the global revenue in 2020. This is attributed to the increasing sales of cars in the region and the growing awareness regarding vehicle maintenance. Moreover, the increasing utilization of mini trucks as family cars and upscaling demand for luxury vehicles is anticipated to create a wide scope for car care products.
The product demand in Europe is expected to witness growth over the forecast period owing to the rapid growth of the automotive industry in the region. Countries such as France, Italy, and Germany are among the significant contributors to the growth of the automobile industry in the region. The growing trend of the restoration of old cars and regular maintenance of the new ones are likely to have a positive impact on the industry growth.
The market in Asia Pacific is expected to expand at the fastest CAGR of 4.8% from 2021 to 2028 owing to the strong growth of the automobile industry in the region due to the presence of several large automakers, such as Suzuki, Toyota, Tata, Honda, and Subaru. In addition, factors such as the growing population and the rising disposable income in developing countries, such as India and South Korea, are expected to drive the automotive industry, thereby driving the product demand.
Counties in Central and South America such as Argentina, Chile, and Brazil have witnessed strong growth in sales of light commercial vehicles (LCVs) and passenger vehicles, which is anticipated to benefit the industry growth. In addition, the trend of owning premium cars in the Middle East countries, such as Saudi Arabia and the United Arab Emirates (UAE), is expected to drive the market in the MEA.
Key Players
- 3M
- Sonax GmbH
- Tetrosyl Ltd.
- Chemical Guys
- Armor All
- Adolf Wurth Group
- MAFRA S.p.A.
- Cartec B.V.
- Turtle Wax
- Liqui Moly GmbH
Market Segmentation
- Product Outlook
- Car Cleaning Products
- Car Polish
- Car Wax
- Wheel & Tire Care Products
- Glass Cleaners
- Interior Care Products
- Others
- Packaging Volume Outlook
- Less than 250 ml
- 251 – 500 ml
- 501 – 999 ml
- 1 L – 5 L
- Above 5 L
- Regional Outlook
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- Central & South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- Iran
- Saudi Arabia
- UAE
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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