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The Global Car Care Products Market size is expected to reach $9.4 billion by 2028, rising at a market growth of 3.9% CAGR during the forecast period
The car care market has been one of the most dynamically developing industries for many years, including car maintenance and ready-made preparations for removing dirt from vehicles and components.
New York, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Car Care Products Market Size, Share & Industry Trends Analysis Report By Solvent, By Application, By Product Type, By Vehicle Type, By Distribution Channel, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412017/?utm_source=GNW
Active agents and additives are utilized to make professional car cleaning and care detergents and various other products.
Products that can be addressed as a car care product are shampoo, a cleaning agent for the car’s exterior and generally used with sponge and water; varnish cleaner & polishes, which are products utilized to polish and repair weathered car varnish. They contain sanding materials and sometimes in combination with waxes and are generally used with either polishing machines or hand pads.
Hard waxes are products that are used to conserve varnish surfaces. Hard waxes are generally applied using a soft cloth after polishing and cleaning the varnishes; window cleaner is the cleaning agent which is either directly utilized on the windshield and other car windows or is filled into the wiping water for the windshield; Rim or wheel cleaners are used on the wheels & rims and are different for different rim materials for instance coated rim, or aluminum rims require specific cleaners. Cockpit spray is used in the car’s interior to cleanse the plastic and other cabin materials.
COVID-19 Impact Analysis
The COVID-19 pandemic majorly impacted the automotive industry globally, which caused a considerable drop in the sales of automobiles, insufficient raw materials, and caused many other effects. Many small as well as large players in the automotive industry witnessed issues like the declined production activities and mandatory manufacturing & sales outlets’ closure due to the restrictions imposed by governments of affected nations. As a result, the production and sales of cars and car care products also suffered negatively due to the world’s economic ecosystem.
Market Growth Factors
Increasing Awareness VIA Various Social Media and E-Commerce Platforms
E-commerce platforms are increasing the awareness and popularity of the car care business, enabling the industry to sell its goods and services online. With the ability of social media to influence people and their thinking, many products are getting more recognized. With the rise of e-commerce platforms and people valuing comfort, there is an increment in the consumer demand for car care products, primarily through online platforms. Furthermore, the availability of almost every product, their different varieties, and the added discounts & offers are also luring more consumers to the market.
Increasing Disposable Income
There is a rise in disposable income, which has increased the spending capability of individuals towards maintaining their car by utilizing numerous car care products. These products have many benefits ranging from maintenance of the car’s exterior and interior to changing its aesthetic appearance. The market’s growth is also due to the numerous technological advancements in car washing techniques. Consumers are now able to afford these newer technologies and enhanced products with the increasing disposable income in many nations.
Market Restraining Factors
Presence of Harmful Chemicals & Substances in Car Care Products
Car care products may contain hazardous substances that can cause unwanted effects on the environment and even on the users’ health. As car care products are either used to remove dirt from various places of the car or to varnish the vehicle’s body, the primary hazardous ingredient is solvents, tensides, acids & bases, and additives of multiple types. Some dangerous substances are unavoidable in car care products as, even the most advanced products may still contain some irritation-causing substances.
Solvent Outlook
Based on solvent, the car care products market is partitioned into water-based solvents and foam-based solvents. The foam-based segment recorded a substantial revenue share in the car care products market in 2021. This is because they are designed to soften the dirt on the user’s car, which is hard to attain with other products for easy removal. Also, they are known to leave no marks behind, like other car washing solutions after drying. The ability to make car washing more manageable with foam-based solvents and various other benefits provided by them will boost the segment in the projected period.
Application Outlook
Based on application, the car care products market is segmented into interior and exterior. The interior segment procured the largest revenue share in the car care products market in 2021. The growth is attributed to the usage of interior products for cleaning the inner surface of the car, like leather, vinyl, natural fibers, carbon fibers, plastics, and plastic. Various methods are used for cleaning, like vacuuming and steaming, and cleaning of the car windows to provide a better view for the driver.
Product Type Outlook
Based on product type, the car care products market is divided into cleaning & washing, polishing & waxing, sealing glaze & coating and others. The polishing & waxing segment covered a prominent revenue share in the car care product market in 2021. This is because of the wide usage of waxes for the protection of the exterior surface of the vehicle. Waxes are present in either paste or liquid form. They are specially formulated to fill minor scratches while adding shine to the vehicle. Applying wax may also reduce the cost of regular refining and repair of the car.
Vehicle Type Outlook
Based on vehicle type, the car care products market is classified into passenger cars and commercial vehicles. The passenger cars segment dominated the car care products market with maximum revenue share in 2021. This is because passenger vehicles carry many individuals at a time, and with an increased number of people, the requirement for frequent car cleaning also rises. Passenger vehicles include taxis, vans, ambulances, etc., and are majorly used to transport people from one place to another.
Distribution Channel Outlook
Based on distribution channel, the car care products market is bifurcated into DIY/retail stores and DIFM/service centers. The DIFM/service centers segment registered a considerable growth rate in the car care products market in 2021. The growth is owing to the usage of fully equipped service stations, professional cleaning service providers, and proper maintenance yards. In addition, many car care product manufacturers have contracts with the service providers to supply their products directly to them.
Regional Outlook
Region wise, the car care products market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region led the car care products market by generating highest largest revenue share in 2021. The growth is attributed to the rising sales of cars and the growing awareness towards the maintenance of vehicles. Moreover, the increasing usage of mini trucks as family cars and the rising demand for luxury vehicles will increase the use of car care products. The rising sales of cars and passenger vehicles equipped with other factors will raise the market for car care products in the region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Illinois Tool Works, Inc., SONAX GmbH, SOFT99 CORPORATION, Simoniz USA, Inc., Jopasu India Pvt. Ltd., Tetrosyl Limited, Turtle Wax, Inc., Bullsone Co., Ltd.
Scope of the Study
Market Segments covered in the Report:
By Solvent
• Water-based
• Foam-based
By Application
• Interior
• Exterior
By Product Type
• Cleaning & Washing
• Polishing & Waxing
• Sealing Glaze & Coating
• Others
By Vehicle Type
• Passenger Cars
• Commercial Vehicles
By Distribution Channel
• DIY/ Retail Stores
• DIFM/ Service Centers
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• 3M Company
• Illinois Tool Works, Inc.
• SONAX GmbH
• SOFT99 CORPORATION
• Simoniz USA, Inc.
• Jopasu India Pvt. Ltd.
• Tetrosyl Limited
• Turtle Wax, Inc.
• Bullsone Co., Ltd.
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Read the full report: https://www.reportlinker.com/p06412017/?utm_source=GNW
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