NEW YORK, United States, Feb. 21, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Car Care Products Market By Utilization (Autobeauty Shops, Garages & Service Centers, Individual Sources, and Others), and By Type (Polishing & Waxing, Cleaning & Caring, Coating & Sealing Glaze and Others): Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2021–2028” in its research database.
“According to the latest research study, the demand of global Car Care Products Market size & share was valued at approximately USD 9.2 billion in 2020 and is anticipated to reach around USD 13.7 billion by 2028, at a compound annual growth rate (CAGR) of about 5.8% during the forecast period 2021 to 2028.”
The report explores the car care products market’s drivers and restraints, as well as the impact they have on need during the projection period. In addition, the report analyses emerging opportunities in the car care products market.
Report Overview:
Car care products are high presentation chemicals used to develop shine, durability, and gloss of vehicles. This chemical is protected and retains the visual appeal of vehicles. These are altered types of company of automotive chemicals are available in the market which include protection, wheel care, paint cleaning, tire shine, interior-exterior care, paint restoration, glass cleaner, and others. Car care products and supplies fuel that passion since these remain the chemicals and tools that generate the perfect shine.
The strength of gleaming wheels, towels, car waxes, polishes, cleaners, sealants, sparkling trim, buffer, and sand. Cleaning a car safely and scratch-free includes a proficient process. Though, their application necessity drives hand in hand with the usage of the greatest car care products.
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Market Growth Dynamics:
Car care products protect the vehicle against unintentional accidents, extend the durability & basic quality of the vehicle, and hence boost its resale value. Vehicle aging and a declining trend toward vehicle replacement have also shifted the scales in favor of the car care products market. Newer car care products designed to meet the needs of the most recent vehicles will be in high demand as the younger generation loves polishing their vehicles. Consumers with more disposable income require cars, and the demand to maintain them grows in parallel with their increasing value. As a result, vehicle production is directly proportionate to the emerging market of car care products.
There are however some disadvantages to using particular car care products. Excessive beautifying may potentially ruin the car's exterior. Dents could be caused by using spray nozzles on the car's surface. All of these factors are likely to have a profound impact on the growth of the global car care products market. Chemicals used in car care products are frequently found to be dangerous in nature. As a result, certain government actions may impede the demand and supply for car care products.
The global car care products market is a subset of the automotive aftermarket that provides after-purchase options. With an increasing number of brands and innovations in automobiles, the car care products market will be replenished in the future years. Even if the economy suffers, resulting in fewer vehicle manufacturing and purchase, car care products will still be required to protect older or existing vehicles. While the company that comes from OEM-specific auto service centers is larger than that of the company that currently comes from independent stores, the current players are quite hopeful about future growth.
Recent advancements like bio-based car wash products such as detergents and soaps have generated an influential pattern that shapes manufacturers' product development measures. The ease of use and relatively low price point continue to influence the potential of the global car care products market. With the latest automotive releases, it is expected that the network development of the car care products market will build an expanding footprint with the huge size of new approaching car dealerships.
Key Insights from Primary Research
- As per the analysis shared by our primary respondents, the car care products market is expected to grow yearly at a CAGR of around 5.8%.
- Through primary research, it was established that the car care products market was valued at around USD 9.2 billion and is projected to reach around USD 13.7 billion by 2028.
- On the basis of region, North America will dominate the global market during the forecast period 2021-2028.
- Asia Pacific region is predicted to grow at the quickest CAGR of 4.8%.
Industry Major Market Players
- Chemical Guys
- Cartec B.V.
- Adolf Wurth Group
- Liqui Moly GmbH
- Sonax GmbH
- Armor All
- 3M
- MAFRA S.p.A
- Turtle Wax
- Tetrosyl Ltd.
Key questions answered in this report:
- What is the market size and growth rate forecast for the car care products market?
- What are the main driving factors propelling the car care products market forward?
- What are the leading companies in the car care products industry?
- What segments does the car care products market cover?
- How can I receive a free copy of the car care products market sample report and company profiles?
Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/car-care-products-market
Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 9.2 Billion |
| Projected Market Size in 2028 | USD 13.7 Billion |
| CAGR Growth Rate | 5.8% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2028 |
| Key Market Players | Chemical Guys, Cartec B.V., Adolf Wurth Group, Liqui Moly GmbH, Sonax GmbH, Armor All, 3M, MAFRA S.p.A, Turtle Wax, Tetrosyl Ltd., and Others |
| Key Segment | By Utilization, By Type, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Segmentation Analysis:
The global car care products market is segmented based on utilization, type, and region.
In terms of utilization, the car care products market is bifurcated into individual auto beauty shops, garages & service centers, individual sources, and others. The Auto Beauty Shop offers a high-quality service at an honest price. We know that the prospect of our industry depends upon status, and that’s why consumer service is by far our highest priority.
In terms of type, the car care products market is bifurcated into polishing & waxing, cleaning & caring, coating & sealing glaze, and others. The cleaning & caring type is sub-divided into car shampoo, double-sided sponge, car sponge, rim cleaner, tire shine, plastic care emulsion, rim brush, others.
Car shampoos are the essential cleaning product used for some car owners who are responsive to the hurt that liquid detergents and other cleaners can impose on their vehicles. As per the most regularly used products, several of us are not involved in its contents as extended it offers the desired results. Unintentionally the strength using caustic chemicals that are harmful to the vehicle, the environment, and health. We explain some ingredients that are mostly used in manufacturing car shampoo.
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Recent Development
- November 2021 - Turtle Wax, a car care company established in the United States, stated that e-commerce and conventional retail are reviving, which is fueling its business.
Regional Dominance:
- North America dominates the global market due to rising car sales in the region
North America dominates the global car care products market, accounting for around 38.0 percent. This is due to rising car sales in the region as well as increased awareness about vehicle care. Furthermore, the rising popularity of compact cars as family vehicles and the rising demand for luxury cars is expected to expand the regional car care products market.
The growth of the car care products market in Europe is predicted to rise throughout the projection period as the region's automotive industry expands rapidly. Countries such as Germany, France, and Italy have made substantial contributions to the region's automobile sector expansion. The growing trend of restoring vintage automobiles and maintaining new ones on a regular basis is expected to boost the growth of the global car care products market.
- Asia Pacific region is predicted to grow at the quickest CAGR of 4.8%
The car care products market in the Asia Pacific region is predicted to grow at the quickest CAGR of 4.8%, owing to the region's significant growth in the automobile sector attributed to the presence of several large manufacturers, including Tata, Suzuki, Honda, Toyota, and Subaru. Furthermore, factors such as increased disposable income and growing population in developing nations such as South Korea and India are predicted to fuel the automobile industry, consequently raising the car care products market.
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Key Offerings:
- Market Size, Share & Forecast by Revenue | 2021−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Utilization, by Type, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Browse the full “Car Care Products Market By Utilization (Autobeauty Shops, Garages & Service Centers, Individual Sources, and Others), and By Type (Polishing & Waxing, Cleaning & Caring, Coating & Sealing Glaze and Others): Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2021–2028 Report at https://www.fnfresearch.com/car-care-products-market
This report segments the global car care products market as follows:
Global Car Care Products Market: Utilization Segmentation Analysis
- Auto beauty Shops
- Garages & Service Centers
- Individual Sources
- Others
Global Car Care Products Market: Type Segmentation Analysis
- Polishing & Waxing
- Cleaning & Caring
- Coating & Sealing Glaze
- Others
Global Car Care Products Market: Regional Segmentation Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
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