Luton, Bedfordshire, United Kingdom, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Car Care Products Market.
Car care products market size was valued at USD 10.31 billion in 2020 and is projected to reach USD 15.05 billion by 2029, growing at a CAGR of 4.3% from 2022 to 2029.
Rapidly growing worldwide automotive sales, rising consumer disposable income, and improvements in car cleaning procedures are projected to boost the car care products market. Car care products are high-performance chemicals intended to increase a vehicle’s luster, gloss, and lifespan. Car care products safeguard and maintain the outside appearance of the vehicle. Many different types of automobile care products are available on the market, including wheel care, interior-exterior care, glass cleaner, paint restoration for older vehicles, and many others.
Rapidly increasing worldwide vehicle sales, a rise in consumer disposable income, and advances in car washing techniques are expected to drive the market over the forecast period. Car care and appearance-enhancing products are often used in luxury cars and sports utility vehicles.
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Industry News:
3M
3M is a diversified American corporation manufacturing a wide range of products, including abrasives, adhesive tape and related products, and consumer-electronics components. It is headquartered in St. Paul, Minnesota.
Turtle Wax
Turtle Wax is an American manufacturer of automotive appearance products The company’s primary product lines include cleaning and polishing products for cars including glass, painted surfaces, uncoated metals, leather, wheels, and tires.
Growth Drivers-
Furthermore, the strong economic growth and the growth of the automotive industry globally increases the demand for automotive care products.
Recent trends, such as bio-based car wash goods such as detergents and soaps, have established an impactful pattern that moulds the product development measures of businesses. The potential of the car care product business is still influenced by ease of use and a relatively low price point. With the latest automotive releases, the car care product market’s network development is expected to build an expanding footprint with a big number of new approaching car dealerships.
Regional outlook- North America has the greatest market for car care products, with the United States leading the way, followed by Canada and Mexico.
North American consumers are more concerned about keeping the appearance of their vehicles. As a result, manufacturers are developing new goods to ensure that customers have access to high-quality, cost-effective car maintenance items. Car owners in the United States are using more car wash and detailing services, which has raised demand for and consumption of car care products. In contrast, in the United States, rules and limits on car washing at home have prompted automobile owners to hire auto beauty shops, service facilities, and garages to preserve the aesthetics of their vehicles.
Product Portfolio: The Company has a product portfolio of Car Care Products Market that includes:
Car Care Products Market: Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Car Care Products Market.
Key players operating the global car care products market includes 3M, Turtle Wax, Illinois Tool Works, Armored AutoGroup, SOFT99, SONAX, Tetrosyl, Northern Labs, Liqui Moly, Simoniz, Autoglym, Botny, Bullsone, BiaoBang, CHIEF, Rainbow, Mothers, Auto Magic.
Car Care Products Market Scope: Discount on report
| Car Care Products Market | |||
| Report Coverage of Car Care Products Market | Details | ||
| Base Year: | 2021 | Forecast Period: | 2022-2029 |
| Historical Data: | 2017 to 2021 | Market Size in 2020: | US$ 10.31 Billion |
| Forecast Period 2022 to 2029 CAGR: | 4.3% | Market Size in 2029: | US$ 15.05 Bn. |
| Key Market Segments: | Product Type |
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| Applications |
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Intended Audience:
- Car Care Products Market companies
- Car Care Products Market providers
- System integrators and third-party vendors
- Government bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
- End-users/enterprise-users
- Managed service providers
- Value-added resellers
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