Car Care Products Market

The study involves four main activities to estimate the current size of the car care products market. Exhaustive secondary research was done to collect information on the market, such as product type and application types. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. Top-down approach was employed to estimate the complete market size for different segments considered under this study. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include international car care organizations and car wash associations; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. The secondary data was collected and analyzed to arrive at the overall market size, which is further validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the scenario of the car care products market through secondary research. Several primary interviews were conducted with market experts from both demand- (auto beauty shops, service centers/garages) and supply-side (car care products manufacturers) across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). Approximately 90% of the primary interviews were conducted with experts from the supply side, and 10% of them were conducted from the demand side. Primary data was collected through questionnaires, emails, and telephonic interviews. In our canvassing of primaries, we strived to cover various departments within organizations, which included sales, operations, and administration, to provide a holistic viewpoint of the car care products industry in our report.

After interacting with industry participants, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the opinions of the in-house subject-matter experts, led us to the findings as described in this report.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down approach was used to estimate and validate the size of the car care product market. In these approaches, the production statistics for passenger cars, LCVs, trucks, and buses at a country and production statistics of BEVs, PHEVs, FCEVs, autonomous vehicles at regional level were considered to estimate the aggregate market of various car care product segments. The research methodology used to estimate the market size includes the following:

• Key players in the car care product market were identified through secondary research, and their global market shares were determined through primary and secondary research.
• The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players as well as interviews with industry experts for detailed market insights.
• All application-level penetration rates, percentage shares, splits, and breakdowns for the market was determined by using secondary sources and verified through primary sources.
• All key macro indicators affecting the revenue growth of the market segments and sub segments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
• The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

The top-down approach was used to estimate and validate the regional size for the car care products market by product type, application, consumption, solvent, vehicle type, distribution channel, and region in terms of value. The global market was derived from supply-side data where we analyzed the annual car care products sales of top companies and international car wash and car care associations, and it was further validated by primary respondents. The regional and country markets were derived by understanding the percentage contribution of each region in the global car care product market and the percentage contribution of each country in their regional car care product market. The percentage share of each application at the country level was derived from secondary sources and was further validated by primary respondents. Further, for the rest of the market segments (product type, solvent, distribution channel, vehicle type, consumption), the percentage share of each segment was derived at the regional level from secondary sources and validated by industry experts. These percentage shares were multiplied with regional-level car care product markets to get the segment-wise car care product market at a regional level.

Car Care Products Market Size: Top-Down Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Bottom-Up Approach

In the bottom-up approach, vehicle production of each vehicle type at the country level was considered. Penetration of each car care product application was derived through model mapping for each vehicle type. The country-level production by vehicle type was then multiplied with the penetration for each application to determine the market size of the car care product market in terms of volume. The country-level market size, in terms of volume, by application, was then multiplied with the country-level average OE Price (AOP) of each car care product application to determine the market size in terms of value for each vehicle type. Summation of the country-level market size for each vehicle type by application, by volume and value, would give the regional-level market size. Further, the summation of the regional markets provided the car care market size. The market size for vehicle type was derived from the global market.

Report Objectives

• To define, describe, and forecast the car care products market in terms of value (USD billion), based on the following segments:
  • By Product Type [cleaning & caring, polishing & waxing, sealing glaze & coating, others]
  • By Application [interior, exterior]
  • By Vehicle Type [passenger cars, light commercial vehicles, heavy commercial vehicles]
  • By End Use [auto beauty shops, service centers & garages, individuals]
  • By Solvent [water-based, foam-based]
  • By Distribution Channel [DIY/retail stores, DIFM (do it for me)/service centers]
  • By Region (North America, Asia Pacific, Europe, and the Rest of the World)
• To analyze the impact of the recession on the market across all regions
• To understand the market dynamics (drivers, restraints, opportunities, and challenges)
• To analyze the market ranking of key players operating in the market
• To analyze recent developments, partnerships, joint ventures, mergers & acquisitions, new product launches, and other activities carried out by key industry players in the market
• To analyze the impact of the recession in terms of the most likely scenario, low-impact, and high-impact scenario
• To conduct a case study analysis, technology analysis, supply chain analysis, trade analysis, market ecosystem analysis, tariff and regulatory landscape analysis, Porter’s Five Forces analysis, and average selling price analysis
• To analyze the market share of key players in the motor lamination market and conduct a revenue analysis of the top five players
• To formulate the competitive leadership mapping of key players in the motor lamination market

Car Waxing & Its impact on Car Care Products Market

The market for automobile care products is directly related to the widespread practise of car waxing, which is used to protect and maintain a car's exterior. Products for cleaning, protecting, and maintaining the appearance of cars are referred to as "car care" products. Products like automotive wax, polish, cleansers, and sealants fall under this category. To protect a vehicle's paint and clear coat from the damaging effects of UV rays, pollution, and other environmental variables, car waxing is a crucial part of automotive maintenance. Car wax creates a barrier over the paint that helps keep dirt, grime, and other contaminants from adhering to the car's surface. This facilitates cleaning of the car and aids in preserving its aesthetic over time.

The car care products market includes a wide range of products designed to assist consumers in protecting and maintaining their vehicles. Car wax is one of the most popular car care products, and there are many different types of wax on the market. Paste wax, liquid wax, and spray wax are some of the most popular types of car wax.

By extending the reach of Car Waxing services, companies are also creating new business opportunities. Companies are using these services to create new products and services and to drive their bottom line.

• Electric and Self-Driving Vehicles: As electric and self-driving vehicles become more prevalent, there may be an increased demand for car wax and other car care products that are specifically designed for these types of vehicles.
• Sustainable Car Care: As consumers become more environmentally conscious, there may be a growing demand for car wax and other car care products that are formulated with sustainable and eco-friendly ingredients.
• Smart Car Care: As the Internet of Things (IoT) continues to evolve, car waxing and other car care products could become smarter and more connected.
• Customizable Car Care: As consumers become more interested in personalization and customization, there may be a growing demand for car wax and other car care products that can be tailored to their specific needs and preferences.

Top Players in Car Waxing Market are Turtle Wax, Inc., Meguiar's Inc., Chemical Guys, Griot's Garage, Inc., P21S, Inc.

Some of the key industries that are going to get impacted because of the growth Car Waxing are,

1. Automotive Aftermarket Industry: The automotive aftermarket industry, which includes companies that produce replacement parts, accessories, and performance upgrades for vehicles, is likely to be impacted by the growing demand for car polishing and waxing products.

2. Car Detailing Industry: The car detailing industry, which offers professional detailing services to car owners, is likely to benefit from the growing popularity of car polishing and waxing.

3. Automotive Paint Industry: The automotive paint industry, which produces the paints and coatings used on cars, is likely to be impacted by the growing demand for car polishing and waxing.

4. Tourism Industry: The tourism industry may also be impacted by the growing popularity of car polishing and waxing, as car owners may be more likely to take road trips and attend car shows and other automotive events to showcase their well-maintained vehicles.

5. Chemicals and Materials: Car waxing involves the use of chemicals and materials that help protect and maintain the appearance of vehicles.

6. Retail and E-commerce: Car waxing and other car care products are often sold through retail channels, both in physical stores and online.

7. Professional Detailing Services: Many consumers choose to have their vehicles professionally detailed, which often involves the use of car wax and other car care products.

Speak to our Analyst today to know more about Car Waxing Market

Available Customizations

Along with the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.

Car Care Products Market, By Product Type, By Country

• North America
• US
• Canada
• Mexico
• Asia Pacific
• China
• Australia
• Japan
• South Korea
• India
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of the World
• Brazil
• Russia