Car Care Products Market

Market Leaders - Car Care Products Market

The global car care products market is projected to grow at a CAGR of 4.7% during the forecast period, from an estimated USD 4.2 billion in 2021 to USD 5.5 billion by 2027. Increase in sale of used cars, use of e-commerce platforms by leading players to increase customer base are expected to offer promising future growth of the market for car care products.

Car care products providers are investing in R&D activities to introduce new car care products in the market. For example, in March 2021, Soft99 Corporation launched the Fukupika Wash & Wax Gen.5 and G-Jetta.

Tetrosyl (UK), Illinois Tool Works (US), 3M (US), Sonax Gmbh (Germany), and Wurth Group (Germany). are the prominent players in car care products market. New product development, expansion, acquisition, and partnership strategy have been the most dominating strategy adopted by major players from 2017 to 2021, which helped them to innovate on their offerings and broaden their customer base.

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Tetrosyl is a leader in the car care products market. The company has been serving the auto industry with car care products for more than 50 years, and hence, has a strong positioning in the market. Tetrosyl manufacturers wide product ranges for all segments (exterior, interior, wheels, detailing and perfections, and accessories). The strength of its product portfolio assists the company in serving all the requirements of customers. The company has a strong presence in Europe and North America.

3M is one of the leaders in the market and a diversified global manufacturer, technology innovator, and marketer of a wide variety of products and services. It provides more than seven types of car care products through its “consumer” division. 3M focuses on its product portfolio development by investing in the R&D of new products and technologies. The company invested USD 1.9 billion in 2020 in R&D, which was 5.8% of its total revenue.

Illinois Tool Works is also one of the major players in the market as it offers a wide range of products and services for interior and exterior car care and wheels and tire care products. The company provides various solutions to the car care products market. The company consists of various in-house brands such as Black Magic, Blue Coral, and Slime, among others. Its product portfolio consists of cleaners, wax, car wash, foam car wash, and tire and wheel cleaner.

Related Reports:

Car Care Products Market by Product Type (Cleaning & Washing, Polishing & Waxing, Sealing Glaze & Coating), Application (Interior, Exterior), Consumption, Solvent (Water, Foam-based), Vehicle Type, Distribution Channel & Region - Global Forecast to 2027

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Report Code
AT 7197
RI Published ON
7/14/2021
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