Car Care Products Market

Market Leaders - Car Care Products Market

The global car care products market is projected to grow from a market size of USD 11.8 billion in 2019 to USD 16.1 billion in 2027 at a CAGR of 4.0% during the period (2019−2027). Factors such as significant increase in the new car sales, consumer awareness towards car care, and considerable number of old vehicles plying on the roads are surging the demand for high quality car wash and car care products. The increasing per capita income of the people enables them to afford cars and car care facilities.

Advancements in chemical technologies and the regulations regarding the use of hazardous solvents has resulted in the growth of water-based car care products (shampoos, polishes, wax etc.) in the market. Advancements in the car washing technologies such as tunnel vision, in-bay and automatic car washes are improving the wash performances and are also enhancing the customer experience. The demand for products for cleaning and caring, polishing, and waxing the interior body parts of cars (such as dashboard, windows, door panels, and roof structure) is on the rise

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Cleaning and Caring is expected to be the leading product segment with the highest sales revenue and is expected to continue to grow till 2027. Cleaning (snow foams, dryers and blowers, shampoos, wash kits etc.) and caring products (sealant, ceramic coating, exterior trim, paint protection film etc.) are expected to dominate the car care products market globally during the forecast period 2019−2027. The products are used for both interior and exterior applications. Factors such as the changing consumer preferences and the introduction of new types of washes, polishes, solvents, etc., at competitive pricing are expected to drive this product category. Many leading manufacturers are developing waterless products that will evaporate after the application on the exterior or interior car body surface.  The segment is driven mainly due to factors like ease of use and environmentally friendly products. Several products provide multiple benefits such as anticorrosion, protection from surface pitting, ensuring long lasting protection, and cleaning benefits.

Polishing and Waxing (backing plates, polishers and buffers, pads, polish and compounds, wet standing, metal and chrome, polish kits, spray wax, etc.) is expected to be the fastest growing segment in the global market during the forecast period 2019−2027. The category is growing because of the increasing usage of chrome finishes on the exterior car body (grill, muffler, mirror etc.) and interior car body (gear knob, dashboard, A/C vents etc.). Advancements in technology and chemical composition are supporting the growth of this product category. For instance, polish and wax products are helping to restore the paint and eliminate scratches, stone chips, swirl marks, water spots, and etching. These products are specifically used for old cars above 2−3 years.

Related Reports:

Car Care Products Market by Product Type (Cleaning and Caring, Polishing and Waxing, Sealing Glaze and Coating), Solvent Type, Application, Consumption, Distribution Channel, and Region - Global Forecast to 2027

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Report Code
AT 7197
RI Published ON
6/27/2019
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