According to the latest report by IMARC Group, titled "Car Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global car care products market reached US$ 10.4 Billion in 2021. Car care products include multiple product variants that are generally used for the maintenance and cleaning of vehicles. It comprises lubricants, compounds, polishes, cleaning supplies, acrylic foam, wire harness tape, roof stiffener, finishing glazes, and buffing pads. Since these products aid in protecting automobiles from sun rays and airborne contaminants as well as restoring the shine of vehicles, there has been a considerable rise in the adoption of various car care products. Also, the easy availability of diversified product variants via online and offline organized retail channels is providing an impetus to the market growth.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Car Care Products Market Trends:
The global market is primarily driven by increasing automotive sales. This is supported by the growing need for easy commutation, along with the inflating disposable income level of the masses. Along with this, the escalating number of automobile variants is creating a positive market outlook across the globe. Furthermore, the introduction of eco-friendly car care products due to an enhanced focus on sustainable development among the masses is contributing to the market. Additionally, several players are heavily investing in the deployment of home-based professional car washing services across multiple countries, due to which car care products are gaining widespread prominence among individuals. Other factors, including the rising number of car service centers and the development of aggressive marketing strategies and celebrity endorsements, are also positively influencing the market. On account of the aforementioned factors, the market is projected to reach a value of US$ 12.9 Billion by 2027, exhibiting a CAGR of 3.6% during 2022-2027.
- On the basis of the product type, the market has been segregated into car cleaning products, car polish, car wax, wheel and tire care products, glass cleaners and others.
- Based on the application, the market has been bifurcated into the interior and exterior.
- On the basis of the distribution channel, the market has been segmented into DIY/retail stores and DIFM/service centers.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 3M Company, Adolf Würth GmbH & Co. KG, Autoglym (The Altro Group plc), BULLSONE Co.Ltd, Illinois Tool Works Inc., Jopasu India Pvt. Ltd., Simoniz USA Inc., SOFT99 Corporation, Sonax GmbH, Tetrosyl Ltd. and Turtle Wax.
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