Global Car Care Products Market Size 2024, Forecast To 2033
11 Mar, 2024
The car care products market size has grown strongly in recent years. It will grow from $12.48 billion in 2023 to $13.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to surge in passenger vehicles, rise in disposable income, strong economic growth in emerging markets, and rapid urbanization. The car care products market size is expected to see strong growth in the next few years. It will grow to $17.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing automotive industry, rising car detailing businesses, increasing sales of used cars, and rapid growth in e-commerce. Major trends in the forecast period include companies accelerating the development of anti-microbial car care products, developing products with advanced technology, introducing steam cleaning methods, accelerating innovation in car care products, and undergoing partnerships to develop new products.
Global Car Care Products Market Key Driver
The projected surge in the sales of used cars is anticipated to drive the car care products market in the forecast period. Used cars, having been previously owned by one or more users, are gaining popularity among the middle class, driven by factors like affordability, immediate availability, and others. With a growing preference for used cars, there is an increased need for constant care to counteract the impact of pollutants and ensure prolonged vehicle lifespan. Notably, in FY2021, the used car sector in India boasted 3.8 million units, surpassing the new car market of 2.6 million units by 1.5 times, as reported by Autocar India. Furthermore, in China, June 2021 saw the sale of 1.53 million used cars, reflecting a 17.76% growth from the previous year, according to the China Daily report. This upward trend in used car sales is poised to propel the car care products market, a trajectory expected to persist in 2023, 2024, and 2028.
Get A Free Sample Of The Global Car Care Products Market ReportGlobal Car Care Products Market Segments
The car care products market covered in this report is segmented –
1) By Product Type: Car Cleaning Products, Car Polish, Car Wax, Wheel And Tire Care Products, Glass Cleaners, Other Product Types
2) By Application: Interior, Exterior
3) By Distribution Channel: Online, Offline
4) By Solvent Type: Water-Based, Foam-Based
By Geography:The regions covered in the car care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the car care products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car care products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Car Care Products Industry Players
3M Company, Wurth Group, Illinois Tool Works Inc, Tetrosyl Ltd, Armor All, Sonax GmbH, Turtle Wax Inc, Chemical Guys, Autoglym, Simoniz USA, Shining Carz Private Limited, A.J. Industries, Amfos International, JMD International, UE Autotech (I) Private Limited, S.K.Group Of Marketing, Linyi Xingguan Technology Co. Ltd, Dongguan Power Eagle Lubricant Technology Ltd, Guangzhou Veslee Chemical Co. Ltd, Shanghai Huaqi Industrial Co. Ltd, Zhongshan Michel Chemicel Co. Ltd, Zhongshan Tekoro Car Care Industry Co Ltd, Hebei Fangke New Material Technology Co Ltd, Halfords, Axle Group Holdings, Liqui Moly GmbH, MA-FRA, SCT-Vertriebs GmbH, Autoland Car Care, Cartec BV, Amtra, Lavr Auto Chemicals, Grassmart LLC, Toshiba Corporation, Maxim Integrated, Analog Devices Inc, Infineon Technologies AG, ON Semiconductor, Alloy Products, Rohm Semiconductor, Amazing Goop, STMicroelectronics, Renesas Electronics Corporation, NXP Semiconductors, Formula 1 Wax, Auto Magic, MaFra International, Armored Auto Group, Bullsone, Liqui Moly, Ditec Middle East Auto Care, Majestic Car Care, Enzo Car Care, BlueTeam Car Services, Alba Royal Care, Soft 99 Corporation, TurtleWax South Africa, Crazy Detailer, EZ Car Care, Keizin Automotive, Meguiars, ProTouch Car Care.
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Car Care Products Market Overview
The car care products refer to high-quality chemicals, which are used to prevent and fix damages to cars such as for scratches to ensure that utmost care is provided to each part of the car and to retain the visual appeal of the car. These products are used to attain better shine, gloss, and longevity of various exterior and interior parts of cars.
Car Care Products Global Market Report 2023 provides data on the global car care products market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The car care products market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.