Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Car Care Products Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global car care products market.
The global car care products market is expected to grow from $9.04 billion in 2021 to $9.49 billion in 2022 at a compound annual growth rate (CAGR) of 4.92%. The car care products market is expected to reach $12.47 billion in 2026 at a CAGR of 7.06%.
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Major players in the car care products market are 3M Company, Illinois Tool Works Inc, Simoniz USA Inc, SOFT99 Corporation, Sonax GmbH, Tetrosyl Ltd, Turtle Wax, Liqui Moly GmbH, Chemical Guys, BULLSONE Co.Ltd, Jopasu India Pvt. Ltd, Cartec B.V., Armored Auto Group, MAFRA S.p.A, Wurth Group, Northern Labs, Auto Magic, Formula 1 Wax, and Guangzhou Biaobang.
The car care products market consists of the sale of car care products by entities (organizations, sole traders, and partnerships) that 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.
The main types of car care products include car cleaning products, car polish, car wax, wheel and tire care products, glass cleaners, and others. The car cleaning products are the products that are used to clean the car exterior either by an automated process or manually using cleaning accessories. Both water-based and foam-based car care products are used for external and internal cleaning of cars, and they are distributed through DIY/retail stores and DIFM/service centres.
North America was the largest region in the car care products market in 2021. 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 and Africa.
The rising sales of used cars are expected to propel the growth of the car care products market during the forecast period. Used cars are cars that had been preowned by one or more than one user in the past.
The demand for used cars is rising due to an increase in a shift in preferences among middle-class people to buy used cars over the new cars due to various factors such as low-cost, immediate purchase, and others. However, these vehicles are vulnerable to pollutants and require constant care to maintain the vehicle for a longer tenure.
For instance, according to an Autocar India report, the used car sector in India maintained 3.8 million units in FY2021, which is 1.5 times higher than the 2.6-million-unit new car market. Furthermore, according to the China Daily report, In China total of 1.53 million used cars was sold in June 2021 which is a 17.76% growth from the previous year. Therefore, the rising sale of used cars is expected to propel the growth of the car care products market.
Anti-microbial car care products are a key trend gaining popularity in the car care products market. The anti-microbial car care products help drivers and passengers of a vehicle to protect themselves from various diseases and health issues caused by bacterial infection.
Thus, car care product manufacturers are accelerating the development of anti-microbial car care products to meet customer demand and strengthen their business presence across the globe.
For instance, in December 2020, Turtle Wax, an American manufacturer of automotive appearance products launched a revolutionary cleaner and disinfectant for car interiors named Byotrol24, a cleaner and disinfectant with 24-hour surface sanitizing action that can disinfect over 99.9% of germs including cold and flu viruses, respiratory syncytial virus, rotavirus and norovirus, and even coronavirus.
Furthermore, in October 2021, Permagard, international paint protection, and car care brand launched antimicrobial shield treatment, the latest germ-killing technology for cars that kills 99.99% of germs on contact and is used in confined environments such as cabins and cockpits.
The countries covered in the car care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $9.49 billion |
| Forecasted Market Value (USD) by 2026 | $12.47 billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Car Care Products Market Characteristics
3. Car Care Products Market Trends And Strategies
4. Impact Of COVID-19 On Car Care Products
5. Car Care Products Market Size And Growth
5.1. Global Car Care Products Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Car Care Products Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Car Care Products Market Segmentation
6.1. Global Car Care Products Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Car Cleaning Products
- Car Polish
- Car Wax
- Wheel and Tire Care Products
- Glass Cleaners
- Others
6.2. Global Car Care Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- DIY/Retail Stores
- DIFM/Service Centers
6.3. Global Car Care Products Market, Segmentation By Solvent Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Water Based
- Foam Based
6.4. Global Car Care Products Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Interior
- Exterior
7. Car Care Products Market Regional And Country Analysis
7.1. Global Car Care Products Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Car Care Products Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/tbmnmu
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