Car Care Products Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Mar 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Car Care Products market size is expected to be worth around US$ 24.48 billion by 2030, according to a new report by Vision Research Reports.

The global Car Care Products market size was valued at US$ 10.36 billion in 2020 and is anticipated to grow at a CAGR of 4.8% during forecast period 2021 to 2030.

Growth Factors

The increasing awareness among customers regarding the maintenance of cars to increase their life is expected to drive the market over the forecast period.

The market for car care products is expected to grow significantly owing to the advancements in car washing technologies. Several modern technologies such as in-bay automatic car washing systems and tunnel automatic car washing systems are used in large service centers and professional car washing facilities, which require minimal human effort, leading to a significant reduction in car washing time.

The market was severely impacted by the pandemic situation, where the lockdown has resulted in a decline in the sales of car care products on both the individual and commercial front. In addition, the economic crisis caused by the pandemic situation is expected to have an adverse effect on disposable income, consequently resulting in a decline in the sales of car care products.

Key players such as 3M Company, Inc.; The Clorox Company; and Valvoline Inc. are acquiring the production facilities or divisions of smaller players as a part of their strategies to enhance their scope of operations and provide better services to clients. The companies operate in multiple locations across Europe, North America, and Asia Pacific with global expansion plans.

Report Highlights

Car cleaning products led the market and accounted for above 31.0% share of the global revenue in 2020. This is attributed to the wide usage of shampoo and detergent for the cleaning of the exterior metal surface of the cars. These products safely remove dirt, grease, oil stains, and other contaminants from the vehicle body. In addition, the increasing demand for waterless dry wash products because of the rising environmental concerns is expected to drive the segment.

The car wax segment is expected to be driven by its wide usage for the protection of the exterior surface of the vehicle from stains & smudges. They are specially formulated to fill minor scratches and add shine to the vehicle. In addition, the product helps to reduce the regular repair and refinishing cost of surfaces, thus driving the segment. The commonly used types are carnauba wax and beeswax.

Interior care products are expected to expand at a CAGR of 3.3% over the forecast period on account of the rising awareness among vehicle owners regarding the maintenance of interiors. They help in the deep cleaning of interiors by wiping away residues, dirt, and grime that build upon the surfaces of the interior body without affecting the texture of the interior material.

Wheel and tire care products are important for the maintenance of wheels and tires and elongating their lifetimes. These cleaners are mostly non-acidic and water-based so that they can be used for all the wheel types without spotting. These cleaners dissolve road grime, grease, and brake dust and protect the tires and wheels from long-term damage. Common wheel cleaners include degreasers, surfactants, and metal chelators.

Car care products with a packaging volume of 501 - 999 ml led the market and accounted for about 39.0% share of the global revenue in 2020. This is because this range is a preferred option among individuals, small workshops, and independent repair shops. An increase in the number of people opting for repair and maintenance services, such as washing and detailing at small workshops, is anticipated to benefit the segment growth.

Car care products with a packaging volume of 1 L - 5 L are usually preferred at medium-scale workshops, washing centers, repair workshops, and service stations that cater to several cars and utilize these products frequently on a daily basis. The growing trend of professional car washing services is expected to boost the growth of the segment.

The above 5 L packaging volume segment is primarily preferred for commercial usage by large level entities, including large service stations, dealerships, company car care centers, and detailing workshops. The growing trend of company-certified car care services as per the car purchase agreements is likely to fuel the growth of this segment.

The less than 250 ml packaging volume segment is primarily used for the storage of small quantities of products, such as polishes, paste-based wax, and interior care products. They offer various advantages such as storage and portability. These types of packages are commonly used for concentrated products, which have to be mixed with liquid solvents to be used for polishing and cleaning

North America dominated the market and accounted for about 38.0% share of the global revenue in 2020. This is attributed to the increasing sales of cars in the region and the growing awareness regarding vehicle maintenance. Moreover, the increasing utilization of mini trucks as family cars and upscaling demand for luxury vehicles is anticipated to create a wide scope for car care products.

The product demand in Europe is expected to witness growth over the forecast period owing to the rapid growth of the automotive industry in the region. Countries such as France, Italy, and Germany are among the significant contributors to the growth of the automobile industry in the region. The growing trend of the restoration of old cars and regular maintenance of the new ones are likely to have a positive impact on the industry growth.

The market in Asia Pacific is expected to expand at the fastest CAGR of 4.8% from 2021 to 2028 owing to the strong growth of the automobile industry in the region due to the presence of several large automakers, such as Suzuki, Toyota, Tata, Honda, and Subaru. In addition, factors such as the growing population and the rising disposable income in developing countries, such as India and South Korea, are expected to drive the automotive industry, thereby driving the product demand.

Counties in Central and South America such as Argentina, Chile, and Brazil have witnessed strong growth in sales of light commercial vehicles (LCVs) and passenger vehicles, which is anticipated to benefit the industry growth. In addition, the trend of owning premium cars in the Middle East countries, such as Saudi Arabia and the United Arab Emirates (UAE), is expected to drive the market in the MEA.

Key Players

  • 3M

  • Sonax GmbH

  • Tetrosyl Ltd.

  • Chemical Guys

  • Armor All

  • Adolf Wurth Group

  • MAFRA S.p.A.

  • Cartec B.V.

  • Turtle Wax

  • Liqui Moly GmbH

Market Segmentation

  • Product Outlook 

    • Car Cleaning Products

    • Car Polish

    • Car Wax

    • Wheel & Tire Care Products

    • Glass Cleaners

    • Interior Care Products

    • Others

  • Packaging Volume Outlook 

    • Less than 250 ml

    • 251 - 500 ml

    • 501 - 999 ml

    • 1 L - 5 L

    • Above 5 L

  • Regional Outlook

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

      • Netherlands

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • Indonesia

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

      • Chile

    • Middle East & Africa

      • Iran

      • Saudi Arabia

      • UAE

The Car Care Products market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Car Care Products market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Car Care Products market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Car Care Products market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Car Care Products market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Car Care Products capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Car Care Products by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Car Care Products market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Car Care Products market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Car Care Products market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Car Care Products industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Car Care Products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Car Care Products market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Car Care Products market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Car Care Products market. These factors have benefited the growth of the global market for Car Care Products. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Car Care Products. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Car Care Products are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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