The global car care products market was valued at USD 13.0 billion in 2022 and it is anticipated to grow further till USD 24.0 billion by 2032, at a CAGR of 6.3% during the forecast period.
Car care products are designed to clean, protect and maintain the appearance of your vehicle. There is a wide range of products available, from those that simply clean the exterior of your car to those that protect the paintwork and help to keep it looking like new.
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The most important thing to remember when using any car care product is to test it on an inconspicuous area first, in order to check that it is compatible with your paintwork. Once you are happy with the results, you can then apply the product to the rest of your car.
Market Trends and Drivers
The car care products market is expected to grow significantly in the coming years. This can be attributed to the growing automotive industry, especially in the Asia-Pacific region. The growing demand for passenger cars and commercial vehicles is expected to drive the market for car care products. In addition, the growing awareness about the importance of maintaining the vehicles in good condition is expected to propel the market growth. Moreover, the development of new and innovative products is expected to provide a significant boost to the market.
Major Players in the Global Car Care Products Market
The key players studied in the report are 3M, Autoglym, ITW Global Brands, LIQUI MOLY GmbH, Simoniz USA, Inc., SOFT99 Corporation, Sonax, Tetrosyl Ltd., Turtle Wax, and Wurth Group among others.
COVID-19 Impact
Globally, the COVID-19 epidemic had a significant influence on the car industry, which in turn caused a sharp decline in auto sales as well as a shortage of raw materials and other things. Numerous small and large participants in the automobile industry are dealing with problems including a suspension of production, forced plant closures by the government, and others. As a result, the global economic ecosystems caused a drop in the manufacturing of automobile care products. However, the entire auto industry, including value chain participants, experienced uncertainty in their individual operations. But, over the past few months, the auto industry has exhibited outstanding resiliency. It has recovered from the economic lows reached in spring 2020 to provide year-over-year growth in new vehicle sales over the past few months in China, Europe, and the US. Similar to how the rigorous lockdowns and social isolation used to stop the virus’s spread in particular areas caused the fastest recovery rates, this is also anticipated to increase demand for the auto care product sector.
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Key Market Segments
By Product Type
- Car Cleaning Products
- Car Polish
- Car Wax
By Package Volume Type
- Less than 250ml
- 251ml – 500ml
- 501ml – 999ml
- More than 1000ml
By Application
- Interior Car Care
- Exterior Car Care
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