Car Care Products Market Expected to Grow at CAGR 4.10% During 2020 to 2028

Reports And Data

Reports And Data

Car Care Products market was valued at USD 10.32 Billion in 2020 & expected to reach USD 14.26 Billion by year 2028, at CAGR of 4.10% CAGR during forecast 2028

NEW YORK, NY, UNITED STATE, November 16, 2021 /EINPresswire.com/ — The Car Care Products market was valued at USD 13.2 billion in 2020 and is expected to reach USD 19.06 billion by year 2028, at a CAGR of 6.3% CAGR during the forecast period (from 2020 – 2028). The rising demand for high-performance chemical products which are used for long-lasting durability and quality of cars. Old vehicles and the declining trend of replacement of vehicles also support the growth of the market. The car care products market is majorly driven by the growing security and safety needs.

The development of the car care products market is into a growing phase owing to the advancement of the technology in vehicle washing techniques. The growing disposable income in key geographies enables customers to buy these products. Partnerships between manufacturers of car care products and company-authorized service centers will deliver efficient end-to-end solutions to the end customers. Increasing awareness amongst the customers of the advantages of the market boosting the growth of the market.

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As car care products are used to maintain the varnish of the vehicle body or to remove dirt from vehicles’ parts, the main hazardous components in the car care product are tensides, solvents, bases and acids, and several types of additives. The most commonly used solvents in car care products seem to be mineral oil distillates (Naptha; heavy, medium, and or light fractions), which are likely (contain substances which can) to cause cancer or gene mutations. Many of these naphtha solvents may also result into aspiration hazards. This implies substances may enter the lower respiratory system directly through mouth or nose and might cause severe pulmonary damage or inflammations. Other few substances in car care products (mostly different types of alcohols) likely to cause corrosion or irritation of the skin and severe damage to eyes. This might restrain the growth of traditional car care product and might result in developing less hazardous car care products

Asia Pacific region is anticipated to hold the major share in the market over the forecast period. From the last decade, the automotive industry in the region has undergone a significant transformation. The region is taking a major share of global automobile sales and is the only major market anticipated to witness strong growth during the forecast period. These developments are likely to fuel the growth of the market in the region.

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Further key findings from the report suggest-

Manufacturers of cleaning products are innovating the entire product line. One of the major trends in the system is bio-based cleaning products. In bio-based cleaning products, manufacturers have replaced fossil-based ingredients with bio-based ingredients like enzymes or plant oil
Cleaning products segment are projected to be the leading segment of the overall car care product market during the forecast period
Sustainability trend has taken priority over the last few years. ~80% of all ingredients found in car care products launched in North America claimed to be green solutions like plant-based and biodegradable products.
The increasing need for environmentally friendly and waterless/no-rinse products owing to growing environmental concerns and restrictions
Demand for the water-based solvent is increasing due to several reasons like several countries around the globe are facing the issue of water shortage, and hence governments are imposing rules and regulations towards the usage of water. Also, in multiple cases, the customer does not require water to clean the surface after the application of water-based solvents, but it can be wiped off the surface of the vehicle with a dry cloth
Many companies like 3M (USA), Illinois Tool works (USA), Autoglym (UK), Sonax (Germany), Würth Group (Germany), Soft99 Corporation (Japan), Tetrosyl (UK), Simoniz USA (USA), Turtle Wax (USA), Liqui Moly (Germany), Northern Labs (USA), and others are operating in the marketplace

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For the purpose of this study, Reports and Data have segmented the industry by Product, by Component Material, by Distribution Channel, by Solvent, by Application Area, and by Region:

Car Care Products by Product (Revenue, USD Million; 2016–2026)

Cleaning and Caring
Polishing and Waxing
Sealing glaze and coating
Protection
Ice Scrappers
Other

Car Care Products by Component Material (Revenue, USD Million; 2016–2026)

Glass
Rubber
Leather
Metal Bodies
Other

Car Care Products by Distribution Channel (Revenue, USD Million; 2016–2026)

Online
Brick and Mortar
Auto Beauty Shops
Service Centres and Garages
Super and Hyper Markets
Company Authorised Shops

Car Care Products by Solvent (Revenue, USD Million; 2016–2026)

Water-based Solvents
Foam-based Solvents

Car Care Products by Application Area (Revenue, USD Million; 2016–2026)

Interior
Seat
Dashboard
Windows, glass, mirrors
Other
Exterior
Bumper
Bodywork
Tyres and Rims
Windows, glass, mirrors
Other

Car Care Products by Region (Revenue, USD Million; 2016–2026)

North America
US
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Benelux
Rest of the Europe
Asia Pacific
China
India
Japan
South Korea
Singapore
Rest of Asia-Pacific
Middle East and Africa
Latin America
Brazil
Argentina
Rest of Latin America

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Table of Content:

Chapter 1. Car Care Products Segmentation & Impact Analysis
1.1. Car Care Products Segmentation Analysis
1.2. Car Care Products Market Value Chain Analysis, 2016-2026
1.3. Regulatory Framework
1.4. Car Care Products Market Impact Analysis
1.4.1. Market Driver Analysis
1.4.1.1. Increasing Customer awareness towards vehicles cleanliness and maintenance
1.4.1.2. Easy availability of water based solvents Market Restraint Analysis
1.4.1.3. Increasing Disposable Income
1.5. Key Opportunities Prioritized
1.6. Car Care Products Pricing Analysis
1.7. Industry Analysis – Porter’s
1.8. Car Care Products PESTEL Analysis
Chapter 2. Car Care Products Market By Product Insights & Trends
2.1. Car Care Products: Product Dynamics & Market Share, 2018 & 2026
2.2. Cleaning and Caring
2.2.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.2.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
2.3. Polishing and Waxing
2.3.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.3.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
2.4. Sealing Glaze and Coating
2.4.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.4.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
2.5. Protection
2.5.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.5.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
2.6. Ice Scrappers
2.6.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.6.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
2.7. Others
2.7.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
2.7.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
Chapter 3. Car Care Products Market By Component Material Insights & Trends
3.1. Car Care Products Component Material Dynamics & Market Share, 2018 & 2026
3.2. Glass
3.2.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
3.2.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
3.3. Rubber
3.3.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
3.3.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
3.4. Leather
3.4.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
3.4.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
3.5. Metal Bodies
3.5.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
3.5.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)
3.6. Others
3.6.1. Market Estimates And Forecast, 2016 – 2026 (USD Million)
3.6.2. Market Estimates And Forecast, By Region, 2016 – 2026 (USD Million)…

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Source: EIN Presswire