Car Care Solvents Market By Type (Acetone, Mineral Spirits, Toluene, Isopropyl Alcohol, Propylene Glycol, Others), By Application (Interior, Exterior), By End-use (Service Centres and Garages, Personal): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global car care solvent market was valued at $1.1 billion in 2021, and is projected to reach $2.0 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Car care solvents are high-performing chemicals used to enhance the aesthetic appearance of cars and improve durability, shine, aesthetics, and other maintenance factors of cars. They are widely utilized for car cleaning, refinishing, paint restoration, car polishing, and other applications. Some examples of car care solvents include acetone, xylene, toluene, mineral spirits, propylene glycol, and others.
The steadily growing application of a wide range of car care solvents such as acetone, toluene, mineral spirits, and others, for automotive cleaning, paint restoration, car detailing, degreasing, and other applications is the major key market trend. Furthermore, factors such as rise in disposable income coupled with increase in number of authorized and non-authorized service centers in both developed and developing economies where car solvents are widely employed for maintenance and repair-related activities may contribute to the growth of the car care solvent market.
However, health-related disorders associated with the use of car care solvent are expected to hamper the growth of the market during the forecast period.
On the contrary, disposable income of individuals has been increasing considerably across the globe. For instance, according to the Organization for Economic Co-operation and Development (OECD) statistics, the disposable income in OECD countries witnessed a growth of 1.7% in 2021. In addition, according to the China government, China’s per capita disposable income observed an increase of 8.1% in 2021. In addition, increase in trend of vehicle customization has been witnessed, owing to rise in disposable income as car owners are more conscious about the looks and aesthetics of the car. This factor is projected to enhance the demand for car care solvents used in refinishing, car detailing, and other applications; thus, creating lucrative opportunities for the car care solvents market.
The car care solvent market is segmented into type, application, end use, and region. On the basis of type, the market is bifurcated into acetone, mineral spirits, toluene, isopropyl alcohol, propylene glycol, and others. By application, the market is classified into interior, and exterior. Depending on end use, it is fragmented into service centers and garages, and personal. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global car care solvent market profiles leading players that include BASF SE, Car Clean Products NZ Ltd., CRC Industries, DOW INC., Eastman Chemical Company, Exxon Mobil Corporation, INEOS, Kleanstrip, Momar Inc., Recochem Corporation, RelaDyne LLC, Rust-Oleum, Solventis, Sunnyside Corporation, and Solvents & Petroleum Service, Inc. The global car care solvent market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the car care solvents market analysis from 2021 to 2031 to identify the prevailing car care solvents market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the car care solvents market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global car care solvents market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Acetone
Mineral Spirits
Toluene
Isopropyl Alcohol
Propylene Glycol
Others
By End-use
Service Centres and Garages
Personal
By Application
Interior
Exterior
By Region
North America
Canada
Mexico
U.S.
Europe
UK
France
Spain
Germany
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Rust-Oleum
INEOS
Eastman Chemical Company
Penn Tool Co. Inc.
Dow
Knowde Group
sunnyside corporation
MOMAR
Auto-Wares Group of Companies
Exxon Mobil Corporation
Ducan Automotive
Recochem Corporation
Solventis
BASF SE
RelaDyne LLC.
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