Global Car Care Product Market Overview, 2023-28

Global Car Care Product Market Overview, 2023-28

Car care products are a range of products that are designed and used to clean, maintain, and protect the various surfaces of a car, including the exterior, interior, wheels, and tires. These products are formulated to remove dirt, grime, and stains, as well as to protect the surfaces from environmental factors such as UV rays, water, and pollutants. Car care products include a variety of items such as car wash soaps, polishes, waxes, tire cleaners, interior cleaners, leather conditioners, glass cleaners, and detailing tools. Using car care products can help keep a car looking clean, shiny, and well-maintained, while also helping to protect its value and extend its lifespan. A significant driver for the market is an increase in consumer spending on vehicle maintenance and aesthetics. Furthermore, the availability of automobiles at low prices in the form of used cars has proven to be an important factor for today's users when purchasing vehicles. This, in turn, increases the need for vehicle maintenance, resulting in increased industry demand for car care products. Waxes, polishes, interior and exterior car care products, paint protection, tyre cleaners, and glass cleaners are among the many car care products available on the market. These products serve a variety of purposes and contribute to the overall appearance of the vehicle. Major players in the industry are focused on manufacturing products that can be used by different kinds of vehicles.

According to the research report, ""Global Car Care Products Market Overview, 2023-28,"" published by Bonafide Research, the market is projected to reach a size of more than USD 8 Billion by 2028, up from USD 6.92 Billion in 2022. The market is anticipated to grow at a 4.02% CAGR by 2023–28. With the rising global population and increasing wealth, more people are buying cars. As the number of cars on the road increases, so does the demand for products that help maintain and protect them. People are becoming more aware of the importance of regular car maintenance and are willing to invest in products that can help keep their cars looking and running their best. Also, car detailing has become more popular in recent years, with car enthusiasts and professionals using specialized products and techniques to achieve a high level of cleaning and shine. This has created a growing market for car care products designed specifically for detailing. As consumers become more environmentally conscious, there is a growing demand for eco-friendly car care products that are free from harsh chemicals and are biodegradable. Advances in technology have led to the development of new car care products that are more effective and efficient than ever before. For example, ceramic coatings are now available that can provide long-lasting protection for a car's paint. Furthermore, the global car care products market is benefiting from rising car ownership and a growing awareness of the importance of vehicle maintenance and preservation. As more people buy cars, the demand for car care products grows, and consumers are increasingly willing to invest in high-quality products that can help them protect their investment. Overall, the cleaning and caring segment is expected to continue leading the global car care products market, owing to the on-going demand for products that can assist consumers in maintaining and preserving their vehicles.

Many countries have strict rules and regulations in place for replacing car accessories after their expiration date. For example, the National Highway Traffic Safety Administration (NHTSA) has issued a new regulatory standard requiring car parts such as tyres, rims, seat belts, and others to be originally manufactured and replaced according to the product's life span. As a result, there is an increase in demand for car care products around the world, as they aid in restoring interiors, cleaning the exterior, extending the life, and increasing the value of the vehicle. Such mandates are expected to increase sales of passenger car accessories, contributing to market growth. Furthermore, the growth of aftermarket vehicles is aided by an increase in customer awareness of the importance of adopting safe automobile car care technology. For example, Chemical Guys introduced the HydroInterior as its latest product in advanced ceramic protection for automotive interiors in February 2021. HydroInterior is a versatile interior protectant that combines the ease of use and efficiency of a quick detailer with the long-lasting protective properties of a ceramic to create a product designed to clean, protect, and maintain the interior surfaces of a vehicle. Such advancements in government regulations governing the replacement or upgrading of vehicle components in order to extend the life and value of the vehicle are expected to drive the growth of the car care product market.

The market is expected to grow due to an increase in demand for waterless dry wash products. Car wash and appearance-enhancing products are widely used in automobiles and sports-assisted vehicles. Car polishes and waxes are used to keep them clean and protect them. Furthermore, protectors and cleaners are discarded to maintain the appearance of the vehicle. This practise is expected to drive product demand during the forecast period. Furthermore, these products remove dirt, grease, oil stains, and other contaminants from the car's body in a safe manner. As a result of growing environmental concerns, the market is expected to be driven by rising demand for waterless washing products. Leading manufacturers are currently hosting innovative products, such as powerful degreasers that can remove engine oil and clean dirt from tyres and rims. As a result, the market for such cleaning products is expected to grow over time.

The increased sale of used cars is expected to boost market growth. Used cars are more prone to impurities, which can degrade their appearance and interior work. A car is subjected to road asphalt, tree resin, sand, de-icing agents, gravel, bird guano, and a variety of air pollutants. As a result, there is an increase in demand for products such as trim cleaners, car polish and wax, and rim and tyre cleaners around the world, as these products help to clean the outer body, preserve the interiors of a used car, extend the life of a vehicle, and add value to a used car. Furthermore, used cars are pre-owned vehicles that have had one or more selling owners in the past. The used car market is aided by chaotic players who are individuals rather than organisations, as well as various organised players. In terms of distribution channel, the DIFM/service centres segment is expected to grow significantly in the car care products market by 2021. The use of fully equipped service stations, professional cleaning service providers, and proper maintenance yards has contributed to the growth. Furthermore, many auto care product manufacturers have agreements with service providers to supply their products directly to them. During the forecast period, the online retail segment is expected to grow at the fastest rate. Online retail stores provide a diverse range of products and substantial discounts; additionally, consumers can conveniently purchase desired products remotely. Furthermore, home delivery service draws a large number of customers to e-commerce portals. Furthermore, these websites provide comprehensive product information as well as user feedback, allowing consumers to compare products and make informed decisions.

Covid-19 Impacts:
Globally, the COVID-19 epidemic had a significant impact on the automobile industry, resulting in a sharp decline in auto sales as well as a shortage of raw materials and other items. Numerous small and large automobile industry participants are dealing with issues such as production suspensions, government-forced plant closures, and others. As a result, the global economic ecosystems reduced the production of automobile care products. However, the entire auto industry, including participants in the value chain, faced uncertainty in their individual operations. However, the auto industry has shown remarkable resilience in recent months. It has recovered from the economic lows reached in spring 2020 to provide year-over-year growth in new vehicle sales in China, Europe, and the United States in recent months. This is expected to increase demand for the auto care product sector, similar to how strict lockdowns and social isolation used to stop the virus's spread in specific areas caused the fastest recovery rates.

Major Companies present in the market:
3M, Amtra Group, Armor All, Illinois Tool Works Inc., Autogym, Cartech, Liqui Moly GmBH , MA-FRA S.p.A. , Simoniz USA. , SONAX GmbH

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Car Care Products market with its value and forecast along with its segments
• Region-wise Car Care Products market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America & Middle East & Africa

By Product Type:
• Cleaning & Caring
• Polishing & Waxing
• Sealing Glaze & Coating
• Others

By Application:
• Exterior
• Interior

By Distribution Channel:
• DIY/retail stores
• DIFM (do it for me)/service centers
• E-commerce

By Vehicle Type:
• Passenger Vehicle
• Commercial Vehicle

By Solvent Type:
• Water-based
• Foam-based
By End Use:
• Service centers & garages
• Auto beauty shops
• Individuals

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Car Care Products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.