Car Care Products Market Size

Car Care Products Market Size

Car Care Products Market size surpassed USD 11.6 billion in 2020 and will grow at a CAGR of 2.6% between 2021 and 2027. Rising inclination toward routine car maintenance will bolster the industry growth.

Car care products include a variety of chemicals and associated accessories used to clean interior and exterior components to enhance vehicle aesthetics. These products consist of car shampoo, car foam, car wax, car polish, glaze, microfiber cloth, brush, ice scrapper, etc. They significantly improve the appearance of cars and offer superior experience to passengers & drivers.

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Increasing importance and rising awareness regarding regular car maintenance of vehicles will drive the car care products market demand. Improvement in car appearance, reduction in major breakdowns, and superior vehicle performance are some of the key reasons behind the rising importance of vehicle maintenance in recent times. Regular maintenance helps in maintaining vehicles’ efficiency for a long period of time. Additionally, it can significantly mitigate the risk of costly repairs in the future.

Rising population, increasing disposable income, and changing customer demographics will positively influence the car sales in the upcoming years. New vehicle owners display more proactiveness toward regular cleaning and maintenance of vehicle. The necessity to avoid costly repairs in future will influence the car maintenance activities paradigm. These maintenance activities will significantly aid in improving higher resale value for a car.

The coronavirus pandemic has hugely affected many industry verticals due to temporary lockdown measures. This has created a tremendous strain on the automotive sector while sending shockwaves through the supply-demand dynamics. The automotive service sector also felt the negative implications of lockdown as most of the transportation activities were halted. Moreover, the lockdown led to the temporary shutdown of car wash & auto detailing facilities. This has generated significant loss for the automotive service sector during the past few months, however, the market will gain momentum in 2021 as the COVID-19 situation normalizes.