Car Care Products Market size to exceed $13 Bn by 2027
Published Date: February 26, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Car Care Products Market size is set to cross USD 13 billion by 2027, according to a new research report by Global Market Insights, Inc.
Steady growth of the car wash industry will drive the market demand. The rising number of vehicles on road in conjunction with increasing spending power of customers is the key reason behind the growth of car wash service centers. Most of the customers pay utmost attention toward keeping cars clean and in proper condition. These car washing centers are adopting new technologies, which provide faster service and better cleaning, leading to customer satisfaction. Such growth prospects associated with car wash centers will catapult the car care products market.
Favorable economic conditions, increasing population, and disposable income will lead to the growth in car ownership in near future. Car owners are paying more attention toward car washing and cleaning services. A few customers even opt for professional car detailing services. Regular vehicle cleaning & maintaining aids in improving vehicle safety, prevention of repairs, and enhancement of appearance.
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Rising demand for glossy appearance will propel glaze & coating’s demand
Car care products market from glaze and coating segment is poised to witness more than 1.5% CAGR through 2027. Glaze is used to add an additional layer of gloss and depth to the paint. It is especially used on light colored vehicles and to mask minor imperfections in the paint. It generally contains oil, water, solvent, glycerin, abrasives, fragrance, coloring, and surfactants. It is effective in the removal of buffer swirls and is quick to use. One of the disadvantages of using a glaze is that it may reduce a wax or sealant’s ability to bond to the paint with maximum potential. Coatings act as a sacrificial layer to protect the paint underneath. It is mostly applied panel by panel and has a quick drying ability.
Browse key industry insights spread across 150 pages with 143 market data tables & 23 figures & charts from the report, “Car Care Products Market Size By Product (Wax & Cleaning, Glaze & Coating), By Body Part (Interior, Exterior), By Application (DIY, DIFM), By Distribution Channel (Online, Offline), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Need for comfortable and pleasant driving experience will augment the growth of interior car care products
Interior car cleaning is necessary to protect upholstery, dashboard, etc., from dust and mildew. If the car’s interiors are not regularly cleaned then it may lead to dust accumulation, stain formation, and unpleasant odors. Vacuuming is used to remove dirt from carpets, seats, etc. Specialized carpet steam cleaners are used to remove tough stains from floor mats and cargo area carpeting. Odor eliminator sprays are used to eliminate persistent odors and air fresheners are applied to maintain pleasant smell within the vehicle. Such practices can elevate the driving experience of passengers along with provision of comfort.
The offline segment will grow at a steady pace during 2021-2027
The offline car care products market revenue is likely to hold a significant share and is predicted to reach USD 9.5 billion by 2027. Establishment of partnerships by car care product manufacturers with auto wash centers and service centers will drive the segment demand. Additionally, these channels are offering price discounts and shipping benefits to customers in the wake of rising popularity of online channels.
Strategic partnerships & collaborations to spur the car care product sales
Turtle Wax, Inc., 3M, SONAX GmbH, Tetrosyl Ltd., Ningbo Shinsan Cleaning Products Co., Ltd., Southern Counties Lubricants, LLC, Autoland Car Care, Zhongshan Datian Car Care Industry Inc, Guangzhou Veslee Chemical Science, and Technology Co., Ltd. are some of the key players in the car care products market. These companies are forming an alliance with automotive service providers to strengthen their foothold in the market. In December 2020, Turtle Wax, Inc. launched co-branded car care studios in India. The company has partnered with Roughtaar Automotive to offer a wide range of car detailing services and car care products to customers.