How is the global Car Care Products Market shaping up? What role has COVID-19 played in the market?

The report "Car Care Products Market by Product Type (Cleaning and Caring, Polishing and Waxing, Sealing Glaze and Coating), Solvent Type, Application, Consumption, Distribution Channel, and Region - Global Forecast to 2027", is estimated to be USD 11.8 billion in 2019 and is projected to reach USD 16.1 billion by 2027, at a CAGR of 4.0%. Rising disposable income has resulted in an increase in spending capability for most of the end users towards car maintenance. The trend of maintaining a car as it is a part of a personal image is growing across most of the countries in the world. Used cars are a viable option for most of the first-time buyers across the globe and these users are a potential consumers of car care products. Increase in government mandates to protect the environment and the growth in overall sales volume of cars have immensely contributed to the growth of the car care products market.

Cleaning and Caring Products segment is expected to be the fastest growing segment and will continue to grow till 2027

Car cleaning shampoos that will remove the dirt and grim without removing sealants or wax protection are the major products under this segment. The segment is mainly driven by interior and exterior cleaning, shampoos, upholstery cleaning, floor mats etc. New product ranges with new types of chemical compositions and solvents are being introduced by companies to cater to the demands of the consumers. The products in this segment are mainly driven by their multipurpose applications. They are user-friendly products at competitive price ranges.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=77542384

Water-based solvents are expected to lead the market globally

There has been an increasing adoption of water-based solvents because of their low cost. These products are biodegradable and environmentally friendly. In Europe, there has been government laws and regulations like preserving water, less use of hazardous chemicals in manufacturing car care products.

Asia Pacific is the largest market for car care products followed by North America

Chinese economy growth is stable and transition towards spending money to maintain cars is rising and will continue further till next decade. There has been growth in premium car sales in Indian market for past few years. Other Asian countries such as Japan and Korea are showcasing promising growth for the years 2017-2018 and this trend is expected to continue till 2027. The Asian market is the major market for the European and North American car care products manufacturers.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=77542384

Key Market Players:

The car care products market is dominated by 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), Armored Group (USA), Automagic (USA), Bullsone (South Korea), Jopasu Systems Pvt Ltd (India) and Guangzhou Biabong Car Care Industries Co. Ltd. (China).

Key Questions addressed by the report

• What are the key market trends impacting the growth of the market?
• What are the types and applications of car care products? What is the market share of each type and application: price, market size (sales), market share?
• Manufacturing plants distribution analysis, industry chain structure analysis
• What are the key factors driving the global car care products industry?
• What are the market opportunities and threats faced by the vendors in the car care products industry?
• What are the challenges to the growth of the market?

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/car-care-product-market-77542384.html

Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

MarketsandMarketsâ„¢ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of globalFortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarketsâ„¢ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarketsâ„¢ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarketsâ„¢ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarketsâ„¢ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets'sâ„¢ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.