Car Care Products Market Analysis, Segments, Size, Share, Growth and Recent Trends by Forecast to 2028

Rise in E-Commerce Industry Favor Car Care Products Market Growth

According to our latest study on "Car Care Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, and Distribution Channel," the market is expected to grow from US$ 4,935.01 million in 2022 to US$ 6,730.61 million by 2028; it is estimated to record a CAGR of 5.3% from 2022 to 2028.

Car care products are high-quality chemicals that provide gloss and shine to vehicles for a long term. Car maintenance products protect and heal damages such as scratches, assuring that each part of the vehicle receives the best maintenance while preserving the vehicle's visual appeal. The car care products market has observed extensive developments in the last few decades due to various factors such as the rise in the sales of automotive and used automobiles across the globe. Also, the sales of used automobiles have risen in emerging countries due to their low disposable incomes. The rise in passenger vehicles has led to increased demand for these maintenance goods, driving the car care products market growth.

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Based on product, the car care products market is segmented into cleaning products, polishing & waxing products, fresheners, and others. The fresheners segment held the largest share in 2022, and the polishing & waxing products segment is expected to register the highest CAGR from 2022 to 2028. The demand for fresheners is increasing owing to the growing level of air pollutants, which also results in a rising need for air care products that can be used in vehicles. In addition, the growing demand for sustainable and eco-friendly products coupled with the need for neutralizing odors, odor eliminators, and aromatic compounds are also supporting the growth of the fresheners segment.

Many car care products are used for wheel, interior, exterior, glass, and paint restoration. These products help protect the vehicle and maintain its original quality, thereby increasing its resale value. The demand for car care products is increasing due to growing consumer awareness about maintaining car's appearance and increasing its durability. Moreover, car owners are spending more on maintaining their old and new vehicles, owing to the heavy and unstructured nature of the traffic, which is boosting the need for car care products.

Consumers are highly focused on improving the air quality inside the car, which is creating a massive demand for car air fresheners. Car air fresheners are used by car owners to neutralize odors and release fragrance inside the cars. Many exotic, woody-and fruity-based fragrance options are available in the market that helps create a subtle and calming ambiance inside the car. Further, the emergence of the COVID-19 pandemic has highlighted the importance of sanitizing and disinfecting surfaces, including car's interior and exterior surfaces, and proper cleaning to protect themselves from SARS-CoV-2. As a result, the demand for different car cleaning products is increasing among car owners. Thus, the growing consumer inclination toward car care is driving the global car care products market growth.

3M Co, Adolf Wurth Gmbh & Co KG, Sonax GmBH, Soft99 Corp, Shell Plc, Pidilite Industries Ltd, Holt Lloyd International Ltd, Tetrosyl Ltd, Turtle Wax Inc, and Cartec BV are a few of the few key players operating in the car care products market. These companies have a diverse geographic presence and offer an extensive product range to cater to consumer trends in the car care products market.

Impact of COVID-19 Pandemic on Car Care Products Market

The COVID-19 pandemic affected economies and industries in various countries across the globe. Lockdowns, travel restrictions, and business shutdowns worldwide hampered the growth of several industries, including the consumer goods industry. The shutdown of manufacturing units disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Moreover, the bans imposed by governments of various countries in Europe, Asia Pacific (APAC), and North America on international travel compelled companies to discontinue their collaboration and partnership plans temporarily. All these factors hampered various industries in 2020 and early 2021, thereby restraining the growth of various markets, including the car care products market. However, the COVID-19 pandemic increased the demand for interior car care products as automobile owners became more concerned about maintaining a vehicle's hygiene for all passengers. The demand for antimicrobial and disinfection products that assist in keeping the interiors of vehicles free of germs and viruses increased during the pandemic. In 2021, several economies resumed operation as governments of various countries announced the relaxation of the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As numerous citizens of many countries were fully vaccinated by 2021, the car care products manufacturers focused on increasing their production to revive their businesses.

The report segments the car care products market as follows:

Based on product, the car care products market is segmented into cleaning products, polishing & waxing products, fresheners, and others. Based on application, the car care products market is bifurcated into interior and exterior. Based on distribution channel, the car care products market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the car care products market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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