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Car Care Products Global Market Report 2024 - By Size, Share, Industry Demand, Growth And Forecast To 2033
Car Care Products Market
As per the report, the car care products market size has grown strongly in recent years. It will grow from $12.48 billion in 2023 to $13.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The car care products market size is expected to see strong growth in the next few years. It will grow to $17.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Surge In Used Car Sales Drives Growth In Car Care Products Market
The rising sales of used cars are expected to propel the growth of the car care products market during the forecast period. Used cars are cars that have been preowned by one or more than one user in the past. The demand for used cars is rising due to an increase in a shift in preferences among middle-class people to buy used cars over new cars due to various factors such as low cost, immediate purchase, and others. However, these vehicles are vulnerable to pollutants and require constant care to maintain the vehicle for a longer tenure. For instance, according to an Autocar India report, the used car sector in India maintained 3.8 million units in FY2021, which is 1.5 times higher than the 2.6-million-unit new car market. Furthermore, according to the China Daily report, In China, a total of 1.53 million used cars were sold in June 2021 which is a 17.76% growth from the previous year. Therefore, the rising sale of used cars is expected to propel the growth of the car care products market.
Advancements In Car Wash Technology Propel Innovations In The Car Care Products Market
Technological advancements in car wash are a key trend gaining popularity in the car care products market. Car care products manufacturers are focusing on developing products with advanced technology to lead the market. For example, in February 2022, PHILISN, a US-based company operating in the car washing market, introduced an environmentally sound formula that uses advanced bio-enzyme degradation technology with an innovative green, safe formula to help car owners wash and care for their vehicles in the most convenient, effective and money-saving way. With the innovative bio-enzyme degradation technology, PHILISN's all-purpose interior cleaner can remove and degrade bacteria, stains, and dust off all interior surfaces, and restore them to their original look, providing a hassle-free car interior cleaner solution.
The car care products market covered in this report is segmented -
1) By Product Type: Car Cleaning Products, Car Polish, Car Wax, Wheel And Tire Care Products, Glass Cleaners, Other Product Types
2) By Application: Interior, Exterior
3) By Distribution Channel: Online, Offline
4) By Solvent Type: Water-Based, Foam-Based
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Major companies operating in the car care products market report are 3M Company, Wurth Group, Illinois Tool Works Inc, Tetrosyl Ltd, Armor All, Sonax GmbH, Turtle Wax Inc, Chemical Guys, Autoglym, Simoniz USA, Shining Carz Private Limited, A.J. Industries, Amfos International, JMD International, UE Autotech (I) Private Limited, S.K.Group Of Marketing, Linyi Xingguan Technology Co. Ltd, Dongguan Power Eagle Lubricant Technology Ltd, Guangzhou Veslee Chemical Co. Ltd, Shanghai Huaqi Industrial Co. Ltd, Zhongshan Michel Chemicel Co. Ltd, Zhongshan Tekoro Car Care Industry Co Ltd, Hebei Fangke New Material Technology Co Ltd, Halfords, Axle Group Holdings, Liqui Moly GmbH, MA-FRA, SCT-Vertriebs GmbH, Autoland Car Care, Cartec BV, Amtra, Lavr Auto Chemicals, Grassmart LLC, Toshiba Corporation, Maxim Integrated, Analog Devices Inc, Infineon Technologies AG, ON Semiconductor, Alloy Products, Rohm Semiconductor, Amazing Goop, STMicroelectronics, Renesas Electronics Corporation, NXP Semiconductors, Formula 1 Wax, Auto Magic, MaFra International, Armored Auto Group, Bullsone, Liqui Moly, Ditec Middle East Auto Care, Majestic Car Care, Enzo Car Care, BlueTeam Car Services, Alba Royal Care, Soft 99 Corporation, TurtleWax South Africa, Crazy Detailer, EZ Car Care, Keizin Automotive, Meguiars, ProTouch Car Care.
Contents of the report:
1. Executive Summary
2. Car Care Products Market Report Structure
3. Car Care Products Market Trends And Strategies
4. Car Care Products Market - Macro Economic Scenario
5. Car Care Products Market Size And Growth
…..
27. Car Care Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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