Press release
Global Car Care Products Market to Reach $18.74 Billion by 2029, Growing at 7.4% CAGR
Car Care Products
The expected boost in the car care products market is attributed to the growing sales of used cars in the future. Previously owned by one or multiple users, these used cars are gaining popularity especially amidst the middle class. Factors like affordability, the convenience of immediate purchase, among others, are tilting preferences towards these used cars rather than new ones. Still, such vehicles are prone to damage from pollutants, requiring consistent attention to maintain their longevity. In December 2023, as reported by the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade union, the UK's used car market witnessed 5.5% growth in Q3 2023 compared to 2022. Noticeably, BEV sales experienced a whopping 99.9% rise, even though the overall market remained 9.3% under the pre-pandemic level. Consequently, the growth in used cars sales is projected to drive the expansion of the car care products market.
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What growth opportunities are expected to drive the car care products market's CAGR through 2034?
The market size for car care products has seen robust expansion in the past few years. It is predicted to escalate from $13.23 billion in 2024 to $14.09 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to this historic growth include the increase in passenger vehicles, elevated disposable income, powerful economic development in maturing markets, and swift urbanization.
The market for car care products is predicted to experience significant expansion in the coming years, with projections suggesting a growth to $18.74 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 7.4%. This increase in the prediction period can be traced back to factors like the expanding automotive industry, the surge in car detailing enterprises, the rise in used car sales, and the swift advancement in e-commerce. Key trends anticipated in the forecast span consist of firms expediting the creation of anti-microbial car care merchandise, the introduction of advanced technology in product development, employing steam cleaning techniques, fostering innovation in car care commodities, and engaging in collaborations to formulate new products.
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What are the emerging trends shaping the future of the car care products market?
The car care products market is currently witnessing a surge in the trend of technological advancements in car wash. Manufacturers in this domain are channeling their efforts towards the invention of products that incorporate advanced tech to take the lead in the market. For instance, PHILISN, a company based in the US and operating in the car washing market, launched a new product in February 2022. This innovation consists of an ecologically friendly formula that leverages advanced bio-enzyme degradation technology along with a novel green, safe formula. It is designed to assist car owners in washing and maintaining their vehicles in the most convenient, efficacious, and cost-efficient manner. The advanced bio-enzyme degradation technology enables PHILISN's all-purpose interior cleaner to eradicate and break down bacteria, stains, and dust from all interior surfaces. It also helps to restore these surfaces to their initial state, providing an effortless solution for cleaning car interiors.
Which growth-oriented segments of the car care products market are leading the industry's development?
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
Subsegments:
1) By Car Cleaning Products: Shampoo, Foam Wash, Degreasers, All-Purpose Cleaners, Interior Cleaners
2) By Car Polish: Liquid Polish, Paste Polish, Spray Polish
3) By Car Wax: Natural Wax, Synthetic Wax, Spray Wax
4) By Wheel And Tire Care Products: Tire Cleaners, Tire Dressings, Wheel Cleaners
5) By Glass Cleaners: Spray Cleaners, Wipes, Foams
6) By Other Product Types: Engine Degreasers, Upholstery Cleaners, Odor Eliminators, Paint Sealants
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What regions are leading the charge in the car care products market?
North America was the largest region in the car care products market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car care products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the car care products market?
Major companies operating in the car care products market include 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, MA-FRA, SCT-Vertriebs GmbH, Autoland Car Care, Cartec BV, Amtra, Lavr Auto Chemicals, Grassmart LLC, 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.
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What Is Covered In The Car Care Products Global Market Report?
•Market Size Forecast: Examine the car care products market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the car care products market for a structured understanding.
•Key Players Overview: Analyze major players in the car care products market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the car care products market.
•Segment Contributions: Evaluate how different segments drive overall growth in the car care products market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the car care products market.
•Industry Challenges: Identify potential risks and obstacles affecting the car care products market.
•Competitive Landscape: Review strategic developments in the car care products market, including expansions, agreements, and new product launches.
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