August 04, 2021
According to the business intelligence report titled ‘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’,available with Market Study Report, global car care products market is anticipated to showcase lucrative growth trends between 2021-2027.
Growing consumer awareness regarding car maintenance, expansion of automotive industry, and rising popularity of online retail channels are key factors supporting global car care products market augmentation. Moreover, growing number of vehicles on road, and rising preference for DIFM ((do-it-for-me)) services will aid the industry progression in the upcoming years.
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The report also cites that advancements in car wash technology with increasing focus on saving water, providing quick service, and safer & better cleaning will facilitate market augmentation as well.
For the unversed, car care products primarily protect the exterior portion of cars from dirt and harsh weather conditions.
Based on product gamut, glaze & coating, and wax & cleaning are the major segments highlighted in global car care products industry report. Speaking of body parts, the market sphere is bifurcated into interior, and exterior. As per distribution channel, the business space is fragmented into offline, and online.
Moving on to application scope, the industry is classified into DIFM, and DIY. Among these, the DIFM segment is projected to accrue USD 3.5 billion by 2027. Emergence of various new car wash technologies is driving consumer inclination towards DIFM services. Moreover, presence of various established firms who are offering these services at affordable prices is further supporting the segmental expansion.
Regionally speaking, Europe is projected to capture 28% of global car care products industry share by 2027 owing to growing presence of car detailing centers and increasing car maintenance activities in the region. Meanwhile, Latin America market is anticipated to grow at 2.5% CAGR between 2021-2027 due to growing number of vehicles on the roads.
Middle East & Africa market valuation is speculated to exceed USD 900 million by 2027. Availability of on-demand car wash services in Sharjah, Dubai, Ajman and parts of Abu Dhabi can be credited for this growth projection.
Key players profiled in this report are 3M Company, Tetrosyl Group Ltd., Ningbo Shinsan Cleaning Products Co. Ltd., Sonax GmbH, Puris Europe, Amtra Sp. z.o.o., Autoglym, Autoland LLC, Turtle Wax Inc., Liqui Moly GmbH, Zhongshan Datian Car Care Industry Inc., MA-FRA S.p.A, Meguiar’s Inc., Catec B.V., and SCT Vertriebs GmbH.