Global Car Care Products Market Report 2024: Market Size, CAGR, Lucrative Segments

Overview and Scope
The car care products refer to high-quality chemicals, which are used to prevent and fix damages to cars such as for scratches to ensure that utmost care is provided to each part of the car and to retain the visual appeal of the car. These products are used to attain better shine, gloss, and longevity of various exterior and interior parts of cars.

Sizing and Forecast
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 growth in the historic period can be attributed to surge in passenger vehicles, rise in disposable income, strong economic growth in emerging markets, and rapid urbanization.

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%. The growth in the forecast period can be attributed to growing automotive industry, rising car detailing businesses, increasing sales of used cars, and rapid growth in e-commerce. Major trends in the forecast period include companies accelerating the development of anti-microbial car care products, developing products with advanced technology, introducing steam cleaning methods, accelerating innovation in car care products, and undergoing partnerships to develop new products.

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Segmentation & Regional Insights
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

North America was the largest region in the car care products market in 2023. 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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The car care products market report table of contents includes:

1. Executive Summary
2. Car Care Products Market Characteristics
3. Car Care Products Market Trends And Strategies
4. Car Care Products Market - Macro Economic Scenario
5. Global Car Care Products Market Size and Growth
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32. Global Car Care Products Market Competitive Benchmarking
33. Global Car Care Products Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Car Care Products Market
35. Car Care Products Market Future Outlook and Potential Analysis
36. Appendix

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