Car Care Products Global Market Report 2024

Car care products encompass high-quality chemicals designed to preserve and repair car surfaces, addressing scratches and ensuring comprehensive care for both the interior and exterior of vehicles, maintaining their aesthetic appeal. These products aim to enhance shine, gloss, and durability.

They consist of various categories such as car cleaning products, car polish, car wax, wheel and tire care solutions, glass cleaners, among others. Car cleaning products are employed for both automated and manual exterior cleaning, available in water-based and foam-based variations, and are distributed through online and offline channels.

The car care products market research report is one of a series of new reports from The Business Research Company that provides car care products market statistics, including car care products industry global market size, regional shares, competitors with a car care products market share, detailed car care products market segments, market trends and opportunities, and any further data you may need to thrive in the car care products industry. This car care products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed in the historic period of car care products was primarily driven by a surge in passenger vehicles, increased disposable income among consumers, robust economic growth in emerging markets, and the rapid pace of 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 anticipated growth in the forecast period of car care products stems from the expanding automotive industry, burgeoning car detailing enterprises, heightened sales of pre-owned vehicles, and the rapid surge in e-commerce. Noteworthy trends expected during this period encompass companies hastening the creation of antimicrobial car care solutions, advancing technological features in products, introducing steam-based cleaning methodologies, intensifying innovation in car care merchandise, and engaging in strategic partnerships to drive novel product development.

The anticipated surge in the sales of used cars is poised to drive the growth of the car care products market in the forecast period. Used cars, having been previously owned by one or more users, are gaining popularity among middle-class consumers due to factors such as lower cost and immediate availability. The shift in preferences towards used cars has led to an increased demand for car care products as these vehicles are susceptible to pollutants and require consistent maintenance for prolonged usage. Notably, data from an Autocar India report reveals that the used car sector in India reached 3.8 million units in FY2021, surpassing the new car market by 1.5 times (2.6 million units). Similarly, a China Daily report highlights a 17.76% growth in the sale of used cars in China, reaching 1.53 million units in June 2021 compared to the previous year. Consequently, the rising sales of used cars are expected to be a significant driver for the car care products market.

The expanding automotive industry emerges as a primary catalyst for the car care products market. The growth of the automotive sector translates into an increased demand for goods and services related to automotive repair and maintenance. Consumers seek products that help preserve the interior and exterior aesthetics of their vehicles, enhance longevity, and maintain the original quality, ultimately boosting the resale value. As of May 2023, a report from the European Automobile Manufacturers' Association (ACEA) indicates a global production of 85.4 million motor vehicles in 2022, marking a 5.7% increase from the previous year. Additionally, data from the International Organization of Motor Vehicle Manufacturers reveals a rise in the total production of cars and commercial vehicles from 80,145,988 in 2021 to 85,016,728 in 2022. This substantial growth in the automotive industry is expected to drive the car care products market by creating a heightened demand for maintenance and preservation solutions.

The car care products market is experiencing a noteworthy trend with the increasing adoption of technological advancements in car wash solutions. Manufacturers in the car care products industry are directing their efforts toward developing cutting-edge products infused with advanced technology to establish leadership in the market. A case in point is PHILISN, a US-based company operating in the car washing market, which, in February 2022, introduced an environmentally friendly formula featuring advanced bio-enzyme degradation technology. This innovative and safe formula aims to offer car owners a convenient, effective, and cost-saving way to wash and care for their vehicles. Notably, PHILISN's all-purpose interior cleaner utilizes bio-enzyme degradation technology to efficiently remove and degrade bacteria, stains, and dust from all interior surfaces, restoring them to their original appearance. This introduction represents a hassle-free solution for car interior cleaning, aligning with the growing demand for technologically advanced car care products.

A prominent trend gaining traction in the car care products market is the emphasis on product innovations within the car wash segment. The prevalence of second-hand cars, requiring heightened maintenance and care, has spurred car care product manufacturers to accelerate their innovation efforts. Auto Magic Professional Car Care, a US-based company operating in the car care products sector, exemplifies this trend by launching the TruAdvantage System in May 2021. This system features a dilutor system with seven ultra-concentrated detailing solutions, offering unparalleled efficiency while reducing the detailing cost per car and enhancing overall detailing operations. The innovative aspect includes a dilution system that provides the right, ready-to-use portion of the product with a simple push of a button, catering to the evolving needs of consumers seeking efficient and cost-effective car care solutions.

In March 2022, Snow Joe, a US-based entity renowned for crafting cost-effective outdoor tools, acquired Slick Products for an undisclosed sum. This strategic acquisition was targeted at broadening Snow Joe's burgeoning automotive product line, emphasizing top-tier offerings intended to preserve the appearance, condition, and worth of vehicles and equipment. Slick Products, also based in the US, specializes in manufacturing specialized cleaners, cleaning solutions, and accompanying accessories.

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.

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.

The countries covered in the car care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The car care products market consists of sales of interior care products and sealing glaze. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Car Care Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on car care products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for car care products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The car care products market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: 3M Company; Wurth Group; Illinois Tool Works Inc; Tetrosyl Ltd; Armor All
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.