Automotive Care Products Market is Expected to Reach USD 14.26 Billion by 2028

Car care products market size – USD 10.32 billion in 2020, CAGR of 4.10%, technological advancements and increasing automation of car wash technologies

NEW YORK, NY, USA, Jan. 6, 2022 /EINPresswire.com/ — Raising customer awareness of vehicle cleanliness and maintenance, easy availability of water-based solvents, and increasing revenue available will drive the market at a high CAGR during the forecast period.

Car Care Products Market was valued at USD 10.32 Billion in 2020 and is projected to reach USD 14.26 Billion by 2028, at a CAGR of 6.3% CAGR during the forecast period (from 2018 to 2026). Growing demand for high performance chemicals used for car durability and quality. Old vehicles and the declining trend of vehicle replacement are also supporting the growth of the market. The car care products market is mainly driven by the growing needs for safety and security.

The development of car care products market is in a growth phase owing to the advancement of technology in vehicle washing techniques. Growing disposable income in key geographies enables customers to purchase these products. Partnerships between car care manufacturers and company-authorized service centers will provide effective end-to-end solutions to end customers. To increase customer awareness of market benefits by driving market growth.

Many companies like 3M (US), Illinois Tool Works (US), Autoglym (UK), Sonax (Germany), Würth Group (Germany), Soft99 Corporation (Japan), Tetrosyl (UK) , Simoniz USA (USA), Turtle Wax (USA), Liqui Moly (Germany), Northern Labs (USA) and others operate in the market

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Other key findings from the report suggest

• Manufacturers of cleaning products are innovating across the product line. One of the major trends in the system is that of bio-based cleaning products. In bio-based cleaning products, manufacturers have replaced fossil-based ingredients with bio-based ingredients like enzymes or vegetable oil
• Cleaning products segment is expected to be the leading segment in the overall car care products market during the forecast period
• The trend towards sustainable development has taken priority in recent years. ~80% of all ingredients found in car care products launched in North America claimed to be green solutions like plant-based and biodegradable products.
• Growing need for eco-friendly and waterless/rinse-free products due to increasing environmental concerns and restrictions
• The demand for water-based solvent is increasing due to several reasons, as several countries in the world are facing the problem of water scarcity, and hence governments are imposing rules and regulations regarding water usage . Also, in many cases, the customer does not need water to clean the surface after applying water-based solvents, but it can be wiped off the surface of the vehicle with a dry cloth.

To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/car-care-products-market

For the purposes of this study, the reports and data have segmented the industry by product, component material, distribution channel, solvent, application area and region:

Car Care Products by Product (Revenue, USD Million; 2018-2028)

• Cleaning and maintenance
• Polishing and waxing
• Sealing glaze and coating
• Protection
• Ice scrapers
• Other

Car Care Products by Component Material (Revenue, USD Million; 2018-2028)

• Glass
• Rubber
• Leather
• Metal bodies
• Other

Car Care Products by Distribution Channel (Revenue, USD Million; 2018-2028)

• In line
• Brick and mortar
o Car beauty salons
o Service centers and garages
o Super and Hyper Markets
o Stores authorized by the company

Automotive Solvent Care Products (Revenue, USD Million; 2018-2028)

• Water-based solvents
• Foam-based solvents

Automotive Care Products by Application Area (Revenue, USD Million; 2018-2028)

• Interior

o Headquarters
Dashboard
o Windows, glass, mirrors
o Other

• Exterior

o Bumper
o Bodywork
o Tires and rims
o Windows, glass, mirrors
o Other

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Car Care Products by Region (Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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Tushar Rajput
Reports and data
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