Automobile Care Products Market Research Report - Global Forecast till 2025

Global Automobile Care Products Market Research Report: Information by Type (Cleaning & Caring, Polishing & Waxing, Sealing Glaze & Coating, Others) Application (Service Centres and Garages, Auto beauty Shops, Individual Sources, Others) and Region - Forecast till 2025

ID: MRFR/AM/7185-CR | December 2020 | Region: Global | 136 pages

Market Overview


Global Automobile Care Products Market in terms of value is estimated to register 4.11% CAGR during the forecast period.


The global automobile care products market is expected to witness rapid growth during the forecast period. Asia-Pacific is expected to witness substantial growth in the automotive care products market due to the growing number of service stations, increasing aftermarket activities, and rising automotive sales. Furthermore, the strong economic growth and the growth of the automotive industry in this region increases the demand for automotive care products. The key trends that are expected to trigger the growth of the automotive care products market in the region include the continually shifting market dynamics, technological improvements, and changing preferences of vehicle owners. Furthermore, China is one of the most attractive markets for global automotive OEMs to invest through joint ventures with local vehicle brands. Additionally, infrastructure development, lower production costs, and favorable government schemes are encouraging global players to invest heavily in this country. Additionally, the country has a heavy pollution problem and often experiences dust storms, which has boosted the growth of the car washing industry in China and is expected to drive the growth of automobile care products.


In 2018, North America held the second-largest market share in the global automobile care products market. North America countries have agreed to the North American Free Trade Agreement (NAFTA), where the countries can freely trade vehicles and auto components. The region is dominated by the US and is home to key automotive OEMs, including General Motors, Ford Motor Company, and Tesla, Inc. The US has a comparatively larger fleet of premium and luxury passenger cars, which increases the demand for automotive care products. The demand for automotive care products is expected to grow in North America owing to the increase in demand for automobiles, primarily in the US.


Segmentation


The Global Automobile Care Products Market is segmented based on Type and Application. On the basis of type, the cleaning and caring segment are expected to dominate the global market. The cleaning & caring products help remove dirt, mud, hard-dust, bird droppings, oil and grease from exterior automotive painted surfaces without damaging the surface.Automobile care includes the exterior and interior cleaning with the help of cleaning and care products, care aerosol, and washing accessories.


By application, the service centers & garages segment is expected to dominate the market. The service centers & garages are well equipped for providing washing, aesthetic enhancements, lubrication, and tire and battery services. The service centers and garages are equipped with different types of fixtures, tools, and jigs as well as multiple vehicle aesthetic enhancement products used in cleaning & caring, polishing & waxing, and sealing.


Regional Analysis


By region, the global automobile care products market is segmented into North America, Europe, Asia-Pacific (APAC), South America and the Middle East & Africa.


Global Automobile Care Products Market, by Region, 2018  Automobile Care Products Market


Source: MRFR Analysis


Europe is anticipated to fastest-growing automobile care products market during the forecast period. The region is one of the most crucial markets for luxury and premium vehicles as it hosts several key automotive companies. The increased availability of water-based solvents, consumer awareness regarding vehicle maintenance, increase in new car sales, advancements in car wash technology, and increased investments in the development of automotive care products is expected to boost the share of Europe in the market during the forecast period.


Germany is considered to be the automotive hub of the world. Major automobile OEMs including Volkswagen, Daimler, and BMW, are based in this country. According to Germany Trade and Invest (GTAI), 1/3rd of the global automotive research and development expenditure is generated from Germany. This has increased investments in enhancing vehicle aesthetics in the domestic market, fueling the demand for automotive care products in the country.


Synopsis


The Global Automobile Care Products Market has been segmented on the basis of Type, Application, and Region. On the basis of type, the cleaning and caring segment are expected to dominate the global market. The cleaning & caring products help remove dirt, mud, hard-dust, bird droppings, oil and grease from exterior automotive painted surfaces without damaging the surface.


Key Competitors


The Key Players of the Global Automobile Care Products Market are Adolf Würth GmbH & Co. KG (Germany), Jopasu Systems Pvt. Ltd. (India), Mothers Inc. (US), BULLSONE Co. Ltd (South Korea), Valvoline Inc. (US), Total S.A (France), SOFT99 corporation. (Japan), Tetrosyl Ltd. (England), Simoniz  USA (US), 3M (US), Turtle Wax (US), The Armor All (US), SONAX GmbH (Germany), LIQUI MOLY GmbH (Germany), Autoglym (UK), Guangzhou Botny Chemical Co., Ltd (China), Illinois Tool Works Inc. (US), and Guangzhou Biaobang Car Care Industry Co., Ltd (China).


Market Segmentation



  • By Type Cleaning & Caring, Polishing & Waxing, Sealing Glaze & Coating, and Others



  • By Application – Service Centers and Garages, Autobeauty Shops, Individual Sources, and Others


Key Questions Addressed by the Report



  • What was the historic market size (2018)?

  • Which segmentation (Type/ Application) is driving market?

  • What will be the growth rate by 2025?

  • How are the key players in this market?

  • What are the strategies adopted by key players?



Frequently Asked Questions (FAQ) :


4.11% is the CAGR recorded for the market.

Asia-Pacific is expected to witness substantial growth in the automotive care products market with growing number of service stations, swelling aftermarket activities, and expanding automotive sales.

The key trends to trigger the growth of the automotive care products market in the region are the continually shifting market dynamics, technological improvements, and changing preferences of vehicle owners.

General Motors, Ford Motor Company, and Tesla, Inc are key companies are leading in the market sale.

North America, Europe, Asia-Pacific (APAC), South America and the Middle East & Africa are the main regions grossing with high market share.