Car care products market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period. The rising demand for used cars is anticipated to support the growth of the car care products market. The demand for used cars is rising due to factors such as low cost, immediate purchase, and others. According to the Indian Used Car Market Study commissioned by Volkswagen India to Frost & Sullivan, the used car market to touch 8.2 million units by 2025 from 3.8 million units of 2021. Additionally, the ratio of used cars compared to the new car is expected to become 2.1 times by 2025. According to the China Automobile Dealers Association, about 1.44 million used cars changed hands in July 2021, up 1.88% over June 2021. Fast-acting car wash products are high-performance chemicals that are used to renew the interior and exterior of a used car. These products improve shine, enhance gloss, and retain the visual appeal of vehicles. Due to this trend of used cars, car owners are increasingly opting for auto care and detailing services as second-hand cars necessitate more effort for care and maintenance.
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Segmental Outlook
The global car care products market is segmented based on product type, application, end-user, and distribution channel. Based on the product type, the market is segmented into cleaning & washing, polishing & waxing, sealing glaze & coating, and others. Based on the application, the market is categorized into interior and exterior. Based on the end-user, the market is categorized into commercial and individual. Further, based on the distribution channel, the market is segmented into online and offline. Among the application segment, the interior segment is expected to cater prominent market share over the forecast period. Interior car care products include a wide range of products such as dashboard cleaner and polish, leather cleaner and detergent, fabric freshener, carpet cleaner, and upholstery, among others. These are used for cleaning the interiors of a car and add to the comfort of the driver and the passengers in the vehicle.
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Among the product type segment, the cleaning & washing product sub-segment is anticipated to hold a prominent share in the global car care products market. The main types of car cleaning & washing products include car wash shampoo and detergent, brushes and sponges, glass cleaners, microfiber wash mitt & towels, headlight cleaner & sealant, and others. Car cleaning products are the products that are used for external and internal cleaning of cars and are available in both water-based and foam-based. Due to their wide use in safely removing dirt, grease, oil stains, residues, and other contaminants from the exterior and interior surface of vehicles they are widely used for individual and commercial applications. Market players are also rapidly launching various car cleaning and washing products which is the major factor propelling the segmental growth. For instance, in July 2021, ITW Chemin launched Septone Orange Scrub and Septone Eliminator, a new waterless industrial range of hand cleaners for the Indian market. The product launch aims to reduce the challenges faced by the right hand cleaners across the industry.
by Product Type (Cleaning & Washing, Polishing & Waxing, Sealing Glaze & Coating, and Others),
by Application (Interior and Exterior), by End-User (Commercial Use, and Individual Use), and
by Distribution Channel (Online and Offline)
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