Car Care Products Manufacturers offer various products designed to clean, protect and maintain vehicles, such as waxes, polishes, lubricants and cleaners. With increasing passenger vehicle sales as well as increasing markets for used cars where well maintained cars fetch higher values, demand is expected to surge for such products.
Asia Pacific region is the fastest-growing market for automotive care products due to the rising car production in key countries like China. Additionally, this area boasts an abundant population, substantial manufacturing sector investment, technological knowledge and skilled labor resources.
North America holds the largest share in the global automobile care products market and is projected to maintain this dominance during the forecast period. A combination of factors, including growing automotive sales, an increase in mini truck usage as family vehicles and an increasing desire for luxury cars will drive growth of this region’s market.
Major players in the market are expanding their product lines and market reach, which will allow them to increase growth over the coming years. Their increased emphasis on R&D activities will further bolster demand for automobile maintenance products, and they are making substantial investments in marketing and advertising to increase sales.
The COVID-19 outbreak led to a drastic decrease in automobile sales, leading to raw material shortages for car care products and subsequent production delays and delayed shipment to customers – thus having a serious impact on car care manufacturers’ revenue streams.
Passenger vehicles account for the highest market share due to car owners’ increasing commitment to keeping their car clean and germ-free in order to ward off harmful microbes, and to maximize resale value – factors which boost demand for car care products.
The global car care products market is highly competitive with numerous regional and global players competing to be at the forefront. Prominent vendors include 3M; Tetrosyl Ltd; Armor All; SONAX GmbH; MA-FRA S.p.A; Northern Car Care; Jopasu India Pvt. Ltd and Cartec B.V – just to name a few – who strive to continually enhance product quality as part of their growth strategies in this market.
North America holds the largest car care products market due to high sales volumes and rising awareness about vehicle maintenance. Mini trucks as family vehicles and the demand for luxury cars will fuel market expansion over the coming years; additionally, contributions from automotive component manufacturers will promote its development further.
Raw materials necessary for manufacturing car care products – leather detergent, chemical solvents, blends of carnauba wax and specific polymer compounds – must remain affordable to avoid negatively affecting profitability for vendors and slowing market expansion in the near future. Rising prices will only compound these difficulties further.
Antimicrobial agents have become an integral component of leading car care product manufacturers’ offerings in order to increase the value of their offerings, aiding them in eliminating offensive odors and nicotine residue from vehicles. Key players in the car care products market include 3M; Adolf Wurth GmbH & Co. KG; Amtra Sp. z o.o; ARMOR ALL; Auto Magic; Autoglym; Jopasu India Pvt Ltd, Cartec BV Simoniz USA Northern Car Care; Northern Car Care and SONAX GmbH among others.
Rest of the World
The global car care products market is propelled by various forces. Strict government regulations on upgradation or replacement of vehicle components to extend their lifespan and value, increasing utilization of automobile after sales services, and the adoption of ecommerce platforms by major players all drive market expansion.
Rising disposable income in developing and underdeveloped regions also supports global market expansion. Key players’ introduction of advanced car care products with antimicrobial technology is projected to create lucrative opportunities in this market.
Waxes, polishes, interior and exterior cleaners, paint protection products, rim protectors, tire cleaners and glass cleaners are the mainstay of the global automobile care market. Manufacturers focus on producing versatile products that can meet both consumer demand and automotive manufacturer requirements; as well as investing in research and development to strengthen their product offerings and decrease production and distribution costs for increased market expansion.