Automobile Care Products Market Share

Automobile Care Products Market Overview:

The Automobile Care Products Market Size was valued at USD 12.6 Billion in 2021. The Automobile Care Products market industry is projected to grow from USD 14.2 Billion in 2022 to USD 21.3 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period (2022 - 2030). Used cars are pre-owned cars. They had one or more retail owners in the past. 

The used car market is served by unorganized players, including individuals, not organizations, and various organized players such as Alibaba Group, eBay, Sun Toyota, Cars24 Services Pvt. Ltd., and OLX Autos by OLX Group. COVID-19 has negatively affected the purchasing power of a large section of customers wanting to buy a new car, increasing the demand for used cars worldwide. A clean car interior of all dirt, sand, dust, and smudges is excellent, but what about cleaning up all bacteria and harmful microbes. It renders helps the driver and passengers of a vehicle who mostly spend 3-4 hours inside a car to save themselves from various diseases and health issues related to bacterial infection. Car owners and customers have realized the importance of a germ-free surface, and many car care product manufacturers have.  

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automobile Care Products Market Trends

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  The country has a heavy pollution problem and often experiences dust storms, which has boosted the growth.

  
  

Used cars are prone to pollutants that can deteriorate their automotive finishes and interiors. A car is exposed to environmental issues like sun rays, tree resin, road asphalt, sand, gravel, de-icing agents, bird guano, and various aerial pollutants. The 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 increase the demand for automotive care products.

Additionally, 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 automotive OEMs to invest in through joint ventures with local vehicle brands. Additionally, infrastructure development, lower production costs, and favorable government schemes are encouraging 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.

Automobile Care Products Market Segment Insights

Automobile Care Products Type Insights

The Automobile Care Products market segmentation, based on type, includes Cleaning & Caring, Polishing & Waxing, Sealing Glaze & Coating, and Others. the cleaning and caring segment are expected to dominate the automobile care products 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 exterior and interior cleaning with the help of cleaning and care products, care aerosol, and washing accessories.

Automobile Care Products Application Insights

Based on Application, the automobile care products market segmentation includes Service Centers and Garages, Auto beauty Shops, Individual Sources, and Others. the service centers & garages segment is expected to dominate the automobile care products 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.

Figure 2: Automobile Care Products Market, by Distribution Channels, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automobile Care Products Regional Insights

By region, the study provides automobile care products market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is anticipated to fastest-growing car 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 are expected to boost the share of Europe in the automobile care products market during the forecast period.

Figure 3: Automobile Care Products Market Share By Region 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

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 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.

Automobile Care Products Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Automobile Care Products market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the car care products industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for car care products. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the car care products industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Automobile Care Products industry to benefit customers and expand the market sector. The Automobile Care Products market has recently seen some of the most important advantages. Major automobile care product market players, Adolf Würth GmbH & Co. KG (Germany), Jopasu Systems Pvt. Ltd. (India), Mothers Inc. (US), BULLSONE Co. Ltd (South Korea), and others, are attempting to increase market demand by funding R&D initiatives.

Adolf Wuerth GmbH & Co. KG provides trading of assembly and fastening materials. The Company offers screws, screw accessories, dowels, hoses, couplings, nuts, fasteners, fittings, hand tools, storage, and retrieval systems. Adolf Wuerth serves customers worldwide.

Also, Bullsone Co., Ltd. manufactures and distributes auto care products. The Company produces engine care, surface care, glass care, and other auto care products. Bullsone markets its products throughout South Korea.

Key Companies in the Automobile Care Products market include

• 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),

Automobile Care Products Industry Developments

February 2024 : LATL (Lumax Auto Technologies Limited), a well-known Tier-1 automobile systems and components manufacturer, has partnered with Bluechem Group from Germany. This partnership will be through its aftermarket division. Bluechem Group is an internationally recognized company in vehicle maintenance products and services based in Germany. The group operates in over 120 countries worldwide and boasts a strong research & development team that has come up with more than 500 patented innovations so far. Besides the German Innovation Award, it has also won Großer Preis des Mittelstandes, among others. Such global auto companies as BMW, Ford, Hyundai,Kia,Mazda, Skoda etc approve their products.

This partnership offers Indian customers top quality international standard car care products for cleaning, service and maintenance across preventive and maintenance solutions; additives; car & bike care (PPF,Ceramic,Detailing products etc); diagnostic software; tools and equipment. The Indian Car Care Products, Services & PPF Market is estimated to be around Rs.1025 Crores (in 2023) growing at CAGR of 8.5% p.a . “With this strategic tie-up we aim to give further fillip to our growing Aftermarket segment in India which aspires to be amongst top three players in the country” said Mr Deepak Jain Chairman MD Lumax-DK Jain Group while establishing presence of Bluechem in India through this alliance , according joint press release issued by both partners.

In India the company shall introduce co-branded products distributed by Lumax Aftermarket through its extensive network of 350+ channel partners over 30,000 workshops located across India starting with 30 SKUs which will keep on increasing.Bluechem will support them by way trainings /OEM approvals /joint marketing activities etc.

Some of these include Engine Clean, Oil Treatment, Diesel System Clean, Petrol System Clean, Nano Engine Protect DPF Clean , Cetane Boost, Ceramic Chain Wax,Glass Cleaner etc.

Automobile Care Products Market Segmentation

Automobile Care Products Type Outlook

• Cleaning & Caring


• Polishing & Waxing


• Sealing Glaze & Coating


• Others

Automobile Care Products Application Outlook

• Service Centers and Garages


• Auto beauty Shops


• Individual Sources


• Others

Automobile Care Products Regional Outlook

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  Middle East
  
  


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  Africa
  
  


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  Latin America