Auto Care Products Market Worth $ 5.5 Billion By 2027 – Exclusive Report from MarketsandMarkets ™
CHICAGO, July 14, 2021 / PRNewswire / – According to New Market Research Report “Automotive Care Products Market by type of product (cleaning and washing, polishing and waxing, glazing and sealing coating), application (interior, exterior), consumption, solvent (water-based, foam), type of vehicle, distribution channel and region – Global forecasts until 2027 “, published by MarketsandMarkets ™, the global automotive care products market is expected to grow at a CAGR of 4.7% during the forecast period, from an estimate $ 4.2 billion in 2021 to $ 5.5 billion by 2027.
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The increase in used car sales, the use of e-commerce platforms by major players to increase customer base are expected to offer promising future growth of the automotive care products market.
The interior segment is expected to be the fastest growing segment during the forecast period
The interior segment refers to auto care products that are used to maintain the interior parts of a vehicle. It includes interior trim, plastic and rubber parts cleaners, window cleaners, leather care products, dash cleaners, car interior polish and floor cleaners. Due to COVID-19, interior hygiene awareness among car owners has increased, which will drive the growth of car interior care products. In addition, recent developments in antimicrobial car care products will fuel the use of interior car care products to maintain the aesthetics of a car’s interior, as well as to keep them free from germs and viruses.
Cleaning and maintenance segment by product type is expected to hold the largest market share in 2021
Automotive cleaning and care products are widely used in passenger cars because of their ability to protect the various interior and exterior parts of an automobile. The emphasis placed on better aesthetics of an automobile by car owners has increased the demand for car cleaning and maintenance products.
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North America is considered to be the dominant regional market
North America has the largest market for auto care products, and the United States has the largest market for auto care products in the North American region, followed by Canada and Mexico. Consumers in North America are more inclined to maintain the aesthetics of their vehicles. Therefore, manufacturers are launching new products to ensure that high quality and cost effective auto care products are available to customers.
Car owners in the United States are consuming more car wash and detailing services, which has simultaneously increased the demand for and consumption of car care products. In comparison, home car wash laws and restrictions in the United States have further required car owners to use beauty salons, service centers, and garages to maintain the aesthetics of their cars.
Key market players:
Tetrosyl (United Kingdom), Illinois Tool Works (United States), 3M (United States), Sonax GmbH (Germany) and the Wurth group (Germany) are the main companies operating in the world Automotive Care Products Market. These companies have adopted new product development and expansion strategies to gain traction in the carpooling market.
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