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APAC Car Care Products Market size to reach $4.4 Bn by 2027
Published Date: 2021-03-22
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APAC Car Care Products Market size is projected to cross USD 4.4 billion by 2027, according to a latest forecast report by Graphical Research. Promising trends in the automobile sector, such as the increasing number of vehicles and the rising adoption of electric cars will propel the industry expansion.
Some key discoveries of the car care products market report include:
- The exterior body part will gain significant momentum during the forecast period owing to the constant exposure of the outer surface of the car to the surrounding atmosphere.
- The wax & cleaning segment will reflect promising growth through 2027 due to its ability to protect against scratches and other external factors.
- Industry participants are involved in strategic initiatives to strengthen their industry foothold.
- COVID-19 pandemic had a severe toll on the industry growth and plummeted the industry revenue generation due to stringent government regulations.
- 3M, Ningbo Shinsan Cleaning Products Co., Ltd., Zhongshan Datian Car Care Industry Inc., Guangzhou Veslee Chemical Science and Technology Co., Ltd., Miracle Systems, Jangra Chemicals Private Limited, Green Duck Industries, Sensha Co., Ltd., Hikari Co., Ltd., Refract Car Care Products, and Carchem Products Pty Ltd. are some of the major players operating in the market.
Rising inclination towards car maintenance is certain to positively influence the industry demand. The trend is also gaining pace on account of increasing sales of luxury vehicles in the region due to the rising number of high net worth individuals, especially in China. Since the external harsh weather conditions coupled with constant exposure to the sunlight put the car paint at risk, these areas become vulnerable to corrosion and discoloration. Therefore, regular car service & wash prevent the contaminants accumulation and keep the car corrosion-free and blemish. In order to keep the upholstery items, carpets, instrument panels, etc. in an optimum state, stain removing, cleaning, and vacuuming measures are taken.
Browse detailed statistical insights from the report, “Asia Pacific Car Care Products Market Size By Body Part (Exterior, Interior), By Product (Glaze & Coating, Wax & Cleaning), By Application (DIFM, DIY), By Distribution Channel (Offline, Online), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
The product manufacturers are shifting their focus towards the usage of environment-friendly materials for car care products and are involved in the manufacturing of no-rinse products due to their surging popularity. Additionally, industry participants are offering multi-purpose products possessing fast-acting, repellent, and protection properties.
Based on the product, the wax & cleaning segment size is expected to exceed USD 3.4 billion by 2027. Owing to their useful nature these products are experiencing an escalating demand from consumers and is expected to be one of the fastest-growing segments in the future.
Based on the body part, the exterior segment contributed a major share to the APAC car care products market driven by the higher demand for external care products and more people opting for a regular car wash & maintenance. Moreover, major car care product companies due to the increasing prevalence of online sales channels are establishing an online platform intending to boost their sales performance.
China is anticipated to capture over 40% of the market share by 2027. Trends favoring the car wash industry and the rising number of vehicles on the road in conjunction with a large population will support the growth of the market. Additionally, car wash facilities are adopting several technologies, such as online platforms and car wash apps to bring out more customers.
The APAC car care products market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
- Glaze & Coating
- Wax & Cleaning
Asia Pacific Market, By Body Part
Asia Pacific Market, By Application
Asia Pacific Market, By Distribution Channel
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- Rest of Asia Pacific