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European Car Care Products Market size to surpass $4 Bn by 2027
Published Date: 2021-09-06
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European Car Care Products Market size is poised to exceed USD 4 billion by 2027, according to a latest forecast report by Graphical Research. Growing importance of periodic car maintenance, improvement in car appearance, superior vehicle performance will drive the market demand.
Europe economy is highly driven by the automotive sector owing to the increasing presence of industry players in the region. Aftermarket and OEM parts sales have observed a noticeable growth over the past few years. The increasing automotive production to meet the rising demand has fueled the car care products industry. According to the OICA, in 2018, the automotive industry has observed a quick growth rate with sales and production both hitting new records.
The e-commerce industry players are focusing on increasing revenue generation with strong economic conditions. The increasing consumer preferences towards online retail will positively influence the demand for car care products. The rising e-commerce activities are creating growth opportunities and supporting car care suppliers to increase the availability of products & services through online portals.
The glaze and coating car care products will observe around 1.5% CAGR throughout 2027. Glazes contain fillers, leveling agents and micro-refined oils to fill in light swirls and scratches. It is especially used on light-colored vehicles and to mask minor imperfections and restore shine in the paint. Coatings act as a sacrificial layer to protect the paint underneath. It is mostly applied panel-by-panel and has a quick drying ability.
Browse detailed statistical insights from the report, “Europe Car Care Products Market Forecast 2027 By Distribution Channel (Online, Offline), By Product (Wax & Cleaning, Glaze & Coating), By Body Part (Interior, Exterior), By Application (DIY, DIFM), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Exterior car care products segment will exhibit 2.1% CAGR in Europe car care products market. Car exteriors are susceptible to the accumulation of dust, road tar, long exposure to heat and ultraviolet rays can damage the car’s finishing, leading to fading. Car care products aid in the efficient cleaning of exterior parts along with minimizing the harmful effects of various environmental factors.
The DIFM application of car care products held a revenue share of over 25% in 2020 owing to rising number of auto wash and service centers will drive the sale of car care products within this segment over the next few years. Car washing centers are providing better cleaning, faster service and leading to customer satisfaction by adopting new technologies.
Offline product distributors form long term partnerships and agreements with car care product manufacturers. Amidst the rising popularity of online channels, offline channels are aggressively trying to retain market share by adopting new strategies to refrain customers from shifting toward online platforms. Owing to the above factors, the Offline distribution channels segment grasped around 70% share in 2020.
The Europe car care products market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2016 to 2027 for the following segments
Europe Market, By Product
- Wax and cleaning
- Glaze and coating
Europe Market, By Body Part
Europe Market, By Application
Europe Market, By Distribution Channel
The above information has been provided for the following countries:
- Rest of Europe