The car care product market is a part of the automotive aftermarket which provides after-purchase solutions. The growing high-performance chemicals are used for long-lasting quality and durability of vehicles. Car care products prevent unwanted accidents, improve longevity, and enhance the aesthetic quality of cars, which in turn increases their resale value.
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Aging of vehicles and the declining trend of replacement of vehicles also tilt the balance in favor of car care service market. Car Care Product market is mainly driven by increasing safety and security needs by proper maintenance, higher customer awareness about vehicle upkeep and periodic maintenance mandated by governments backed by growing vehicle production.
According to report by BlueWeave Consulting, “Global Car Care Product Market, by Product Type, by Application, by Vehicle Type, by Region, Growth Potential, Competitive Market Share and Forecast, 2015-2025” The global car care product market is projected to grow with a significant growth rate during the forecast period 2018-2025.
Cleaning products segment dominates the global car care product with the maximum market share of the total Car Care Product and projected to lead the market over the forecast period 2018-2025. Making cars look good people are using hundreds of car-care products today. The growing demands for the motor vehicle are increasing gradually, resulting in increased consumer demand for after-market services such as car washes. The segment is mainly driven by interior cleaning and hand wax services followed by exterior cleaning, shampoo floor mats, and upholstery cleaning. Multipurpose products are fast acting, provide repellant and protection properties to ensure long-lasting cleaning benefits. Due to the multipurpose products, Odor neutralizing, ease of use, and environmentally friendly sustainable products.
On the basis of region, the car care products market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016 Europe dominates the global car care products with a maximum market share of the entire car care products market and projected to lead the market over the forecast period, 2018-2025. With used cars becoming a more viable option for first-time buyers, increased government scrutiny of the developing sales network would positively impact the independent aftermarket and thereby affect the demand for car care product market in the aftermarket segment.
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Lots of manufacturers of car care products offer a wide range of products to fit aftermarket requirements. Companies, such as 3M, Turtle Wax, Illinois Tool Works, Armored AutoGroup, SOFT99, SONAX, Tetrosyl, Northern Labs, Liqui Moly, Simoniz, Autoglym, Botny, Bullsone, BiaoBang, CHIEF, Rainbow, Mothers, Auto Magic are the key players in manufacturing car care product.
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