Car Care Products Manufacturer offers a comprehensive suite of services designed to maintain and enhance the appearance and extend the life of automotive surfaces, increasing value and driving pleasure. These include products for restoring interiors, cleaning exteriors and protecting against the elements.
Stringent government regulations to upgrade or replace vehicles contribute to the growth of this industry, while antimicrobial car care products offer lucrative opportunities.
North America
Car care products are high-performing chemicals used to improve the appearance and durability of vehicles. These include pads, cleaners, sprays, waxes and anti-age moisturizers which can be purchased both through professional service stations as well as retail markets.
Optimum Polymer Technologies creates and sells specialty chemicals designed to restore vehicles and other surfaces to maximize value and appeal, as well as ensure customer safety and environmental responsibility. Their products serve a range of industries such as automotive, commercial solutions, consumer markets, design & construction, energy, electronics etc.
The global car care products market is projected to experience rapid growth, thanks to a surge in automotive manufacturing worldwide. Furthermore, this industry is experiencing gains from increasing car ownership among middle-class families; thus boosting demand for automotive polishes and waxes; in addition, rising disposable income levels have encouraged people to buy luxury vehicles, fuelling demand further for car care products.
Europe
European automotive care product markets are some of the most lucrative worldwide. This can be attributed to prominent vehicle manufacturers as well as an increase in car buyers that has had an effect on automotive care product demand.
As more consumers purchase second-hand vehicles, demand for car detailing products has skyrocketed. Car manufacturers have responded by developing products to improve vehicle appearance. Furthermore, stringent government regulations mandating replacement of car accessories will drive growth of the global car care product market.
Car care products utilize various raw materials, including leather detergent, solvents, blends of carnauba wax and polymers; rising prices for these raw materials could have an adverse impact on the market of these products during their forecasted lifecycle.
Asia Pacific
The global car care products market is anticipated to experience rapid expansion over the forecast period due to multiple factors, including increasing sales of passenger vehicles and rising used-car markets, which has driven an upsurge in demand for specialty products that can maintain both appearance and performance of these cars.
As sales of high-end and luxury cars increase, as do sales of electrically powered vehicles that need regular maintenance to preserve their premium appearance, driving up demand for car care products will also fuel this expansion of this global market. Furthermore, developments of anti-microbial car care products by key players will create additional opportunities in this market.
The global car care products market can be divided into five key areas: product type, solvent, application, vehicle type, distribution channel and region. Product categories include cleaning & washing, polishing & waxing and sealing glaze & coating while solvent types range from water-based solutions to foam solutions; application types range from professional end use to individual source use.
Rest of the World
Car care products provide vehicles with protection from accidental damage, boost performance and increase resale value, while offering comfort and pleasure to drivers by improving interiors, washing exteriors and protecting rims. Rising sales of luxury & electric cars coupled with rising disposable incomes in developing regions drive market expansion.
Government regulations mandating replacement of vehicle components drive demand for car care products, with manufacturers investing heavily to expand their range. Castrol partnered with 3M in May 2019 to develop bike and automobile care products like shampoo, glass cleaner, dashboard & tire dressers and cream wax to increase sales of this new solution.
COVID-19’s pandemic caused DIY auto-detailing services to decline significantly, thus impacting supply of car care products significantly. Although this impact has been felt throughout the industry, post-pandemic it should rebound. Furthermore, e-commerce platforms provide ample opportunity for car care product players to expand their businesses.