Report : Asia Pacific Car Care Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Products (Cleaning Products, Polishing and Waxing Products, Fresheners, and Others), Application (Interior and Exterior), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 6.1% CAGR, the Asia Pacific Car Care Products Market is projected to be worth US$ 3,129.44 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific car care products market was valued at US$ 2,191.48 million in 2022 and is expected to reach US$ 3,129.44 million by 2028, registering a CAGR of 6.1% from 2022 to 2028. Surge in use of eco-friendly car care products and recovery in passenger car sales are the critical factors attributed to the Asia Pacific car care products market expansion.
The growing environmental consciousness among people is increasing the demand for better eco-friendly detailing and biodegradable products. Furthermore, 68% of Gen Z shoppers purchased an eco-friendly product in 2018. Hence, the demand for eco-friendly car care products is also rising. The need for eco-friendly car cleaning products is growing as people are becoming more aware of the consequences of the toxic chemicals that are generally used in the traditional cleaning products. Car care product manufacturers are also developing products that clean, protect, and beautify cars while having minimal impact on the environment. They are increasing their customer base by highlighting the use of their eco-friendly products and equipment. Environmentally friendly car wash soap is made from sustainable materials and is often biodegradable. Further, there is also a high demand for organic car air fresheners over harmful chemical-based air fresheners. Organic car air fresheners contain essential oil, which emits a relaxing and soothing fragrance. Therefore, the surge in the use of eco-friendly car care products is expected to emerge as a key trend in the Asia Pacific car care products market during the forecast period.
On the contrary, rising preference for commercial car care services hurdles the growth of Asia Pacific car care products market.
Based on products, the Asia Pacific car care products market is segmented into cleaning products, polishing and waxing products, fresheners, and others. The fresheners segment held 50.9% share of Asia Pacific car care products market in 2022, amassing US$ 1,116.01 million. It is projected to garner US$ 1,595.98 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on application, the Asia Pacific car care products market is bifurcated into interior and exterior. The interior segment held 71.2% share of Asia Pacific car care products market in 2022, amassing US$ 1,559.44 million. It is projected to garner US$ 2,263.44 million by 2028 to expand at 6.4% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific car care products market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 37.3% share of Asia Pacific car care products market in 2022, amassing US$ 817.00 million. It is projected to garner US$ 1,158.97 million by 2028 to expand at 6.0% CAGR during 2022–2028.
Based on country, the Asia Pacific car care products market has been categorized into Australia, Australia, China, India, Japan, South Korea, and the Rest of APAC, India, Japan, South Korea, and the Rest of APAC. Our regional analysis states that China captured 66.2% share of Asia Pacific car care products market in 2022. It was assessed at US$ 1,450.82 million in 2022 and is likely to hit US$ 2,079.51 million by 2028, exhibiting a CAGR of 6.2% during the forecast period.
Key players profiles in the Asia Pacific car care products market report 3M Co; Adolf Wurth GmbH & Co KG; Cartec BV; Holt Lloyd International Ltd; Pidilite Industries Ltd; Shell Plc; Soft99 Corp; SONAX GmbH; Tetrosyl Ltd; and Turtle Wax Inc, among others.
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