Asia Pacific Car Care Products Market Revenue to Exceed USD 4.4 Billion by 2027

1. Asia Pacific Car Care Products Market Revenue to Exceed USD 4.4 Billion by 2027: Graphical Research ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

2. By 2027, the Asia Pacific car care products market segment is expected to surpass $3.4 billion, driven by the rising demand for these regular use car products from car owners. Manufacturers have been introducing multi-purpose products that are gaining considerable popularity across the region, due to their advantages such as fast-acting, protection, and repellant properties. With the growing volume of demand for vehicles in general and for electric vehicles in particular across the automobile industry, the Asia Pacific car care products market has been presenting a promising scenario. The growing need for maintenance of cars is one of the primary reasons for the expansion of the market. As the number of purchases of luxury cars increases, the requirement for car care products are certain to witness an uptick. Regular car washing and servicing ensures optimal performance of the vehicle, simultaneously enhancing its lifespan. Luxury cars are gaining traction across the region, owing to their popularity amongst millennials and high net worth individuals (HNWIs). As old cars generally need frequent repairs due to continuous wear and tear, car care products are likely to see higher use across the segment. Car foam, car shampoo, microfiber cleaning cloth, ice scrapper, glaze, car polish, and car wax are some of the most used car care products. The utilization of these products not only improves the efficiency of the cars, but also adds to their aesthetic value. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

3. Browse detailed statistical insights from the report, “Asia Pacific Car Care Products Market” along with the table of contents (ToC) @https://bit.ly/3zdHZD5 Get sample copy of this research report @ https://www.graphicalresearch.com/request/1713/sample ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

4. The wax & cleaning segment accounted for nearly 70% of the total APAC car care market share during 2020. Car wax, car shampoo, car soap, and car polish are some of the most frequently used products under the segment. As car shampoo and car soap can efficiently eliminate dirt, tree sapping, bird droppings, and other undesirable substances from car surfaces, the demand for these products has been soaring. In terms of application, the DIY or do-it-yourself segment is expected to attain a considerable share in the Asia Pacific car care products market. The segmental growth can be attributed to the lower costs associated with these products. Numerous brands are demonstrating a shift toward eco-friendly materials for delivering sustainable car care products such as the no-rinse products that aim to save water. Simple parts such as glass, lighting products, electrical parts, and glass are comparatively less technical and easier to install when compared to larger parts such as exhaust systems. As a result, the demand for these easy-to-install parts has been rising. Online platforms have especially been catering to the need of DIY consumers, fueling the Asia Pacific car care products market outlook. The COVID-19 pandemic has been inducing financial restraints amongst the consumers, who have been looking for convenient and cheaper alternatives. At the same time people have tried avoiding contact to minimize the risk of contagion associated with the DIFM or do-it-for-me alternative. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

5. By 2027, China is projected to have claimed a major share of more than 40% in the Asia Pacific car care products market forecast. The development of the automobile and transport industries, in conjunction with the expanding spending power of individuals in the country has been responsible for the industry expansion. Car wash facilities in China have been adopting car wash apps and this might emerge as a major trend. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

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