CHICAGO, UNITED STATES, November 21, 2022 / EINPresswire. com / — Philippines Car Care Products Market revenue was US$ 57. 3 Mn in 2021 and the market is forecast to reach US$ 73. 5 Mn by 2027, growing at a CAGR of 4. 2% during the forecast period 2022-2027.
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Car maintenance items are necessary to maintain the smooth operation of vehicles despite their age and state. They are placed in a safe and usable order for automobiles and are utilized as preventative measures. Many types of car care products are available in the market, including glass cleaners, interior-exterior care, paint restoration for older vehicles, wheel care, etc . Additionally , there is an increase in demand for car care items like tire and rim protectors, trim cleaners, car polish, plus wax. Car care products help to extend the vehicle’s life, clean the exterior, preserve the interiors of an used car, and increase the value of an used automobile.
Market Influencing Factors
The factors driving the particular growth of the Indonesia car care products market are a rising sale of used cars plus growing awareness concerning vehicle care. Both unstructured companies—individuals rather than organizations—and several organized businesses such as Alibaba Group, eBay, and Sun Toyota among others—serve the used automobile industry. For instance, during the pandemic, demand for certified used cars increased by 600% on the used car marketplace Carro. The program allowed customers to buy cars online and conduct test drives at home.
Moreover, the rising importance and increasing awareness about regular car care of vehicles will boost vehicle care product demand, thereby driving market growth in the future. The few factors driving the growing importance of vehicle maintenance in recent years include a reduction in significant breakdowns, an enhancement within car looks, and improved vehicle performance.
Additionally , the trend of DIY anti-microbial auto care products has given industry participants several opportunities to grow in the market. Anti-microbial car care products help passengers and drivers in preventing various illnesses and health problems brought on by bacterial infection. In addition , the particular NCBI found a wide variation in the number and the type of bacteria in the cars, with Staphylococcus and Propionibacterium being the most common genera. For instance, in Dec 2020, Turtle Wax, an American vehicle aesthetic product producer unveiled Byotrol24, a cleanser and disinfection with regard to automobile interiors. With a 24-hour surface sanitizing action, Byotrol24 is a cleaner and disinfectant that can kill over 99. 9% of germs, including respiratory syncytial viruses, cold and flu viruses, norovirus, rotavirus, and even coronavirus.
However , the use of dangerous chemicals in car care products restrains the growth of the market. A shampoo, foam, acid wheel cleaner, and traffic film remover all contain powerful acids plus alkalis that can damage car paintwork when used improperly.
Impact Analysis of COVID-19
The COVID-19 pandemic had a significant impact on the Indonesian economy. The country’s government implemented a lockdown, including limitations on auto beauty salons, service centers, and garages, which had an impact on the use of car maintenance systems. However , major players are now using e-commerce platforms to facilitate the provision associated with car maintenance supplies during lockdowns. As a result, DIY vehicle maintenance goods from online marketplaces were used by car owners to maintain their automobiles, and demand for these products rose during the pandemic. In addition , COVID-19 raised the interior hygiene requirement for every vehicle passenger.
In 2021, based on product, the car wax and polish segment had a leading position in the market due to its broad use for the safety of the vehicle’s exterior surface from stains & smudges. On the other hand, microfiber cloth is likely to have the highest growth rate over the projection period.
Within 2021, based on application, the interior segment dominated the Indonesia car care products market share and is forecast to grow at throughout the prediction period. An interior section of the car care industry consists of products that are utilized to preserve an automobile’s interior.
In 2021, based on packaging volume, the 501 – 999 ml segment had a leading position in the market as this range is a desired choice among small workshops, people, and independent repair shops. On the other hand, the less than 250ml portion will grow at the highest growth rate over the analysis period owing to the increasing trend of professional vehicle washing services.
In 2021, in terms of retail channels, the offline segment accounted for the leading Philippines car care products market share. However, the online selling segment will experience the highest growth rate from 2022 to 2027.
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The prominent companies profiled in the Indonesia car care products market are:
BULLSONE Co. Ltd.
Illinois Tool Works
Cartec B. V.
LIQUI MOLY GmbH
Simoniz USA Inc
Jopasu India Pvt. Ltd.
Other Prominent Players
The Indonesia Car Care Products Market segmentation focuses on Products, Applications, Packaging Volume, plus Retail Channels.
Segmentation based on Product
Car Wash Solution/Liquids
Car Wax & Polish
Segmentation based on Applications
o Carpet & Upholstery
o Leather Care
o Vinyl, Rubber, and Plastic Care
o Air Freshener
o Paint Care
o Wheel & Tyre Care
o Glass & Windshield Treatment
o Seasonal Care Products
Segmentation based on Packaging Volume
Less than 250 ml
251 – 500 ml
501 – 999 ml
1 L – five L
Above 5 L
Segmentation based on Retail Channel
o Vehicle Distributor/Brand Stores
o Spare & Parts Shops
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