The global car care products market size was valued at USD 10.36 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2021 to 2028. Rapidly increasing automotive sales across the globe, a rise in consumer disposable income, and innovations in car washing techniques are expected to drive the market over the forecast period. Car care and appearance-enhancing products are being widely used in luxury cars and sports utility vehicles. Waxes and polishes are used for maintaining the shine of vehicles and offer protection. In addition, protectants and cleaners are used to maintain the appearance of the vehicle.
The market in the U.S. is expected to witness high growth over the forecast period on account of the presence of several large automotive players, such as General Motors, Ford Motors, and Tesla. In addition, the market in the U.S. is expected to benefit from the growing trend of automotive companies establishing service centers at small distances, coupled with the increasing consumer awareness regarding the maintenance of cars.
