The automotive beauty market size was valued at USD 12.02 Billion in 2022 and is likely to reach USD 18.49 Billion by 2031, expanding at a CAGR of 4.9% during 2023 – 2031.The growth of the market is attributed to the increase in sale of new vehicles, rise in consumer awareness regarding vehicle maintenance, advancements in car wash technology, growth in vehicle production, and rise in the disposable income of consumers.
Automotive beauty refers to the technology and beauty care products used for an automotive to maintain it. Products used in the automotive beauty market offers the utmost care to every part of the vehicle. For instance, exterior surface cleaners assist to get rid of road grime, dirt, and dust. Moreover, specialized cleaners are utilized for removing tar and grease. Automotive beauty improves the aesthetic quality of cars, prevents unwanted accidents, and improves vehicle longevity, which in turn, boosts its resale value.
Market Trends, Drivers, Restraints, and Opportunities
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Increase in vehicle production and rise in the sale of premium vehicles are expected to boost the global automotive beauty market during the forecast period.
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Growth in standard of living and purchasing power of consumers is projected to drive the market.
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Automotive beauty treatments and products protect vehicles from the environment and improve the original quality and longevity of the vehicles, which in turn, improves their resale value. Automobile aging and diminishing trend towards vehicle replacement is projected to boost the market growth during the forecast period.
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High costs associated with automotive beauty products restrain the market growth.
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People in developing and underdeveloped countries are less expected to invest in automotive beauty products due to the lack of purchasing power and awareness, which in turn, is expected to impede the market.
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Over use of beautification products and treatments can harm the exterior of the vehicle. Moreover, pressure washers on the exteriors can cause dents. These factors are projected to have a hamper the automotive beauty market.
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Chemicals utilized in automotive beauty products are hazardous to the nature. Hence, governments have implemented policies, thus reducing the demand and supply of automotive beauty products.
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Bio-based automotive beauty products, such as soaps and detergents, are the recent trend that has shaped the manufacturers product development procedures. Their inexpensive price and ease of use are expected to create opportunities in the market during the forecast period.
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Rapid growth of the automotive industry in the developing countries is expected to offer numerous opportunities for the market players to develop their product portfolios and reach during the forecast period.
Scope of Automotive Beauty Market Report
The report on automotive beauty market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes
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Details
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Report Title
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Automotive Beauty Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 & 2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Cleaning and Caring, Polishing and Waxing, Sealing Glaze and Coating, Interior Maintenance, and Others), Applications (4S Stores, Auto Beauty Shops, Personal Use, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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Turtle Wax, Inc., Tetrosyl Ltd., Swissvax USA LLC, Sonax USA, SOFT99 corporation, Simoniz USA, Rainbow Auto Service and Sales, Pit Stop Auto Care, LIQUI MOLY, Jewelultra, Guangzhou Botny Chemical Co., Ltd. ,Granitize, Cougar Chemical, Collinite, CHIEF CAR CARE, Cartec B.V, Brookside Import Specialties, Autoglym, Auto Magic, and 3M
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Automotive Beauty Market Segment Insights
Based on types, the automotive beauty market can be divided into cleaning and caring, polishing and waxing, sealing glaze and coating, interior maintenance, and others. The cleaning and caring segment is projected to dominate the market during the forecast period owing to the increasing demand for waterless dry car wash, rising environmental concerns, and the ease of accessibility the products offer. The interior maintenance segment is projected to grow at a substantial pace during the forecast period owing to increasing demand for maintaining the interior of the vehicles.
Polishing and waxing products remove residue, grime, and dirt, while providing a smooth texture to the interior materials.
In terms of applications, the market can be segregated into 4S stores, auto beauty shops, personal use, and others. The 4S store segment is projected to dominate the global automotive beauty market during the forecast period. 4S stands for service, sales, spare parts, and surveys. A 4S store is a one stop shop solution for automotive beauty of vehicles.
On the basis of regions, the global automotive beauty market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global automotive market during the forecast period owing to the presence of leading vehicle manufacturers and resource availability and skilled workforce in the region. Additionally, increase in per capita income and rise in the demand for automotive beauty products owing to rise in premium car sales is expected to drive the market in Asia Pacific.
Segments
By Types
- Cleaning and Caring
- Polishing and Waxing
- Sealing Glaze and Coating
- Interior Maintenance
- Other
By Applications
- 4S Stores
- Auto Beauty Shops
- Personal Use
- Other
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
- Turtle Wax Inc.
- Tetrosyl Ltd.
- Swissvax USA LLC
- Sonax USA
- SOFT99 corporation
- Simoniz USA
- Rainbow Auto Service and Sales
- Pit Stop Auto Care
- LIQUI MOLY
- Jewelultra
- Guangzhou Botny Chemical Co.
- Ltd.
- Granitize
- Cougar Chemical
- Collinite
- CHIEF CAR CARE
- Cartec B.V
- Brookside Import Specialties
- Autoglym
- Auto Magic
- 3M
Competitive Landscape
Key players in the global automotive beauty market include Turtle Wax, Inc., Tetrosyl Ltd., Swissvax USA LLC, Sonax USA, SOFT99 corporation, Simoniz USA, Rainbow Auto Service and Sales, Pit Stop Auto Care, LIQUI MOLY, Jewelultra, Guangzhou Botny Chemical Co., Ltd. ,Granitize, Cougar Chemical, Collinite, CHIEF CAR CARE, Cartec B.V, Brookside Import Specialties, Autoglym, Auto Magic, and 3M. These players are engaged in strategies such as product launches, acquisitions, contracts and agreements, and partnerships to maintain their position in the market.
3M is the prominent player in the global automotive beauty market. It has a varied portfolio and is one of the oldest market players. The company has a presence globally through its strong network and concentrated in all the market segments.