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Car Care Solvents Market Research
The car care solvents industry is a segment of the automotive industry that focuses on producing and providing various solvents and cleaning agents.
NEW CASTLE, DELAWARE, UNITED STATES, September 27, 2023 /EINPresswire/ -- The car care solvents industry is a segment of the automotive industry that focuses on producing and providing various solvents and cleaning agents used in the maintenance and care of vehicles. These solvents are essential for cleaning, degreasing, and maintaining the exterior and interior of automobiles. The industry plays a crucial role in ensuring the longevity and aesthetics of vehicles, as well as meeting environmental and safety standards.
As per the report, the global car care solvents industry was pegged at $1.1 billion in 2021, and is expected to reach $2.0 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
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Key components of the car care solvents industry include:
Cleaning Solvents: These are used to remove dirt, grease, oil, and other contaminants from a vehicle's exterior surfaces. Common cleaning solvents include car wash soaps, degreasers, and tar removers.
Interior Cleaning Agents: These products are designed for cleaning and maintaining the interior of a vehicle, including upholstery, carpets, and dashboards. Interior cleaning agents often include upholstery cleaners, carpet shampoos, and interior surface protectants.
Strict government regulations to promote cleanliness of cars, increase in disposable income, and surge in investment of customers in repair and maintenance activities have boosted the growth of the global car care solvents market. However, use of fossil fuels and fluctuations in crude oil prices hamper the market growth. On the contrary, rise in trend of vehicle customization would open new opportunities for the market players in the coming years.
Polishes and Waxes: Polishes and waxes are used to enhance the appearance of a vehicle's paint and protect it from environmental damage. They provide shine and protection against UV rays and oxidation.
Rust Inhibitors: Rust inhibitors are used to prevent and treat rust on a vehicle's metal surfaces. They help extend the lifespan of the vehicle by protecting against corrosion.
The propylene glycol segment is estimated to portray the highest CAGR of 6.8% during the forecast period, due to increase in awareness among car owners to keep their cars clean. However, the acetone segment held the largest share in 2021, accounting for around one-fourth of the global car care solvents market, and is expected to continue its dominance throughout the forecast period. This is owing to growing application of acetone as a car care solvent for automotive cleaning, paint restoration, degreasing, and others.
Glass Cleaners: These products are used to clean and maintain a vehicle's windows and mirrors, ensuring visibility and safety while driving.
Tire and Wheel Cleaners: Tire and wheel cleaners remove brake dust, dirt, and grime from the tires and wheels, enhancing the overall appearance of the vehicle.
The service centres and garages segment held the largest share in 2021, contributing to nearly four-fifths of the global car care solvents market, and is expected to maintain leading position during the forecast period. In addition, the segment is projected to manifest the highest CAGR of 6.3% during the forecast period, owing to increasing investment of customers in repair & maintenance activities and government of some countries including Dubai and Russia impose fines on driving dirty cars., which encouraged customers to visit car washing stations. The report includes analysis of personal segment as well.
Adhesives and Sealants: Some car care solvents are used for adhesive removal or applying sealants and adhesives for various automotive purposes.
Environmentally Friendly Products: In recent years, there has been a growing emphasis on eco-friendly and biodegradable car care solvents to minimize the environmental impact of vehicle maintenance.
The global car care solvents market across Asia-Pacific held the largest share in 2021, accounting for nearly half of the market. Moreover, the region is expected to register the highest CAGR of 6.8% during the forecast period, owing to rise in the involvement of original equipment manufacturers (OEMs) in the aftermarket industry combined with the consolidation of car care solvent distributors and growth in automotive and retain sectors. The report includes analysis of the market across North America, LAMEA, and Europe.
The car care solvents industry serves various customer segments, including individual vehicle owners, car detailing businesses, automotive service centers, and car wash facilities. It also caters to the specific needs of different types of vehicles, such as cars, trucks, motorcycles, and recreational vehicles (RVs).
Regulations and environmental concerns are significant factors in the car care solvents industry. Many countries have implemented regulations to limit the use of certain chemicals in automotive solvents to reduce their impact on the environment and public health. As a result, the industry has seen a shift towards more environmentally friendly and biodegradable products.
Major Market Players
- ASELSAN A.S.
- Honeywell International Inc
- General Dynamics Corporation
- Israel Aerospace Industries Ltd.
- Indra
- Leonardo S.p.A.
-L3Harris Technologies, Inc
- Thales
- Norsat International Inc.
- Viasat Inc.
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