DUBLIN--(BUSINESS WIRE)--The "Global Car Wax Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The car wax market will register a CAGR of about 5% by 2023.
The global demand for automotive accessories is driving the global car wax market. The increase in the number of vehicles is spurring the demand for car waxing to enhance the resale value of vehicles, thereby driving the growth of the market in focus. Additionally, passenger cars and utility vehicles such as SUVs, multi-purpose vehicles, crossovers, and pickup trucks are becoming very popular in the automotive market.
As these vehicles are used for longer periods of time by the user, they require waxing to protect the paint from external pollutants and to maintain the sheen on the vehicle. As a result, the demand for car waxing among existing vehicle owners is increasing globally and is expected to spur the growth of the global car wax market during the forecast period.
Growing disposable incomes in key economies
The developed countries like the US are also witnessing economic growth after the global recession, which will have a positive impact on the growth of the market in focus as consumer spending on discretionary products is expected to rise. Thus, the car wax market is expected to benefit from the growing demand for automotive accessories due to the advantages it offers, such as protecting the paint and giving a showroom-like shine to the vehicle.
Growing use of ceramic coatings as a paint protection substitute
Paint protection has become a crucial part of the automotive accessories market. Car waxing is the most preferred paint protection technology used in the automotive industry. However, lately, advances in the form of ceramic paint coatings are emerging in the automotive industry, which will pose a challenge for the global car wax market.
Competitive Landscape
The market appears to be highly concentrated and with the presence of limited vendors. One of the major factors is the rising lifespan of the vehicles, which is consequently leading to a higher number of vehicles in prominent automotive countries.
This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- 3M
- Henkel AG & Co. KGaA
- Malco Products Inc.
- Mothers
- SONAX GmbH
- Turtle Wax
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY TYPE
- Comparison by type
- Synthetic wax - Market size and forecast 2018-2023
- Natural wax - Market size and forecast 2018-2023
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Middle East and Africa - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DRIVERS AND CHALLENGES
PART 10: TRENDS
PART 11: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- 3M
- Henkel AG & Co. KGaA
- Malco Products Inc.
- Mothers
- SONAX GmbH
- Turtle Wax
For more information about this report visit https://www.researchandmarkets.com/research/v9gtn7/global_car_wax?w=4
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Related Topics: Wax