Car Wash Detergents and Soaps Market to Incur High Value Growth at 5.1% CAGR During 2018 - 2028

Future Market Insights delivers conclusive information on the global car wash detergents and soaps market and provides substantial information through systematized market research. The report titled "Car Wash Detergents and Soaps Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028" assesses the market and forecasts the future market scenario on the basis of product type, form, sales and region. The car wash detergents and soaps market report reveals that the use of liquid form of car wash detergents and soaps is anticipated to account for prominent consumption (>50%) during the forecast period. The global car wash detergents and soaps market was pegged at US$ 7,043.6 Mn in terms of value at the end of 2017 and is expected to reach US$ 12,210.8 Mn by the end of the forecast period, registering a CAGR of 5.1%.

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Development of Innovative, Cost-Effective and Bio-Based Car Wash Detergents and Soaps to Positively Impact Market Growth

Increasing automotive production across the globe is creating significant opportunities for the automotive aftermarket, which in turn is surging the demand for car wash detergents and soaps. Economic growth in developing countries is expected to escalate in the coming years, which is expected to result in rapid industrialization and an increase in manufacturing activities. This will indirectly and directly affect the growth of the automotive fleet size. The growing automotive fleet size is expected to fuel the growth of the car wash detergents and soaps market.

Population growth and increasing urbanization in developing economies are expected to positively impact the car wash detergents and soaps market. Increasing spending of consumers towards car care to maintain the aesthetics and look of the car is a crucial factor driving the growth of the car wash and detergents market. Also, the shifting trend towards the utilization of professional car wash & car care products is expected to create substantial opportunities for high-end car care products. The development of innovative, cost-effective and bio-based car wash detergents and soaps is also expected to positively impact the car wash detergents and soaps market during the forecast period.

The increasing use of public transportation and two-wheelers, due to rising environmental awareness and the need to avert traffic congestion problems have been leading to a decline in the use of four-wheelers. Also, increasing regulations pertaining to car wash detergents and soaps are expected act as restraining factors for the growth of the car wash detergents and soaps market.

Liquid Form Car Wash Detergents and Soaps to Witness Strong Demand, due to their Ease of Application and Low Price Range

Car wash detergents and soaps are available in liquid, gel and foam based forms in the commercial market across the world. Attributing to their ease of application and low price range, liquid form car wash detergents and soaps have been witnessing significant demand. However, foam based car wash detergents and soaps are expected to witness a rise in demand, due to their superior finish quality. Despite their relatively high pricing, gel car wash detergents and soaps are expected to witness steady growth, due their long-lasting effect.

North America and Europe Pegged to be Prominent Markets for Car Wash Detergents and Soaps, due to Significant Shift from Do-It-Yourself Activities to Do-It-For-Me Activities

In Western European countries such as Germany and the Netherlands, car owners are prohibited from washing their cars at home; thus, the region has been witnessing the high uptake of professional car wash services. Also, with the increasing water scarcity problem in other countries of Europe, professional car wash activities in the region are expected to witness an upward trend. In some developed regions, there is a significant shift from Do-It-Yourself activities to Do-It-For-Me activities. Attributing to this, Europe and North America are estimated to be prominent markets for car wash detergents and soaps. In regions such as Asia Pacific, automotive production and vehicle fleet size have been witnessing robust growth, which has resulted in an increase in aftermarket activities. Therefore, Asia Pacific is estimated to be a promising market for car wash detergents and soaps.

With the implementation of regulations on in-house car wash activities in the Middle East and the increase in consumer spending capacity for car care and maintenance in Latin America and Africa, the LAMEA region is expected to be a potential market for car wash detergents and soaps.

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Car Wash Detergents and Soaps Market: Competitive Landscape

Some of the players listed in the analysis of the global car wash detergents and soaps market include 3M Company, Turtle Wax Inc., Chemical Guys Mfg Co., Spectrum Brand Holdings Inc., and Simoniz USA Inc.