According to a new market report published by Lucintel, the future of the global car wax market looks promising with opportunities in the liquid form and paste form segments. The global car wax market is expected to grow with a CAGR of 5% from 2021 to 2026. The major drivers for this market are growing demand for automotive accessories, increase in the number of vehicles, and developing products for luxury vehicles.
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In this market, natural and synthetic wax is the major product types. On the basis of comprehensive research, Lucintel forecasts that synthetic wax will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to longer lifespan and growing demand for vehicles that enhance the features and equipment used to vehicles.
Within the global car wax market, the OEM segment is expected to witness the highest growth over the forecast period due to the increasing production of vehicles and growth of on-road vehicle fleet in the near future, which will boost the demand for car wax.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to increasing per capita disposable income in the region, which is adding to the increase in the region’s per capita spending on vehicle repair and maintenance.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of luxury-grade car wax, introduction of electric cars, and focus of market players on entering into long-term supply-agreements. 3M, Sonax GmbH, Turtle Wax Inc., Future Development (Manufacturing) Ltd. KAO Chemicals Ltd, Mothers Polishes Wax Cleaners Inc., Chempace Corporation, Treatment Products Ltd., Darent Wax Company Ltd., and Northern Labs Inc. are among the major suppliers of the car wax market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global car wax market by product type, form, end use, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Car Wax Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global car wax market by product type, form, end use, and region, as follows:
By Product Type [Value ($ Million) from 2015 to 2026]:
By Form [Value ($ Million) from 2015 to 2026]:
By End Use [Value ($ Million) from 2015 to 2026]:
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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