Indonesia Car Care Products Market is estimated to witness a rise in revenue from US$ 57.3 Mn in 2021 to US$ 73.5 Mn by 2027. The market is registering a growth at a CAGR of 4.2% during the forecast period 2022-2027. Car care products are essential at a point to keep the car running smoothly despite its age and condition. They are used for preventive measures and in a secure and usable order for vehicles. There are various kinds of car care products on the market that include wheel care, interior-exterior care, glass cleaner, paint restoration for older vehicles and many more. Moreover, there is a rise in the demand for car care products such as car polish and wax, trim cleaners and tire and rim protectors throughout the world as car care products assist in preserving the interiors of a used car, cleaning the outer body, extending the life of a vehicle and adding value to a used car. Improvement in car appearance, reduction in major breakdowns, and superior vehicle performance are some of the key reasons behind the rising importance of vehicle maintenance in recent times.
The major factors responsible for the growth of the Indonesia car care products market includes increase in sale of used cars and rising awareness regarding the vehicle maintenance. Used cars are also referred to as pre-owned cars that had one or more retail owners in the past. The used car market is served by unorganized players that include individuals, not organizations and various organized players such as Alibaba Group, eBay and Sun Toyota among others. Moreover, increasing importance and rising awareness regarding regular car maintenance of vehicles will drive the car care products market demand. Improvement in car appearance, reduction in major breakdowns, and superior vehicle performance are some of the key reasons behind the rising importance of vehicle maintenance in the recent times. Furthermore, development of anti-microbial car care and DIY products has provided ample of expansion opportunities to the market players. However, the usage of hazardous chemicals in car care products inhibits the growth in the car care products market as shampoos and foams, traffic film remover and acid wheel cleaner consist of strong acids and alkalis that can be a threat to users and can also damage the car paintwork if used in the wrong way.
Report Summary
The study of the Indonesia Car Care Products Market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the car care products industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Indonesia Car Care Products Market across 8 Chapters and 95 pages. The report includes data presentation across 4 tables and 17 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and competitive rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as product, application, packaging volume, retail channel and country. The report includes detailed study of value chain of the industry. It includes raw material suppliers, car care product manufacturers, distributors/market intermediaries and end users. The report also covers extensively about the key competitors in the market for car care products market.
Impact of COVID-19 on Indonesia Car Care Products Market
Due to the outbreak of the COVID-19 pandemic, lockdowns were imposed all around the nation, which included restrictions on auto beauty shops, service centers and garages, thereby affecting the consumption of DIFM car care products. But simultaneously, the use of e-commerce platforms by leading players to make the distribution of car care products during lockdowns. Hence, car owners started taking care of their vehicles with the help of DIY car care products from online platforms and demand for DIY products increased during the pandemic. Moreover, COVID-19 also increased the demand for internal hygiene of a vehicle for all the passengers. However, this pandemic decreased the overall demand of car care products.
Key Takeaways from the Indonesia Car Care Products Market
Strategic Outlook of the Key Players
Competitive Landscape
The key players in the Indonesia Car Care Products Market are 3M Company, Armor All, Autoglym, BULLSONE Co. Ltd, Cartec B.V., Chemical Guys, Illinois Tool Works, Jopasu India Pvt. Ltd., LIQUI MOLY GmbH, Simoniz USA Inc, SOFT99 Corporation, Sonax GmbH, Tetrosyl Ltd., Turtle Wax and WAVEX among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
Indonesia Car Care Products Market is segmented based on product, applications, packaging volume, retail channel and country. The industry trends in the car care products market are sub-divided into different categories in order to get a holistic view of the Indonesia marketplace.
Following are the different segments of the Indonesia Car Care Products Market:
By Product segment of the Indonesia Car Care Products Market is sub-segmented into:
By Applications segment of the Indonesia Car Care Products Market is sub-segmented into:
By Packaging Volume segment of the Indonesia Car Care Products Market is sub-segmented into:
By Retail Channel segment of the Indonesia Car Care Products Market is sub-segmented into:
Car care products are essential at a point to keep the car running smoothly despite its age and condition. Car care products are basically high performing chemicals used to enhance the car brightness, lustre and durability.
There is a rise in the demand for car care products such as car polish and wax, trim cleaners and tire and rim protectors throughout the world as car care products assist in preserving the interiors of a used car, cleaning the outer body, extending the life of a vehicle and adding value to a used car.
Interior segment is the leading application type in the car care products market.
The Indonesia car care products market is studied from 2017-2027.
The different segmentations of the Indonesia car care products market are product, application, packaging volume, retail channel and country.
Development of anti-microbial car care and DIY products has provided a lucrative growth opportunity in the Indonesia car care products market.
The growth rate of the Indonesia car care products market is 4.2%, with an estimated value of US$ 73.5 Million by 2027.
Factors such as increase in sale of used cars and rising awareness regarding the vehicle maintenance drives the growth in the Indonesia car care products market during the forecast period.
Usage of hazardous chemicals in car care products is a restraining factor which inhibits the growth of the market during the forecast period.
The interior segment is anticipated to grow at the highest CAGR during the forecast period.
The outbreak of COVID-19 resulted in disruptions in the supply chain and production of new cars. It also negatively affected the purchasing power of a large section of customers wanting to buy a new car, which increased demand for used cars across the world.
Manufacturers are focusing on developing ecofriendly and non-toxic car care products to gain the market share as well as reducing the prices of bio-based products which will boost the growth of the market.
The key players operating in the market include 3M Company, Armor All, Autoglym, BULLSONE Co. Ltd, Cartec B.V., Chemical Guys, Illinois Tool Works, Jopasu India Pvt. Ltd., LIQUI MOLY GmbH, Simoniz USA Inc, SOFT99 Corporation, Sonax GmbH, Tetrosyl Ltd., Turtle Wax and WAVEX among others.
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