The Car Scratch Remover Market is estimated to be valued at US$ 19.14 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Car scratch remover products are used to repair minor scratches, swirl marks, and defects on car surfaces like paintwork. These products are available in liquid, paste, and cream forms for user convenience. They contain mild abrasives that help gently remove superficial scratches by leveling the peaks and filling the valleys without affecting the underlying paint. This restoration of a smooth surface hides scratch visibility. Some advanced removers also contain polymers and sealants that help protect the repaired area from future damage. They provide a cost-effective and user-friendly solution for regular car care and maintenance.
Market Dynamics:
The growth of the global car scratch remover market is driven by the increasing vehicle fleet across major economies coupled with rising consumer spending on car aesthetics and visual appearance. Growing car care and detailing industry has surged the demand for effective DIY scratch and swirl removers. Furthermore, busy lifestyles have fueled the need for convenient car maintenance products that save time and effort of visiting repair shops. This has augmented market revenues. However, availability of low-cost counterfeit products may hinder market expansion. On the other hand, innovation in nanotechnology-based formulations providing scratch-proof properties presents lucrative opportunities for market players.
Segment Analysis
The car scratch remover market is dominated by the automotive refinish sub-segment owing to the growing vehicle fleet across regions. Automotive refinishing involves the repair and refurbishment of vehicles with the help of car scratch removers that help restore visual appeal by removing light scratches.
PEST Analysis
Political: Regulations pertaining to VOC emissions from automotive coatings and paints are favouring the demand for eco-friendly and water-based car scratch removers.
Economic: Rising disposable income and growing automotive sales are propelling the car scratch remover market size.
Social: Young population preferring personal vehicles along with rising vehicle ownership is driving the aftermarket for car care and car scratch removal products.
Technological: Advances in nanotechnology and formulation development are enabling manufacturers to offer innovative and more effective solutions for removing deep scratches with minimal effort.
Key Takeaways
The Global Car Scratch Remover Market Demand is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing vehicle ownership across regions. The Asia Pacific region is expected to witness the fastest growth in the car scratch remover market over the forecast period. Rising vehicle fleet and increasing disposable income in emerging economies such as China and India are driving the demand.
Key players operating in the car scratch remover market are 3M Company, Turtle Wax, Inc., Meguiar's, Inc., Simoniz USA, Inc., WD-40 Company, Quixx GmbH, Langka Corporation, Scholl Concepts GmbH, Würth Group, BARDAHL Manufacturing Corporation, Gtechniq Ltd., Mothers Polishes, Waxes and Cleaners, SONAX GmbH, Chemical Guys, Surf City Garage. The car scratch remover market is highly fragmented with the presence of several global as well as domestic players. Key players are focused on introducing eco-friendly solutions to garner increased market share.
The global car scratch remover market size for 2023 is estimated to be US$ 19.14 Bn. Rising automotive aftermarket industry across developing nations is expected to drive the consumption of car scratch removers during the forecast period.
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