The car scratch remover market comprises compounds and compounds used for eliminating superficial scratches and marks from car bodywork. Car scratch removers are available in liquid, paste, and cream forms and are applied using a soft cloth or applicator. They work by gently dissolving and removing the clear coat layer of paint affected by scratches, restoring the smooth appearance. Easy availability, affordability, and convenience of use are driving the demand for car scratch removers among car owners. The rising disposable income levels and growing middle-class population have led to higher car ownership, fueling the need for regular car maintenance products like scratch removers. The Global Car Scratch Remover Market Size is estimated to be valued at US$ 22.05 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the car scratch remover market are GrainPro Inc., PackFreshUSA, ShieldPro Flexible Packaging, SorbentSystems, IMPAK Corporation, Green Storage Ltd., LPS Industries LLC, Seal King Europe B.V., TPB Plastech Limited, Integra Packaging. The key players are investing in expanding their production facilities and distribution networks to consolidate their presence globally. Product innovation through advanced formulations that are effective yet safe on car paints also provides opportunities for growth. GrainPro Inc., for example, has a wide distribution network spanning over 100 countries.
The rising vehicle parc across regions presents significant opportunities for car scratch remover manufacturers. According to industry estimates, the global vehicle fleet is expected to rise from around 1.4 billion units in 2020 to over 2 billion by 2040. Car owners tend to spend more on appearance and health products for aging vehicles, boosting demand. Manufacturers are targeting emerging markets in Asia Pacific and Latin America through joint ventures and acquisitions to leverage high growth potential.
Market Drivers
The key driver for the car scratch remover market is the growing automotive production and sales globally. According to OICA, global passenger car production is estimated to surpass 90 million units by 2024 from around 75 million units in 2019. This is prompting more consumers to invest in car maintenance products like scratch removers for protecting vehicle exteriors.
Market Restrains
Volatility in raw material prices can hamper market growth. Most scratch removers contain solvents whose prices fluctuate based on crude oil rates. Supply constraints for specialty chemicals amidst the Covid-19 pandemic also acted as a short-term restrain. Stringent regulations regarding VOC content in many regions pose a challenge for product development.
Segment Analysis
The car scratch remover market can be segmented based on product type, car type and end use. In terms of product type, the automotive paste segment dominates as it is the easiest to use and provides quick results. It can easily fill up small scratches and scuffs on the car's exterior without leaving any residue. In terms of car type, the compact car segment accounts for the largest share as compact cars are affordable and have high sales volumes. In terms of end use, the individual segment dominates as car owners prefer repairing minor scratches on their own to avoid the costs of professional detailing.
Global Analysis
Regionally, North America holds the major share of the global car scratch remover market and is expected to continue its dominance during the forecast period. This is attributed to high car ownership and increasing annual miles driven per vehicle in the US and Canada. Moreover, the changing weather conditions often lead to the formation of scratches on car surfaces in this region. Europe holds the second largest share and the market in Europe is driven by countries like Germany, Italy, UK and France. The Asia Pacific region is expected to witness the fastest growth due to rising vehicle production and sales along with increasing disposable incomes in emerging economies like China and India.
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