SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- The global silicone in car care products market size is anticipated to reach USD 275.0 million by 2028,according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.2% from 2021 to 2028. The market is anticipated to grow by the rising vehicle sales which have boosted the demand for protective covering and maintenance of premium-class vehicles, primarily for aesthetics and interior cleaning applications.
Key Insights & Findings from the report:
The market was valued at USD 216.97 million in 2020 and is estimated to grow at a CAGR of 3.2% from 2021 to 2028
The paint preservatives application segment is expected to witness the highest CAGR of 3.9% over the forecast period in terms of revenue. The significant CAGR is attributed to the use of silicones as paint preservatives which extend the lifespan of the coatings used in automobiles and prevent the formation of bubbles on surfaces
The increasing consumer awareness regarding vehicle maintenance and repair and growing demand for DIY car care products is expected to drive the market
Asia Pacific accounted for more than 40.0% of the overall revenue in 2020. Silicone in car care products market in the region is expected to witness a growth of 3.6% to reach a revenue of USD 128.02 million by 2028
In March 2021, Turtle Wax, Inc. introduced announced graphene-based hybrid solutions ceramic paste in India. It is infused with silicon dioxide ceramic and graphene technology to provide water repellency, slickness, excellent gloss, heat dissipation, chemical resistance, and UV protection for maintaining the surface finish of the vehicle.
Silicone offers durable water-repellency, lubricant properties, and abrasion resistance, making them suitable for automotive leather care applications. Silicone coating applied to leather improves the malleability and feel of the leather, making it pleasant to the touch. Specialty artificial leather is also made of silicone rubbers that are very flexible, stretchable, and less likely to degrade over time. Silicone artificial leather is used to manufacture seats, and the dashboard gives a more durable look and is much more resistant to temperature variations, aging, and UV exposure.
Major players are collaborating with distributors to increase the market reach for silicone in car care products. For instance, in September 2020, BRB International BV appointed ANDICOR SPECIALTY CHEMICALS for distribution of silicone products for industrial and car care, personal care, coatings, and inks; home; elastomers, and sealants and adhesives markets for Canada.
Many companies manufacturing car care products are launching new silicone-based products to protect and provide shine to the car interior. For instance, in August 2021, Champion Lubricants launched interior detailer spray (Part #4527) to provide shine to vinyl and plastic surfaces and also protect the car interior.
Regional penetration is one of the main strategic initiatives many silicone-based car care product manufacturers undertake to establish their market position globally. For instance, in June 2020, Turtle Wax, Inc., a global car care product brand, announced its entry into the Indian market. The brand launched its complete range of appearance products for four-wheelers and two-wheelers for every surface, including tires, paintwork, plastic, wheels, and others.
Grand View Research has segmented the global silicone in car care products market on the basis of product, application, end use, and region:
Silicone In Car Care Products Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Silicone In Car Care Products Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Leather & Vinyl Care
Tire Care Products
Silicone In Car Care Products End-user Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Silicone In Car Care Products Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Silicone In Car Care Products Market
CHT Group, Ltd.
Evonik Industries AG
Momentive Performance Materials Inc.
Henkel AG & Co. KGaA
Wacker Chemie AG
Shin-Etsu Chemical Co., Ltd.
LIQUI MOLY GmbH
Check out more studies related to car care, published by Grand View Research:
Car Care Products Market– The global car care products market size is expected to reach USD 14.48 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.3% from 2021 to 2028.
Car Wash Services Market– The global car wash services market size was valued at USD 27.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028. Growing consumer interest in automobile maintenance is one of the major factors driving the market.
Automotive Coatings Market–The global automotive coatings market is expected to reach USD 36.31 billion by 2025, according to a new report published by Grand View Research, Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.