Latin America Car Care Products Market Size & Outlook
Latin America car care products market, 2017-2030 (US$M)
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Latin America car care products market highlights
- The Latin America car care products market generated a revenue of USD 579.5 million in 2021.
- The market is expected to grow at a CAGR of 3.3% from 2022 to 2030.
- In terms of segment, car cleaning products was the largest revenue generating product in 2021.
- Car Cleaning Products is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2022 to 2030.
Latin America data book summary
| Market revenue in 2021 | USD 579.5 million |
| Market revenue in 2030 | USD 774.5 million |
| Growth rate | 3.3% (CAGR from 2021 to 2030) |
| Largest segment | Car cleaning products |
| Fastest growing segment | Car Cleaning Products |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Car Cleaning Products, Car Polish, Car Wax, Wheel & Tire Care Products, Glass Cleaners, Interior Care Products |
| Key market players worldwide | 3M Co, Sonax, Tetrosyl Limited, Chemical Guys, Wurth Group, MA-FRA, Cartec, Turtle Wax, Inc, Liqui Moly, Autoglym, Mothers, Adam’s Polishes, Griot's Garage, Jopasu |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.7% of the global car care products market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,494.1 million by 2030.
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Car Care Products Market Scope
Car Care Products Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America car care products market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to car care products market will help companies and investors design strategic landscapes.
Car cleaning products was the largest segment with a revenue share of 26.83% in 2021. Horizon Databook has segmented the Latin America car care products market based on car cleaning products, car polish, car wax, wheel & tire care products, glass cleaners, interior care products covering the revenue growth of each sub-segment from 2017 to 2030.
The demand for car care products in Central & South America is expected to increase in the forecast period which can be attributed to lower interest rates and improving consumer confidence.
Growing urbanization, low labor, and land costs have prompted OEMs in the region to invest more in the region, allowing them to build new facilities and expand their production capabilities to improve their market share and meet the growing demand in export markets.
Countries such as Brazil Argentina and Chile are mature automotive markets and are expected to generate a significant share of demand in terms of revenue. In 2018, Brazil’s government implemented Rota 2030, a new tax incentive program for the Brazilian automotive sector that replaces the InovarAuto program, which expired in 2017.
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Our clientele includes a mix of car care products market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America car care products market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America car care products market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America car care products market size, by country, 2017-2030 (US$M)
Latin America Car Care Products Market Outlook Share, 2021 & 2030 (US$M)
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