Dublin, March 28, 2019 (GLOBE NEWSWIRE) -- The "Global Car Wax Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The analysts have predicted that the car wax market will register a CAGR of about 5% by 2023.

The global demand for automotive accessories is driving the global car wax market. The increase in the number of vehicles is spurring the demand for car waxing to enhance the resale value of vehicles, thereby driving the growth of the market in focus. Additionally, passenger cars and utility vehicles such as SUVs, multi-purpose vehicles, crossovers, and pickup trucks are becoming very popular in the automotive market.

As these vehicles are used for longer periods of time by the user, they require waxing to protect the paint from external pollutants and to maintain the sheen on the vehicle. As a result, the demand for car waxing among existing vehicle owners is increasing globally and is expected to spur the growth of the global car wax market during the forecast period.

Market Overview

Growing disposable incomes in key economies

The developed countries like the US are also witnessing economic growth after the global recession, which will have a positive impact on the growth of the market in focus as consumer spending on discretionary products is expected to rise. Thus, the car wax market is expected to benefit from the growing demand for automotive accessories due to the advantages it offers, such as protecting the paint and giving a showroom-like shine to the vehicle.

Growing use of ceramic coatings as a paint protection substitute

Paint protection has become a crucial part of the automotive accessories market. Car waxing is the most preferred paint protection technology used in the automotive industry. However, lately, advances in the form of ceramic paint coatings are emerging in the automotive industry, which will pose a challenge for the global car wax market.

Competitive Landscape

The market appears to be highly concentrated and with the presence of limited vendors. One of the major factors is the rising lifespan of the vehicles, which is consequently leading to a higher number of vehicles in prominent automotive countries. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY TYPE

• Market segmentation by type
• Comparison by type
• Synthetic wax - Market size and forecast 2018-2023
• Natural wax - Market size and forecast 2018-2023
• Market opportunity by type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2018-2023
• Europe - Market size and forecast 2018-2023
• APAC - Market size and forecast 2018-2023
• South America - Market size and forecast 2018-2023
• Middle East and Africa - Market size and forecast 2018-2023
• Key leading countries
• Market opportunity

PART 09: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 10: TRENDS

PART 11: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 12: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• 3M
• Henkel AG & Co. KGaA
• Malco Products, Inc
• Mothers
• SONAX GmbH
• Turtle Wax

PART 13: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/r/byrigk

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Related Topics: Wax

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