Philippines car care products market is anticipated
to register growth with an impressive CAGR in the forecast period, 2024-2028,
on the account of surging demand for the prolonging the life of the automobiles
and maintaining its shine, and aesthetic looks. Increasing sales of the
commercial vehicles, personal cars, and higher rising disposable income among
the population is further driving the growth of the Philippines car care
products market in the upcoming five years.
Car care products include cleaning,
washing, waxing, sealing, coating exteriors & interior products. These
products are usually applied for prolonging the visual life of the automobiles.
The service based companies that provide car care & related services use
these product, while personal kits of the car care products are further gaining
popularity among the population.
Increasing Vehicle Fleet Drives Market
Growth
Increasing demand for ownership of car
and rising disposable income among the population for owning four-wheelers are
majorly driving the growth of the Philippines car care products market in the
upcoming five years. Although the country satisfies the growing demand for the
personal cars, and commercial cars through importing the products from the
neighboring countries, the assembling, revamping, and maintenance sector of the
industry is gaining higher sales and aiding market growth.
Car sales in the country had been
depleting in last century. It was only recently, after 2015 that the sales have
been increasing. In the year 2020, the country exceeded its last highest
sales record by selling 153.83 thousand units. Also, the demands for the
smaller and more economical cars have been increasing from small business
owners, farmers, fishermen, etc. for their regular and daily transportation
requirements, thus supporting the growth of the Philippines car care products market
in the future five years.
Expanding Automotive Industry Through
Manufacturer Growth
Philippines automotive industry expands
heavily due to the number of market players and active manufacturers of cars,
car parts, and car care products. Toyota Motors, the Japanese company has been
leading the country’s automotive industry for a few years now and it is
expected to keep the growth for next five years too. The company manufactured
over 161,385 vehicles in the year 2019 and hold the largest shares in
the country.
Local manufacturing, brand recognition,
and parts availability are some of the major reasons for the Japanese companies
leading the Philippines automotive industry, closely followed by the Korean
companies like KIA Motors. Government initiatives, favorable schemes like
progressive car manufacturing programs (PCMP), and car development programs
(CDP) the industry is anticipated to further grow and surge the demand for the
car care products too, thereby driving the growth of the Philippines car care products
market in the future five years.
Download Free Sample Report
Market Segmentation
The Philippines
car care products market is segmented by vehicle type, product type,
application, end use, distribution channel, competitional landscape, and
regional distribution. Based
on vehicle type, the market is further segmented into hatchback, sedan, and
SUV/MPV. Product type market segment is distinguished into cleaning &
washing, polishing & waxing, sealing glaze & coating, and others. By
application, the market is differentiated between interior and exterior. Based
on end use, the market is further bifurcated into service centers, garages,
individual sources, and others. On the basis of distribution channel, the
market is majorly divided between offline and online distribution channels. The
market analysis also studies the regional segmentation to devise regional
market segmentation, divided among National Capital Region (NCR), Region IV -
Southern Tagalog, Region III - Central Luzon, Region VII - Central Visayas,
Region I - Ilocos Region, and other regions.
Company Profile
Carbalen Car Care Products, Redox
Chemical Industries Ltd., Ma-Fra Spa, Stinger Chemical Corporation, Sonax
Philippines, Meguiar's Philippines,
among others is a partial list of major market players of the companies
responsible for the growth of Philippines car care products market.
Attribute | Details |
Base Year | 2022 |
Historical Data | 2018 –
2021 |
Estimated Year | 2023 |
Forecast Period | 2024
– 2028 |
Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
Report coverage | Revenue
forecast, company share, competitive landscape, growth factors, and trends |
Segments covered | ·
Vehicle Type ·
Product Type ·
Application ·
End Use ·
Distribution Channel |
Regional scope | National Capital Region (NCR), Region IV - Southern Tagalog,
Region III - Central Luzon, Region VII - Central Visayas, Region I - Ilocos
Region, and other regions. |
Key companies profiled | Carbalen Car Care Products, Redox Chemical Industries Ltd.,
Ma-Fra Spa, Stinger Chemical Corporation, Sonax Philippines, Meguiar's
Philippines |
Customization scope | 10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research
needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request) |
Report Scope:
In this report, Philippines car care products market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Philippines Car Care Products Market,
By Vehicle Type:
- Philippines Car Care Products Market,
By Product Type:
- Cleaning & Washing
- Polishing & Waxing
- Sealing Glaze & Coating
- Others
- Philippines Car Care Products Market,
By Application:
- Philippines Car Care Products
Market, By End Use:
- Service Centers
- Garages
- Individual Sources
- Others
- Philippines Car Care Products
Market, By Distribution Channel:
- Philippines Car Care Products Market,
By Region:
o National Capital Region (NCR)
o Region IV - Southern Tagalog
o Region III - Central Luzon
o Region VII - Central Visayas
o Region I - Ilocos Region
o Other Regions.
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Philippines car care products market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options
are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Philippines Car Care Products Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]