Philippines Car Care Products Market By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Product Type (Cleaning & Washing, Polishing & Waxing, Sealing Glaze & Coating, Others), By Application (Interior, Exterior), By End Use (Service Centers, Garages, Individual Sources, Others), By Distribution Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPhilippines Car Care Products Market By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Product Type (Cleaning & Washing, Polishing & Waxing, Sealing Glaze & Coating, Others), By Application (Interior, Exterior), By End Use (Service Centers, Garages, Individual Sources, Others), By Distribution Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2028
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.
In the year 2020, the country exceeded its last highest sales record by selling 153.83 thousand units.
Expanding Automotive Industry Through Manufacturer Growth
161,385 vehicles in the year 2019
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.
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.
Company Profile
Carbalen Car Care Products, Redox Chemical Industries Ltd., Ma-Fra Spa, Stinger Chemical Corporation, Sonax Philippines, Meguiar's Philippines
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