Indonesia Car Care Products Market | Global Market Shares, Latest Trends, Strategies and Forecast 2021-2027
March 21, 2023
The car care products market in Indonesia is expected to grow at a CAGR of 4.2% during the forecast period, 2021-2027. The growth of this market can be attributed to increasing demand for vehicles and rising disposable income of consumers. However, high import duties on these products may hinder their growth in the country.
Market Size and Growth
The car care products market in Indonesia is projected to grow at a CAGR of 4.2% during the forecast period, from USD 57.3% Million in 2021 to USD 73.5% billion by 2027. The growth of this market can be attributed to increasing demand for premium car care products, rising disposable income levels, and increasing number of vehicles on roadways in Indonesia.
The increase in purchasing power coupled with growing awareness about car care products among consumers will drive sales of premium products such as waxes and polishes over time.
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The Car Care Products Market in Indonesia is highly competitive. The market is dominated by major players such as P&G, Unilever and Henkel. These companies have been focusing on increasing their market share through various strategies like new product launches and acquisitions.
In order to compete effectively with these established brands, new entrants need to develop innovative products that can cater to the specific needs of customers in Indonesia. For instance, if a customer wants a specific brand of shampoo that cleanses hair without stripping it off its natural oils then this would be an opportunity for new entrants since there are no other products on the market which fulfill such requirements at present
Competitive Landscape
The key players in the Indonesia Car Care Products Market are 3M Company, Armor All, Autoglym, BULLSONECo. Ltd, CartecB.V., Chemical Guys, Illinois Tool Works, Jopasu
India Pvt. Ltd., LIQUI MOLY GmbH, Simoniz USA Inc, SOFT99 Corporation, Sonax GmbH, Tetrosyl Ltd., Turtle Wax and WAVEX among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers &acquisitionsinordertohaveagripofemergingmarket.Furthermore,leadingcompanies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Conclusion
The Indonesian car care products market is expected to grow at a CAGR of 6.5% between 2017 and 2022. The key factors driving this growth are rising disposable income, increasing number of cars, and growing demand for personal care products. TheIndonesiancarcareproductsmarkethasbeensegmentedonthebasisofproduct type into waxes, polishes & cleaners; tire dressings; leather conditioners; interior cleaners&protectants;exteriorcleaners&protectants;glasscleaners&polish;engine degreasers/cleaners; wheel cleaners/polishes etc., while its application has been divided into auto detailing shops (full service), independent detailers (self-service) & do-it-yourselfers (DIY).
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Segmentation Overview
Indonesia Car Care Products Market is segmented based on product, applications, packagingvolume,retailchannelandcountry.Theindustrytrendsinthe carcareproducts market are sub-divided into different categories in order to get a holistic view of the Indonesia marketplace.
Following are the different segments of the Indonesia Car Care Products Market: By Product segment of the Indonesia Car Care Products Market is sub-segmented into:
• Car Wash Solution/Liquids
• Car Wax & Polish
• Sprays
• Glass Cleaner
• Microfiber Cloth
• Others
By Applications segment of the Indonesia Car Care Products Market is sub-segmented into:
• Interior
o Carpet & Upholstery
o Leather Care
o Vinyl, Rubber and Plastic Care
o Air Freshener
• Exterior
o Paint Care
o Wheel & Tyre Care
o Glass & Windshield Care
o Seasonal Care Products
By Packaging Volume segment of the Indonesia Car Care Products Market is subsegmented into:
• Less than 250 ml
• 251 - 500 ml
• 501 - 999 ml
• 1 L - 5 L
• Above 5 L
• Others
By Retail Channel segment of the Indonesia Car Care Products Market is sub-segmented into:
• Online
• Offline
o Vehicle Distributor/Brand Stores
o Garages/Workshops
o Spare & Parts Shops
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