Philippines Car Care Products Market, By Vehicle Type, By Product Type, By Application, By End Use, By Distribution Channel, 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 prolonging the life of automobiles and maintaining their shine, and aesthetic looks. Increasing sales of commercial vehicles, and personal cars, and higher rising disposable income among the population are further driving the growth of the Philippines car care products market in the upcoming five years.

Car care products include cleaning, washing, waxing, sealing, and coating exteriors & interior products. These products are usually applied for prolonging the visual life of automobiles. The service-based companies that provide car care & related services use this product, while personal kits of car care products are further gaining popularity among the population.

Increasing Vehicle Fleet Drives Market Growth

Increasing demand for ownership of the 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 personal cars, and commercial cars by importing the products from the neighboring countries, the assembling, revamping, and maintenance sector of the industry is gaining higher sales and aiding the market growth.

Car sales in the country had been depleting in the 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 demand for smaller and more economical cars has 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 the next five years too. The company manufactured over 161,385 vehicles in the year 2019 and holds 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 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 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-user, distribution channel, competitional landscape, and regional distribution. Based on vehicle type, the market is further segmented into the hatchback, sedan, and SUV/MPV. The 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. Based on distribution channels, 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, and Meguiar's Philippines, among others a partial list of major market players of the companies responsible for the growth of Philippines car care products market.

Report Scope:

In this report, Philippines car care products market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Philippines Car Care Products Market, By Vehicle Type:

Hatchback

Sedan

SUV/MPV

• Philippines Car Care Products Market, By Product Type:

Cleaning & Washing

Polishing & Waxing

Sealing Glaze & Coating

Others

• Philippines Car Care Products Market, By Application:

Interior

Exterior

• Philippines Car Care Products Market, By End Use:

Service Centers

Garages

Individual Sources

Others

• Philippines Car Care Products Market, By Distribution Channel:

Online

Offline

• Philippines Car Care Products Market, By Region:

National Capital Region (NCR)

Region IV - Southern Tagalog

Region III - Central Luzon

Region VII - Central Visayas

Region I - Ilocos Region

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).

Frequently Asked Question

Ques: What are the major drivers of the Philippines Car care products Market?

Ans: Increasing applications of car care products for maintaining the longer shelf life of vehicles and increasing accidents that create dents and breaks on the vehicles drive the growth of the Philippines car care products market in the upcoming five years.

Ques: Which segment may lead the application-based segmentation of the Philippines Car care products Market?

Ans: By application, the market is segmented into interior and exterior. The exterior segment is anticipated to hold the largest revenue shares of the Philippines car care products market and dominate the application-based market segment in the upcoming five years due to increasing demand for prolonging exterior looks of the vehicles. Increasing instances of accidents are also driving the growth of the market.

Ques: Mention the names of the leading market players in Philippines Car care products Market.

Ans: Being responsible for the due growth of the market, some of the leading players in the Philippines car care products market were Carbalen Car Care Products, Redox Chemical Industries Ltd., Ma-Fra Spa, Stinger Chemical Corporation, and Sonax Philippines, among others.

Ques: What is the study period for the Philippines Car care products Market?

Ans: Philippines car care products market was analyzed for the historical period of 2017 to 2020. While the base year was 2021, an estimation for the year 2022 was calculated and the market growth was further forecast for 2023 to 2027.