April 24, 2024
Car Scratch Remover Market

The Growing Car Scratch Remover Market is Trending Due to Rising Demand for Convenient Repair Solutions

Car scratch removers provide a quick and effective way to fix minor scratches and blemishes on a vehicle’s exterior without extensive repair work. Containing abrasives that gently polish out scratches by levelling the peaks and filling in valleys of the damaged clear coat, car scratch removers save vehicle owners time and money compared to a costly paint job or visit to the body shop. The Global Car Scratch Remover Market Size caters to the need for convenient do-it-yourself repair products and is estimated to be valued at US$ 22.05 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the car scratch remover market are GrainPro Inc., PackFreshUSA, ShieldPro Flexible Packaging, SorbentSystems, IMPAK Corporation, Green Storage Ltd., LPS Industries LLC, Seal King Europe B.V., TPB Plastech Limited, Integra Packaging. As vehicle ownership increases around the world and more drivers opt to repair minor exterior damage themselves, demand for effective car scratch removal products is growing. Leading companies are expanding their geographic footprints and investing in innovation to capitalize on the mounting demand. With the rise of the gig economy and companies like Uber that rely on private car fleets, the commercial sector is also contributing to market growth as such businesses aim to keep their vehicles looking pristine.

Market Key Trends

One of the key trends in the car scratch remover market is the increasing popularity of water-based and environmentally-friendly formulations. As consumers become more concerned with reducing plastic waste and chemical exposure, manufacturers are responding by designing products with safer, more sustainable ingredients. Water-based removers contain minimal or no volatile organic compounds and solvents, providing an eco-friendly alternative to abrasive pastes and compounds. Their mild action also lessens the risk of causing further damage during repairs. This shift towards greener products supports the circular economy goals of many automakers and repair shops

Porter’s Analysis

Threat of new entrants: Medium level barrier for new companies to enter due to established customer loyalty with existing brands. However, low initial investments and technology needed is attracting new companies.

Bargaining power of buyers: Buyers have medium bargaining power as there are many brands available but switching costs are low.

Bargaining power of suppliers: Suppliers have medium bargaining power as raw materials needed are easily available but companies can source from multiple suppliers.

Threat of new substitutes: Low threat as scratch removal process cannot be replaced but alternatives available are wax and advanced cover ups.

Competitive rivalry: Intense competition between established brands to acquire new customers and also from local private label brands offering value products.

Geographical Regions

North America region accounted for the largest share in car scratch remover market in terms of value in 2024 due to a large number of vehicles and cosmetic repairs in countries like U.S. and Canada.

Asia Pacific is expected to be the fastest growing region during the forecast period from 2024 to 2030. This high growth is attributed to increasing vehicle ownership, rising disposable incomes and improving living standards in emerging economies like China and India.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it