May 22, 2024

The Global Car Scratch Remover Market Growth Is Driven By Rising Number Of Used Cars

Car scratch removers are products used to remove minor scratches from car surfaces such as paint, clear coat, plastic or glass. They are available in various forms including creams, rub-ons, sprays and liquids and work by restoring damaged areas to their original appearance. Growing numbers of used cars on roads is driving the demand for car scratch removers. Used cars often change multiple owners over their lifetime and accumulate minor scratches and damage that need repairing. This repair and maintenance activity has boosted the car scratch remover market. The global car scratch remover market provides an effective and inexpensive solution to repair imperfections in car surfaces at home, without visiting a car service center. The products are easy to apply and available in convenient portable packs for touch-ups on the go.

The global Car Scratch Remover Market 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 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One major trend driving growth in the car scratch remover market is the rise of premium and luxury car ownership in developing nations. Car scratch removal has become an important part of the car maintenance regime for luxury and sports car owners who want to preserve the high-end appearance of their vehicles. Scratch remover products which work on delicate clear coats and special metallic layered paints used in premium cars are witnessing growing demand. Manufacturers are developing more effective formulas suitable for a variety of luxury car materials and surfaces. This focus on the luxury car segment is expected to continue shaping the car scratch remover market over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as there are low to moderate capital requirements. However, established brands have strong brand recognition and customer loyalty.

Bargaining power of buyers: The bargaining power of buyers is high as car scratch remover is a low involvement purchase product and there are many substitutes available. Buyers can easily switch to other brands.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers. However, specialized packaging suppliers have some bargaining power.

Threat of new substitutes: The threat of new substitutes is high as there are many DIY solutions available like rubbing compound, polishing cream etc.

Competitive rivalry: The competitive rivalry is high due to the presence of many international and domestic players. Players compete on price, promotions, quality and innovative formulations.

Key Takeaways

The Global Car Scratch Remover Market Growth is expected to witness high over the forecast period. The global Car Scratch Remover Market 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 2031.

North America currently dominates the market owing to high car ownership and frequent DIY activities. Growing auto repair and detailing industry is fueling market growth in the region. Europe is the second largest market for car scratch remover. Stringent emission regulations are prompting consumers to opt for scratch and dent repairs instead of replacements. This is supporting market expansion in the region.

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. Players adopt strategies like new product launches, partnerships and expansion to increase sales and gain higher market share.

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