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Description
Car Wash Detergents and Soaps Market size was valued at USD 7800 billion in 2021, growing at a CAGR of 5.2% from 2022-28. Key drivers for the market growth include changing consumer lifestyles with increasing disposable income, development of automobile manufacturing, veterinary rapid test urbanization and population growth in emerging economies, demand for auto detailing among consumers and shift from mechanical washing to mechanized washing. However, scarcity of water is restricting the market growth. In addition, expansion of automotive industry provides huge growth opportunity for the market. Water scarcity will be worsened as rapidly growing urban areas place heavy pressure on neighboring water resources. Climate change and bio-energy demands are also expected to amplify the already complex relationship between world development and water demand. Water conservation is a major issue that restricts the acceptance of in demand car wash amongst customers and thus, may restrict the car wash detergents and soaps market development. Rapid urbanisation and population expansion are predicted to lead to economic development, particularly in developing countries. Rapid urbanisation will lead to an increase in the size of automobile fleets, which will generate major opportunities for the automotive aftermarket and, in turn, feed demand for car wash detergents and soaps.
