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Allied Market Research

Tire Spray Market by Type (Water-based tire spray, and Silicon-based tire spray), Application (Automotive Repair Shop, and Automotive Care Shop): Global Opportunity Analysis and Industry Forecast, 2021 - 2027

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Jun 2021 | 52 Views
 
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Tire Spray Market Outlook – 2027

The tire spray can be categories as the final touch after washing and cleaning a car. The tire sprays are available commonly in spray or gel, tire shine provides a shiny look for a car's tires and often gives a vehicle a final pop to help it stand out. The process involves cleaning and treating multiple components, each of them made from different materials, and requiring specific steps and detailing products. One of the most important components of any car, truck, or SUV is the tires that help the vehicle start and stop safely. To accomplish this cleaning task, many car owners use tire dressing or shine products that produce a high gloss finish.  It is applied to vehicle tires after they have been washed to remove dirt and grime but not with dish soap, which delivers a deep, rich, and high gloss or dark appearance of the tire. The dressing group is made from water-borne or solvent-based and silicone-based materials that are combined with oils that help to penetrate the rubber and restore the product. It serves as a lubricant to rehydrate dried-out rubber, which is a leading source of fading. The increasing concern of customers for taking good care of their automotive vehicles is expected to boost the tire spray market in the forecast period.

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2019

Forecast period

2021–2027

Forecast units

Value (USD)

Segments covered

Type, and Application

Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

Companies covered

Meguiar (3M), Stoner Inc., Chemical Guys, Black Magic, Supershine, TriNova, Dunlop, Goodyear, Bridgestone, and CarGuys

 

COVID-19 scenario analysis:

  • As the demand for tires has vanished during the lockdown, inventory kept with tire manufacturers has risen to four months' worth of production the highest ever.
  • Producers are working on strategies to reduce stockpiling such as with production cuts, laying off jobs, and others.
  • The tires industry is directly connected with the Original Equipment Manufacturers (OEM), hence it will face huge losses till the lockdown is over.
  • The staff members of various departments are instructed to work from home during the lockdown period within which production is completely been shut.
  • As the COVID-19 has crucially affected the sales of the tires and lockdown has completely stopped the transportation all across the globe, it will eventually affect the tire spray market as well.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rising concern of customers for their vehicle and growing safety & security concerns are expected to spur the demand over the forecast period. However, increasing use of self-healing technology is anticipated to hamper the growth of the market. Furthermore, enhancing advancement in spray technology and the tire design coupled with increasing the distance covered by applying the spray is expected to offer lucrative opportunities for the market in the forecast period.

The tire spray market trends are as follows:

The growing concern of customers for their vehicle

The tire maintenance includes frequent air pressure checks, proper rotations, and replacement keeping the sidewalls clean, looking sharp and protected from exposure to UV rays, road grime, and contaminants is just as crucial as any other component of a vehicle. In addition, the tire dressing act as a chemical formula, which is intended to restore black rubber that has faded over time. Hence, the increasing concern of customers over maintaining the quality of their tire to sustain the safety of their vehicle is expected to grow the tire spray market in the forecast period.

Growing safety and security concerns

The increasing awareness among the customers across the globe has forced manufacturers to provide various security feature to increase their sales and maintain their position in the market. Also, the government of almost every country is providing new rules and regulations to enhance the safety and security of passengers while traveling, which will further boost the growth of run-flat tires market.

Key segments covered:

Segments

Sub-segments

Type

  • Water-based tire spray
  • Silicon-based tire spray

Application

  • Automotive Repair Shop
  • Automotive Care Shop

Key benefits of the report:

  • This study presents the analytical depiction of the tire spray market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the tire spray market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the tire spray market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed tire spray market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the tire spray market research report:

  • What are the leading market players active in the tire spray market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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