Global Antifreeze Market, By Product Type (Glycerine, Propylene Glycol, Ethylene Glycol), Technology (Inorganic Acid Technology (IAT), Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT)), Vehicle Type (Passenger Cars, Low Commercial Vehicles, Heavy Commercial Vehicles), Application (Automotive, Aerospace, Industrial heat transfer and Cooling Systems) – Industry Trends and Forecast to 2029.
Antifreeze Market Analysis and Size
The market growth trajectory of the automotive antifreeze industry is being driven by the increase in vehicle production, preference for automobile maintenance, vehicle sales, and other factors. To maintain their competitive advantage, manufacturers in the automotive antifreeze market are concentrating on product innovation and development.
Data Bridge Market Research analyses that the antifreeze market was valued at USD 5.08 billion in 2021 and is expected to reach the value of USD 7.85 billion by 2029, at a CAGR of 5.60% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
ntifreeze Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Glycerine, Propylene Glycol, Ethylene Glycol), Technology (Inorganic Acid Technology (IAT), Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT)), Vehicle Type (Passenger Cars, Low Commercial Vehicles, Heavy Commercial Vehicles), Application (Automotive, Aerospace, Industrial heat transfer and Cooling Systems)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Valvoline Inc. (U.S.), Exxon Mobil Corporation (U.S.), BASF SE (Germany), TotalEnergies (France), Chevron Corporation. (U.S.), Royal Dutch Shell plc (U.K.), OLD WORLD INDUSTRIES, LLC (U.S.), Prestone Products Corporation (U.S.), Arteco (Belgium), AMSOIL INC. (U.S.), Recochem Corporation. (Canada), and Motul (France)
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Market Opportunities
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Market Definition
Antifreeze, also known as coolant, is a liquid that is mixed with water to help regulate your engine during high temperatures. As the temperature outside changes from hot to cold, coolant is pumped through the engine block to maintain an even operating temperature. Antifreeze does more than just keep the temperature stable. Antifreeze is a necessary engine coolant that aids in temperature regulation in vehicles. In hot weather, antifreeze prevents the water in the engine and radiator from boiling over. It can work with liquids at temperatures as high as 275 degrees Fahrenheit.
Global Antifreeze Market Dynamics
Drivers
- Incorporation of high performance lubricants
The introduction of high-performance lubrication as a result of changing environmental regulations to reduce carbon footprints has resulted in high-performance and enhanced fuel efficiency of vehicles. Automotive antifreeze is added to high-performance lubricants to keep them from freezing, which increases engine durability. This is expected to provide a significant growth to the automotive antifreeze market in the coming years. To ensure market sustainability, key market players are focusing on new product launch strategies and geographic expansion.
- Development of bio-based antifreeze to eliminate toxicity in the nature
Prolonged exposure to automotive antifreeze can cause poisoning in humans as well as toxic effects in small animals. Governments in several countries are taking disciplinary actions to offset harmful effects that could harm the environment by contaminating water resources.
As a result, manufacturers in the automotive antifreeze market are incorporating bio-based antifreeze into various lubricant formulations in order to meet the standards set forth by various government bodies. As it is environmentally friendly and biodegradable, consumers are increasingly preferring bio-based automotive antifreeze.
Opportunity
Increased demand for antifreeze and engine coolant products from original equipment manufacturers and aftermarket in the automotive industry is driving the antifreeze market forward. Furthermore, in the forecast period, battery thermal management using liquid cooling systems in electric and hybrid vehicles is expected to offer lucrative opportunities for the growth of the antifreeze market.
Restraints
However, the introduction of coolants with long service lives and the rising trend of engine downsizing are acting as market restraints for antifreeze in the forecasted period, whereas the volatile price of raw materials, combined with antifreeze recycling, will challenge market growth over the forecast period.
This antifreeze market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the antifreeze market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Antifreeze Market
The COVID-19 outbreak had a significant impact on the global antifreeze/coolant market. The automotive coolant market is being impacted by concerns about business closures and the recession. New vehicle registrations are declining as lockdown orders limit the number of vehicles on the road. According to the OICA report, the automotive industry faces a 16% decrease in production in 2020, to less than 78 million vehicles, which is equivalent to 2010 sales levels. Europe as a whole saw a drop of more than 21% on average. All of the major contributing countries experienced significant decreases ranging from 11% to 40%. Furthermore, the aviation industry suffered significant losses as a result of the pandemic, which reduced market demand. In 2022, China's aviation sector will seek to turn losses into profits this year, recovering to 85% of its pre-COVID volume of domestic passenger’s trips.
Recent Development
- In August 2021, Valvoline Inc. and Haertol introduced new coolants technology designed specifically for modern engines, Valvoline Antifreeze Coolant HT-12 Green and Valvoline Antifreeze Coolant HT-12 Pink.
- In July 2021, Castrol launched Castrol ON e-thermal fluid, an advanced new direct battery e-thermal fluid that will allow future generations of E.V.s to be charged more quickly while also providing increased performance, protection, and sustainability.
Global Antifreeze Market Scope
The antifreeze market is segmented on the basis of product type, technology, vehicle type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Inorganic Acid Technology (IAT)
- Organic Acid Technology (OAT)
- Hybrid Organic Acid Technology (HOAT)
Product type
- Glycerine
- Propylene Glycol
- Ethylene Glycol
Vehicle type
- Passenger Vehicle
- Low Commercial Vehicle
- Heavy Commercial Vehicle
Application
- Automotive
- Aerospace
- Industrial heat transfer
- Cooling Systems
Antifreeze Market Regional Analysis/Insights
The antifreeze market is analysed and market size insights and trends are provided by country of product type, technology, vehicle type and application as referenced above.
The countries covered in the antifreeze market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the antifreeze market, owing to rising demand for passenger cars and light commercial vehicles, particularly in India and China.
Europe is expected to grow at a significant rate from 2022 to 2029, owing to rising investments in aerospace R&D and the presence of numerous market players in the region's emerging countries.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Antifreeze Market Share Analysis
The antifreeze market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to antifreeze market.
Some of the major players operating in the antifreeze market are:
- Valvoline Inc. (U.S.)
- Exxon Mobil Corporation (U.S.)
- BASF SE (Germany)
- TotalEnergies (France)
- Chevron Corporation. (U.S.)
- Royal Dutch Shell plc (U.K.)
- OLD WORLD INDUSTRIES, LLC (U.S.)
- Prestone Products Corporation (U.S.)
- Arteco (Belgium)
- AMSOIL INC. (U.S.)
- Recochem Corporation. (Canada)
- Motul (France)
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