Market Insights
Antifreeze/coolant is colored and a liquid additive that helps to control and maintain engine temperature. Market Research Future has estimated that the global antifreeze coolant market would witness significant growth during the forecast period 2022-2030.
Due to an increase in research and developments activities in the chemical industry, engine coolants have gone through radical transformation in its material composition. The growth of the global Antifreeze Coolant Market is attributed to several factors; this includes ongoing trends in automotive sector, high investment for R&D in chemical industry, and stable economic growth in major regions. Automobile segment is a significant shareholder in the global antifreeze Coolan market. Sharply rising MSMEs sector has stimulated the demand for passenger vehicles and trucks, driving the growth of the global antifreeze Coolan market.
Implementation of new regulations by the government is also effectively impacting the growth of automotive industry, which ultimately creates more opportunities for the coolant manufacturers lead by both aftermarket segments and OEMs.
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Growing production of automobiles, globally, fuels the demand for antifreeze Coolan. With its capability to maintain the temperatures, coolant with its essential constituent called inhibitors resists corrosion and rust. These inhibitors also help to protect the engine surface from cavitation caused by the formation and collapse of air pockets. These additional metallurgic properties have helped to maintain the durability of the vehicle. This has a direct connection with the sales and brand reputation.
Moreover, diversified application of anti-freeze/coolant in the aviation industry and aerospace is expected to propel the demand during forecast period.
Segmentation
The global anti-freeze/coolant market is diversely divided by type, product, and end-user industry.
Based on the type, the global antifreeze Coolan market is bifurcated into HOAT anti-freeze, green anti-freeze, OAT anti-freeze, and NOAT anti-freeze.
The product segment of the global antifreeze Coolan market is classified into methanol, ethylene glycol, glycerin, propylene glycol, and others.
Based on end-users, the global market for anti-freeze coolant is divided into electronics, aerospace, automotive, industrial, construction, and others.
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Regional Analysis
Geographically, the Asia Pacific held the largest share in the global antifreeze Coolan market owing to a high production rate and strong demand in the region. Growing foreign investment and rapid industrialization in regions such as China, and India is another factor accountable for the growth of the global antifreeze Coolan market. Its corrosion restricting characteristics has helped the industry to maintain its momentum in the burgeoning market.
North America stands second following the Asia Pacific owing to high demand from the construction industry and recovering automobile industry in the region. Use of antifreeze for anti-icing materials by aerospace and electronics industry has propelled the demand.
The European market is anticipated to show moderate growth due to extensive construction activities and projects in Western Europe.
Latin America is anticipated to flourish at an exponential growth rate owing to growth-centric regions such as Brazil, Argentina, and Chile. The Middle East and Africa region might show moderate growth due to current construction activities in the area.
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Competitive players
Key participants of the global antifreeze Coolan market that are aggressively dedicated to the development of efficient products include BP p.l.c., Shell Global, OLD WORLD INDUSTRIES, Chevron Corporation, Motul, Total S.A. BASF SE, Exxon Mobil Corporation, DowDuPont, AMSOIL INC., Prestone Products Corporation, , KOST USA, Inc., Petronas, Cummins Inc., and Lukoil.
Industry Updates
Old World Industries freshly declared the unveiling of its all-new PEAK Antifreeze + Coolant, considered with an innovative formula that assures superior lifetime safety. The launch of the new PEAK indicates first major launch of Old World Industries’ in the prolonged life antifreeze Coolan segment since last ten years and is the outcome of a comprehensive study to know DIYers’ requirement and decision-making process. The introduction of new PEAK Antifreeze + Coolant matches with the current development of PEAK Original Equipment Technology Antifreeze + Coolant, which is now approved by over 30 retailers comprising Advance Auto, AutoZone, and Pep Boys.
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