Global Antifreeze Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Antifreeze Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global antifreeze market report has been segmented on the basis of product type, additive technology, vehicle type, and region.
Global Antifreeze Market: Overview
The antifreeze is available in liquid form and is mixed with water to regulate engine temperatures. It is widely used to reduce the freezing point of a water-based liquid by increasing its boiling point.
Global Antifreeze Market: Dynamics
Increasing vehicle manufacturing and increasing demand for automobiles from individuals, in turn is expected to increase the demand for antifreeze and engine coolant products from original equipment manufacturers and aftermarket in the automotive industry. This is a key factor expected to drive growth of the global market over the forecast period.
Moreover, growing need for protection against corrosion and freezing, and requirement for effective heat dissipation among automotive and aircraft manufacturers across the globe are among some of the major factors expected to boost growth of the target market in the near future.
Furthermore, growing demand for engine coolant and antifreeze products, owing to increasing sales of construction equipment that are used for heavy duty workloads by various players manufacturing constructions equipment’s across the globe is a factor expected to fuel growth of the potential market during the forecast period.
However, increasing demand and manufacturing activities associated with battery-operated electric vehicles by individuals and automotive sector are some of the key factors expected to hamper growth of the global market to a certain extent.
In addition, increasing R&D activities for downsizing engine and increasing recycling of used engine coolant and antifreeze are some of the other challenging factors expected to restraint growth of the target market in the near future.
Global Antifreeze Market: Opportunities and Trend
Growing demand for environment-friendly and bio-based antifreeze and coolants products by various automotive manufacturers, owing to increasing concerns associated with pollutant emissions from vehicles. Also increasing investment and initiatives by government in R&D activities for development of cost effective, performance efficient, ecofriendly, and low toxic products, coupled with increased shelf life. Aforementioned are major factors expected to create significant revenue growth opportunities for players in the global market in the coming 10 years.
Global Antifreeze Market: Segment Analysis
Among the product type segments, the ethylene glycol segment is expected to lead in terms of revenue share in the global market. This is primarily attributed to beneficiary properties offered by antifreeze products such as ability to blend with any proportion to form of coolant, miscibility in water, etc.
Among the technology segments, the organic acid (OAT) segment is expected to register highest CAGR in the global market. This is due to its enhanced corrosion protection technologies with long service life of over 300,000 miles for commercial vehicles, and 150,000 miles for passenger cars.
Global Antifreeze Market: Regional Analysis
The antifreeze market in Asia Pacific is expected to dominate in the global market in terms of revenue. This is attributed to rapid growth in aerospace, automotive, and industrial sectors. Also improved spending power of consumers are resulting into high demand for luxury automotive, which in turn triggers high production and sales automobiles in countries such as Japan, China, and India. This in turn is expected to boost growth of the target market in the Asia Pacific region over the forecast period.
Furthermore, the market in North America is expected to register second highest CAGR in the global market, followed by market in the Europe region. The North America is witnessing an increased demand for SUVs and light weight trucks which in turn proliferates production facility expansion in countries such as the US and Canada.
Global Antifreeze Market Segmentation:
Segmentation by Product Type:
- Ethylene Glycol
- Propylene Glycol
Segmentation by Additive Technology:
- Inorganic Acid Technology (IAT)
- Organic Acid Technology (OAT)
- Hybrid Organic Acid Technology (HOAT)
Segmentation by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- P P.L.C.
- Cummins, Inc.
- Chevron Corporation
- Royal Dutch Shell PLC
- Exxon Mobil Corporation
- Prestone Products Corporation
- China Petrochemical Corporation
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