DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Antifreeze Market by Vehicle Type, Product (Ethylene Glycol, Propylene Glycol & Glycerin), Engine Coolant Additive Technology OE & Aftermarket (IAT, OAT, & HOAT) & Region and Construction Equipment Engine Coolant Market - Forecast to 2021" report to their offering.
The antifreeze market for original equipment is projected to grow at a CAGR of 5.18% during the forecast period, to reach USD 885.1 Million by 2021
The increase in vehicle sales and production is expected to drive the demand for the antifreeze market. In addition, growing vehicle parc and increase in miles traveled per year per country are the key factors fueling the demand for antifreeze in the aftermarket.
The market for antifreeze, by value, is projected to grow at the fastest rate in the light commercial vehicle (LCV) segment. While passenger cars dominated the antifreeze market in 2016, light commercial vehicles are expected to dominate the market by 2021. The antifreeze market in LCV segment is expected to grow at a CAGR of 5.62% during the forecast period. This is due to the increase in production of this segment of vehicles, especially in the U.S., and the higher quantity of coolant required for these vehicles as compared to passenger cars.
Ethylene glycol is expected to dominate the base product market for antifreeze in the automotive industry. This is due to its efficient thermal properties, which make it suitable for extremely cold regions, along with its economical prices. Regions such as Asia-Oceania, North America, and Rest of the World (RoW) still witness a large market share of ethylene glycol for automotive antifreeze, making it a market leader in the base product market for automotive antifreeze.
Organic Acid Technology (OAT) is the largest as well as the fastest growing additive technology for the antifreeze market in the automotive industry. In the initial years, Inorganic Acid Technology (IAT) was used as the only additive technology in antifreeze. However, with technological advancements, these technologies also saw a shift to more sustainable options such as OAT and Hybrid Organic Acid Technology (HOAT).
Although the HOAT segment dominates the engine coolant aftermarket, OAT is projected to lead the market by 2021 and is the fastest growing segment as well. HOAT has the largest market share in developed regions such as Europe and North America. However, the trend for OAT based engine coolant is rising and is expected to dominate the market by 2021.
The crawler excavator application dominates the construction equipment engine coolant market. These excavators are used in various industries such as construction, mining, and agriculture. The construction industry has witnessed a boom in the market owing to growth in the housing sector.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Antifreeze Oe Market, By Product & Region
7 Automotive Antifreeze Market, By Additive Technology and Region
8 Engine Coolant Aftermarket, By Technology, Region & Vehicle Type
9 Construction Equipment Engine Coolant Market, By Application and Region
10 Automotive Antifreeze Market, By Region & Vehicle Type
11 Competitive Landscape
12 Company Profiles
13 Key Innovators
- BASF SE
- BP P.L.C.
- Chevron Corporation
- China Petrochemical Corporation
- Cummins Inc.
- Dupont Tate & Lyle Bio Products
- Evans Cooling Systems, Inc.
- Exxon Mobil Corporation
- Prestone Products Corporation
- Recochem Inc.
- Royal Dutch Shell PLC
For more information about this report visit http://www.researchandmarkets.com/research/lx3q4l/antifreeze_market