DUBLIN--(BUSINESS WIRE)--The "Antifreeze/Coolant Market by Application (Automotive, Industrial), Base Fluid (Ethylene Glycol, Propylene Glycol and Glycerine), Technology, Regions (North America, Europe, APAC, Middle East & Africa, and South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global antifreeze/coolant market size was valued at USD 5.4 billion in 2020 to reach USD 5.9 billion by 2025 at a CAGR of 1.8%.
The global antifreeze/coolant industry will be driven primarily by the increase in the number of vehicles in operation worldwide. The growth in the HVAC systems and construction equipment industry are the other key factor contributing to the steady growth of the antifreeze/coolant market.
Automotive segment to lead the antifreeze/coolants market.
The automotive segment dominates the antifreeze/coolant market. The increase in the number of vehicles in operation at the global level is one of the factors driving the antifreeze/coolant market. This growth in the automotive sector can be attributed to the growing population, improved socio-economic conditions, emerging economies, expanding the e-commerce industry, improved infrastructure, increasing vehicle fleet, and other factors. The growth of the automotive engine coolant in the antifreeze/coolant market is directly related to the increase in the number of motor vehicles operating and total miles driven per year, as they play a mandatory role in the engine cooling system of a vehicle.
Ethylene glycol is projected to be the fastest-growing segment from 2020 to 2025.
Growth of ethylene glycol as a base fluid in the antifreeze/coolant industry is primarily attributed to its cost-effectiveness and its ability to be used in all climatic conditions, making it the most preferred base fluid across the globe. It is used as antifreeze in automotive engine cooling and is also used in many industrial cooling applications. Recycling of ethylene glycol from processes such as distillation, reverse osmosis, and ion exchange is also gradually making its mark in the market for utilization as engine coolant.
OAT technology is projected to be the fastest-growing segment in the antifreeze/coolant market from 2020 to 2025.
The OAT technology is projected to witness significant growth by 2025. Organic acid technology (OAT) is based primarily on carbon-based molecules, typically organic acids, to protect cooling system components. This technology has a life of about 5 years or 250,000 km in automotive applications. The technology is generally safe for both aluminium engines and rubber parts.
The antifreeze/coolant market in the Middle East & Africa (MEA) region is projected to grow at the highest rate during the forecast period.
The Middle East & Africa (MEA) region is projected to grow at the highest rate from 2020 to 2025. The demand from the automotive and heavy construction equipment is a key growth factor for the antifreeze/coolant market in the region. Major construction projects such as Etihad Rail, infrastructure for the FIFA World Cup 2022, and expansion of existing transportation networks are all expected to be completed during the forecast period. These infrastructural projects taken up in the MEA require heavy equipment which consumes antifreeze/coolant. This is expected to boost the growth of the antifreeze/coolant market in the region.
- Increase in Number of Vehicles in Operation Driving the Demand for Antifreeze/Coolant
- Growing Sales of Construction Equipment Fueling Consumption of Antifreeze/Coolants
- Growth in Demand for HVAC Systems
- Introduction of Coolants With Long Service Life
- Increasing Trend of Engine Downsizing
- Phase-Change Materials and Air-Cooling Based Battery Thermal Management System in Electric and Hybrid Vehicles
- Battery Thermal Management Using Liquid Cooling Systems in Electric and Hybrid Vehicles
- Volatile Price of Raw Material
- Recycling of Antifreeze/Coolant
- BP plc
- Royal Dutch Shell plc
- Chevron Corporation
- ExxonMobil Corporation
- Total S.A.
- Basf Se
- Valvoline Inc.
- Cummins Inc.
- Motul S.A.
- Dow Inc.
- Dupont Tate & Lyle Bio Products Company, LLC.
- Products Offered
- Recochem Inc.
- Prestone Products Corporation
- Huntsman Corporation
- Sinopec Corporation
- Cci Corporation
- Evans Cooling Systems, Inc.
- Kost Usa, Inc.
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