IMARC Group’s latest report, titled “Automotive Antifreeze Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global automotive antifreeze market size reached US$ 4.0 Billion in 2022. Automotive antifreeze, also known as engine coolant, is an additive used along with water to maintain the temperature of the internal combustion engine (ICE) within a specified range. It is generally made from methanol, glycerol, ethylene glycol, or propylene glycol and appears as a colored liquid. It works by reducing the freezing point of water and increasing its boiling point to protect the engine from extensive damage, explosion, and overheating. It also assists in regulating the engine during extreme weather conditions while safeguarding it from corrosion. In addition to this, automotive antifreeze helps prevent the radiator from freezing in extreme cold and overheating in extreme heat.
Global Automotive Antifreeze Market Trends:
Automotive antifreeze is widely used in passenger and commercial vehicles to maintain optimum fuel economy, lower maintenance costs, prevent breakdowns, rust, and electrolysis, and extend the lifespan of rubber and plastic components. As a result, the surging automobile sales and production represent the primary factors driving the market growth. Besides this, the increasing usage of heavy-duty antifreeze in construction equipment, including forklifts, bulldozers, excavators, harvesters, and trenchers, has augmented the product demand. Additionally, governments of various countries are taking supportive initiatives to promote the uptake of high-performance lubricants to minimize carbon footprints. In line with this, the rising applications of antifreeze in heating, ventilation, and cooling (HVAC) for automotive and industrial sectors have accelerated product adoption rates. Furthermore, the leading manufacturers are heavily investing in research and development (R&D) activities to engineer innovative product variants with lower toxicity, extended shelf life, and higher cost efficiency. This is further supported by the escalating demand for high-quality, technologically advanced additive supplements in antifreeze to enhance the health and longevity of diesel engines by preventing corrosion and cavitation. Along with this, ongoing product innovations, such as the development of bio-based, environment-friendly antifreeze like glycerin that can be obtained from corn, stover, and other oil-rich sources, have catalyzed the market growth. Other factors, including the rapid expansion in the automotive industry, growing need for effective heat dissipation, surging demand for passenger cars and light commercial vehicles, and continual advancements in additive technology, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 5.5 Billion by 2028, expanding at a CAGR of 5.1% during 2023-2028.
- Based on the fluid type, the market has been categorized into ethylene glycol, propylene glycol, and glycerine.
- On the basis of technology, the market has been divided into inorganic additive technology (IAT), organic acid technology (OAT), and hybrid organic acid technology (HOAT).
- The market has been classified based on the vehicle type into passenger, commercial, and construction vehicles.
- Based on the distribution channel, the market has been bifurcated into original equipment manufacturers (OEMs) and aftermarket.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being AMSOIL Inc., BP p.l.c., Chevron Corporation, Cummins Inc., ExxonMobil Corporation, Fuchs Petrolub SE, Halfords Group PLC, Motul S.A, Prestone Products Corporation, Recochem Inc., Shell plc, TotalEnergies SE, Valvoline Inc., and VOLTRONIC GmbH.
|Base Year of the Analysis
||Fluid Type, Technology, Vehicle Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AMSOIL Inc., BP p.l.c., Chevron Corporation, Cummins Inc., ExxonMobil Corporation, Fuchs Petrolub SE, Halfords Group PLC, Motul S.A, Prestone Products Corporation, Recochem Inc., Shell plc, TotalEnergies SE, Valvoline Inc. and VOLTRONIC GmbH
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