Automotive Antifreeze Market Top companies, Demand Analysis and Forecast to 2022-2027
The latest research study “Automotive Antifreeze Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive antifreeze market size reached US$ 3.75 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2027, exhibiting a growth rate (CAGR) of 5.30% during 2022-2027.
Automotive antifreeze refers to specialized colored liquids that are utilized as an additive along with water to optimize the temperature of the internal combustion engine (ICE). They are available in numerous types, including ethylene glycol, glycerin, propylene glycol, etc. These automotive antifreeze variants are produced through inorganic additive technology (IAT), organic acid technology (OAT), and hybrid organic acid technology (HOAT). They are extensively used to regulate the engine temperature during extreme weather conditions and protect it from corrosion, explosions, severe damage, and overheating. Consequently, automotive antifreeze fluids find widespread utilization in passenger, commercial, and construction vehicles across countries.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Automotive Antifreeze Market Trends and Drivers:
The expanding automotive industry across the globe and the increasing need to maintain optimum fuel economy, prevent sudden breakdown issues, reduce maintenance costs, extend the life of rubber and plastic components of the ICE, etc., are primarily driving the automotive antifreeze market. Besides this, the escalating usage of heavy-duty antifreeze in construction equipment, which includes bulldozers, harvesters, excavators, trenchers, and forklifts, is also positively influencing the global market. Additionally, the launch of bio-based and environmental-friendly products produced from corn, stover, and other oil-rich sources is acting as another significant growth-inducing factor. Apart from this, the shifting preferences toward high-quality and technologically advanced additive supplements in antifreeze to enhance the health and longevity of diesel engines by reducing corrosion and cavitation and the launch of favorable policies by the government bodies aimed at promoting the use of high-performance lubricants to minimize carbon footprints are further stimulating the market growth. Moreover, the escalating research and development (R&D) activities to introduce cost-effective and non-toxic product categories with extended life are anticipated to drive the automotive antifreeze market over the forecasted period.
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Automotive Antifreeze Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of fluid type, technology, vehicle type and distribution channel.
Breakup by Fluid Type:
- Ethylene Glycol
- Propylene Glycol
Breakup by Technology:
- Inorganic Additive Technology (IAT)
- Organic Acid Technology (OAT)
- Hybrid Organic Acid Technology (HOAT)
Breakup by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
- Construction Vehicle
Breakup by Distribution Channel:
- Original Equipment Manufacturers (OEMs)
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors• SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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