6.40% CAGR growth by 2023 in the Automotive Coolant Market| Top Players - BLUESTAR LUBRICATION TECHNOLOGY, CASTROL, CHEVRON CORPORATION, EXXON MOBIL, VALVOLINE, VOLTRONIC, TOTAL SA, PRESTONE, ROYAL DUTCH SHELL, amongst others

Market Analysis:

Asia- Pacific to Dominate the Market
The Asia-Pacific (APAC) region accounts for a very large share of the automotive coolant market. Europe stands second, followed by North America. In recent years, the sales of passenger cars and commercial vehicles have rapidly increased in the APAC region, leading to an increased demand for coolants in this region.

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Organic chemicals, such as Ethylene Glycol, Di-Ethylene Glycol, or Propylene Glycol can be used as coolants for automotive applications. Ethylene Glycol is the most preferred automotive coolant. But, ethylene glycol is highly toxic and requires careful disposal. Therefore, the coolant industries began manufacturing coolants that were less toxic. However, ethylene glycol coolants still hold the major share in the market, as they have better properties, than other. In the past few years, innovations in the automobile industry have increased the average lifespan of vehicles. This has led to an increase in the demand for coolants during maintenance and repair cycles. In addition, stringent emission norms imposed by the governments, an increase in the kilometers driven and increasing prices of conventional fuels have driven the market for automotive coolants.

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Market Segments:
Automotive Coolant Market is segmented by:
1. Vehicle: Passenger Cars, Commercial Vehicles
2. Chemical Type: Ethylene Glycol, Propylene Glycol
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• March 2018: Valvoline announced opening of new quick-lube center in Greater Boston area
• January 2018: Valvoline introduced new modern engine full synthetic motor oil
• October 2017: Prestone announced partnership with the Petersen automotive museum
• March 2017: Chevron starts production at Mafumeira Sul offshore Angola

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