Press release
Antifreeze Market to See Major Growth by 2024 | Chevron, Kost USA, Shell, Total, Exxon Mobil, Ashland Inc, PETRONAS
Strong commercial air traffic flow in Asia Pacific and the Middle East will positively influence the overall antifreeze market by 2024. For instance, revenue passenger kilometers (RPK) in Asia Pacific and the Middle East was 6.3% and 6.2% respectively in 2016. This trend is majorly due to improving socio-economic factors of people in Asia Pacific countries including India, Japan, Indonesia and Malaysia. In addition, as per Boeing estimates, the global airplane fleet will double its as of now by 2033. Therefore, increasing airplane fleet in the near future will subsequently boost the global antifreeze market by 2024.
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Antifreeze Market is likely to surpass USD 7.5 billion by 2024; according to a new research report. Volatility in raw material prices is will be a major restraining factor for antifreeze market by 2024. Propylene glycol and ethylene glycol, are petroleum derivates and are the key raw materials used for manufacturing antifreeze. Henceforth, wavering petroleum prices may hinder the global coolants market by 2024. Furthermore, toxic nature of product is probable to obstruct the overall antifreeze market by 2024. Nevertheless, rising product use to improve engine performance in vehicle will generate plentiful opportunities for coolants market by 2024.
Major antifreeze market players are Chevron, Kost USA, Shell, Total, Exxon Mobil, Ashland Inc, PETRONAS, Castrol BASF, Sinopec, Dow and DuPont. Prominent players are investing significantly into their R&D facilities to broaden its customer base. For instance, Kost U.S.A., began manufacturing the all-new STP, which is automotive and heavy-duty lines of antifreeze at their manufacturing plant in Cincinnati, Ohio. It was intended in order to improve its existing product portfolio, to upscale its customer base globally.
Propylene glycol-based antifreeze market is projected to witness gains of over 6.5% during the forecast time period. This is owing to its less-toxic nature compared to ethylene glycol-based antifreeze and henceforth makes it preferable across several end-user industries including automotive, industrial and aerospace. Stringent laws imposed by regional regulatory bodies against use of toxic material across the aforementioned industries to help save human life and environment has triggered use of non-toxic material. These trends will drive demand for propylene-based coolant which will subsequently propel antifreeze market in the coming years.
North America antifreeze market was close to USD 750 million in 2016. This was mainly due to strong automotive and aerospace industry mainly in the U.S. For instance, total vehicle sales in the U.S. were 15.53 million units which reached 17.85 million units by the end of 2017.
Coolant market for Hybrid Organic Acid Technology (HOAT) is likely to rise close to CAGR of 6% in the coming years. It is a hybrid of Inorganic Acid Technology (IAT) and OAT and use carboxylate salts which are mainly organic acid salts. Additionally, it contains sodium silicate which is an excellent aluminum protection additive.
However, silicates are abrasive to antifreeze pump seals and silicate containing coolants are not preferred by manufacturer. Henceforth, this technology includes silicates in a lesser concentration compared to conventional green IAT coolant and henceforth will help drive antifreeze market by 2024.
Antifreeze market for industrial heating/cooling is projected to rise at a CAGR close to 5% during the forecast timespan. Growing population along with rising economy in the Asia Pacific has led to industrialization which will drive product demand and in turn will boost coolants market by 2024. Product possess excellent properties which is designed to protect copper, brass, solder, cast iron, steel and various other metals commonly found in industrial cooling/heating system. The aforementioned trends will help attain promising gains to coolants market by 2024.
Additionally, Maintenance, Repair and Overhaul providers (MRO's) for aircraft industry in the region spent USD 20 billion. This move was intended to maintain the overall performance and safety standards. Coolants play a significant role in maintaining engine's performance by reducing the excess heat generated which otherwise, may cause severe damage to engine components. The above-mentioned trends will help make significant contribution to the antifreeze market by 2024.
In 2016, the overall antifreeze market was consolidated with major players constituting close to 50% of the market share.
Antifreeze market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
Antifreeze Market, Product by Application
Ethylene glycol
Automotive
Aerospace
Industrial heating/cooling
Others
Propylene glycol
Automotive
Aerospace
Industrial heating/cooling
Others
Others
Automotive
Aerospace
Industrial heating/cooling
Others
Antifreeze Market By Technology
Inorganic Acid Technology (IAT)
Organic Acid Technology (OAT)
Hybrid Organic Acid Technology (HOAT)
Antifreeze Market By Application
Automotive
Aerospace
Industrial heating/cooling
Others
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Report Content
Chapter 1. Methodology And Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.1.4.1. Definitions
1.1.4.2. Forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Antifreeze industry 360 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product by application trends
2.1.3. Technology trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Antifreeze Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition at each stage
3.3.3. Distributor channel analysis
3.3.4. Vendor matrix
3.3.4.1. List of key manufacturers
3.3.4.2. List of key/potential customers
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Strong growth in Asia Pacific automotive industry
3.4.1.2. Product applications in Aerospace
3.4.2. Industry pitfalls & challenges
3.4.2.1. High toxicity of the ethylene glycol
3.4.2.2. Unstable raw material price trends
3.5. Regulatory trends
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Pricing analysis
3.6.1. Cost structure analysis
3.6.1.1. R & D cost
3.6.1.2. Manufacturing & equipment cost
3.6.1.3. Raw material cost
3.6.1.4. Distribution cost
3.6.1.5. Operating cost
3.6.1.6. Miscellaneous cost
3.6.2. Pricing by product
3.6.3. Pricing by region
3.7. Innovation & sustainability
3.7.1. Patent analysis
3.8. Product comparison
3.8.1. Ethylene glycol vs propylene glycol
3.9. Growth potential analysis
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. Competitive landscape, 2016
3.11.1. Strategy dashboard
3.12. PESTEL analysis
Chapter 4. Antifreeze Market, Product By Application
4.1. Antifreeze market share of product by application, 2016 & 2024
4.2. Ethylene glycol
4.2.1. Market estimates and forecast of product by application, 2013 - 2024
Automotive
Aerospace
Industrial heating/cooling
Others
4.2.2. Market estimates and forecast by region, 2013 - 2024
4.3. Propylene glycol
4.3.1. Market estimates and forecast of product by application, 2013 - 2024
Automotive
Aerospace
Industrial heating/cooling
Others
4.3.2. Market estimates and forecast by region, 2013 - 2024
4.4. Others
4.4.1. Market estimates and forecast of product by application, 2013 - 2024
Automotive
Aerospace
Industrial heating/cooling
Others
4.4.2. Market estimates and forecast by region, 2013 - 2024
Chapter 5. Antifreeze Market, By Technology
5.1. Antifreeze market share by technology, 2016 & 2024
5.2. Inorganic Acid Technology (IAT)
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast by region, 2013 - 2024
5.3. Organic Acid Technology (OAT)
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast by region, 2013 - 2024
5.4. Hybrid Organic Acid Technology (HOAT)
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast by region, 2013 - 2024
Chapter 6. Antifreeze Market, By Application
6.1. Antifreeze market share by application, 2016 & 2024
6.2. Automotive
6.2.1. Market estimates and forecast, 2013 - 2024
6.2.2. Market estimates and forecast by region, 2013 - 2024
6.3. Aerospace
6.3.1. Market estimates and forecast, 2013 - 2024
6.3.2. Market estimates and forecast by region, 2013 - 2024
6.4. Industrial heating/cooling
6.4.1. Market estimates and forecast, 2013 - 2024
6.4.2. Market estimates and forecast by region, 2013 - 2024
6.5. Others
6.5.1. Market estimates and forecast, 2013 - 2024
6.5.2. Market estimates and forecast by region, 2013 - 2024
Chapter 7. Antifreeze Market, By Region
Chapter 8. Company Profiles
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