North America Antifreeze And Coolants Market to reach US$ 2.3 Bn by 2030-end | Key Players- BASF, SE Cummins & more

North America Antifreeze And Coolants Market

As per PMR analysis, the North America antifreeze and coolants market is anticipated to expand at a CAGR of around 4% over the forecast period of 2020-2030, to reach a valuation of US$ 2.3 Bn by 2030-end.

The North America Antifreeze and Coolants market has been witnessing steady growth over the past few years, and it is expected to continue to do so in the coming years. North America is home to many of the world's leading automotive and industrial companies that are engaged in manufacturing antifreeze and coolants for a variety of applications. This market is mainly driven by increasing demand from automotive sectors due to growing disposable incomes, rising vehicle sales, and changing engine designs. In addition, North America also boasts one of the most advanced industrial sectors in the world that demands superior quality cooling fluids for its operations.

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Key Companies-

• BASF SE
• Cummins Inc.
• Exxon Mobil Corporation
• CCI MANUFACTURING MEXICO, S.A. DE C.
• Royal Dutch Shell
• Valvoline Inc
• Chevron Corporation
• Prestone Products Corporation.
• OLD WORLD INDUSTRIES, LLC ( Peak Brand)
• Total SA
• Lubricantes De America S.A. DE C.V
• Quaker State
• Roshfrans S.A. DE C.V.
• Bardahl Manufacturing Corporation
• Conoco Phillips Company
• BP Plc

North America Antifreeze and Coolants Market to Remain Consolidated

The North America antifreeze and coolants market is moderately consolidated in nature. Tier-1 manufacturers are estimated to account for one-third of the North America antifreeze and coolants market. Some of the leading manufacturers identified in the North America antifreeze and coolants market are Old World Industries, CCI Manufacturing, Valvoline, Chevron Products Company, Royal Dutch Shell, and Roshfrans, amongst others. Manufacturers are aiming to strengthen their market share by improving brand value and expanding distribution networks.

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Key Takeaways from North America Antifreeze and Coolants Market Study

• The use of antifreeze and coolants is significant in cold regions, with rising need for thermal management and low flash point fluids.
• PMR forecasts that there will be rather sound growth in developed countries of North America, with key emphasis on ethylene glycol, owing to its ability to be used in all climatic conditions and cost-effectiveness. One of the advantages of ethylene glycol is that it is the most preferred base fluid across the globe.
• Antifreeze and coolant companies in the U.S. are increasing their interest in the development of performance-specific coolants with rising demand from the automotive and industrial sectors.
• Prominent players have developed Extended Life Coolants for heavy duty applications. The effect of such developments, with their powerful marketing and engineering, is speculated to reshape the North America antifreeze and coolants market.
• Recent industrialization coupled with increase in the number of HVAC equipment, is also expected to drive the growth of the North America antifreeze and coolants market over the forecast period.
• Adoption of antifreeze/coolants is also driven by expansion of manufacturing facilities, increasing use in aerospace applications, and emerging technologies in electronics industries across North America.
• The U.S accounts for more than half of the North America antifreeze and coolants market share. Yet, due to the fall of economic sectors of various countries, there has been steep downgrades since the COVID-19 pandemic has begun. However, economies are recovering from the effects and adapting to new industry protocols, and the antifreeze/coolants industry is expected to experience unprecedented growth owing to new developments.

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North America Antifreeze and Coolants Market: Conclusion

In recent times, the antifreeze and coolants industry has witnessed substantial growth due to the rising automotive sector. The North America antifreeze and coolants market is anticipated to influence product innovation, with the high presence of manufacturers having a major share of companies operating in the aftersales channel. Key players focus on acquisition strategies and regional dominance to establish their products in the region. Additionally, stringent regulatory norms pertaining to antifreeze/coolant disposal will proliferate the North America antifreeze and coolants market throughout the stipulated period.

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