Automotive Coolant Market Estimated to Exceed US$ 6.3 Billion Globally By 2027 | CAGR of 5.6%

According to the latest report by IMARC Group, titled "Automotive Coolant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on automotive coolant market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global automotive coolant market size reached US$ 4.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2027, exhibiting a growth rate (CAGR) of 5.6% during 2022-2027.

Coolant is found in two forms, i.e., gas and liquid, and are used in reducing or regulating the heat of a system. The mixture of propylene glycol, ethylene, and water is used in the automotive system to make it more efficient. It is used to prevent the engine from overheating. It regulates the car's temperature by absorbing and eliminating heat through the radiator. It prevents the cooling system's corrosion by removing the engine's excess heat and limiting the damage to the engine in the long run. It further helps in reducing the requirement for repairs and maintenance of the car.

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Market Trends:

The global market is majorly driven by significant growth in the automotive industry. In line with this, the soaring sales of various commercial vehicles are positively influencing the demand for automotive coolants. Furthermore, numerous firms have developed coolants with the use of advanced technologies, such as Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT), and Inorganic Acid Technology (IAT), thus adding to the market value. Apart from this, the flourishing e-commerce sector, developing infrastructure, and a considerable rise in vehicle fleets are other major growth-inducing factors. Besides this, several automobile manufacturers are engaged in introducing newer brands and products to offer their customers customized coolant and lubricant solutions, thereby expanding the automotive coolant market share. Additionally, rapid technological advancements in automotive coolants are expected to significantly contribute to market expansion.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

• Total S.A
• ExxonMobil
• Castrol Limited
• British Petroleum
• Cummins Inc.
• Royal Dutch Shell
• BASF
• Chevron
• LUKOIL
• Motul S.A.
• Sinopec

Automotive Coolant Market Segmentation:

Our report has categorized the market based on region, product, type, application and end-user.

Breakup by Product:
• Ethylene Glycol
• Propylene Glycol
• Glycerin

Breakup by Type:
• Inorganic Acid
• Organic Acid
• Hybrid Organic Acid
• Others

Breakup by Application:
• Passenger Cars
• Commercial Vehicles
• Two Wheelers
• Others

Breakup by End-User:
• OEM
• Aftermarket

Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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

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This release was published on openPR.