North America Antifreeze And Coolants Market will surpass US$ 2.3 Bn revenues towards the end of 2030

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 American antifreeze and coolants market is expected to grow significantly during the forecast period (2021-2030) due to the increasing demand for vehicles and the growth of the automotive industry in the region. Antifreeze and coolants are essential components of vehicles and are used to maintain the optimal operating temperature of the engine. The rising concern for vehicle performance, reliability, and fuel efficiency is driving the demand for high-quality antifreeze and coolants in the North American market.

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Market Segmentation:

The North American antifreeze and coolants market can be segmented based on product type, vehicle type, and distribution channel.

• Based on product type, the market can be segmented into glycol-based and OAT (Organic Acid Technology) antifreeze and coolants.

• Based on vehicle type, the market can be segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.

• Based on the distribution channel, the market can be segmented into original equipment manufacturers (OEMs), aftermarket, and online channels.

Market Dynamics:

Drivers: The increasing demand for vehicles, technological advancements in antifreeze and coolants, and the growing concern for vehicle performance and reliability are some of the key drivers of the North American antifreeze and coolants market.

Restraints: The high cost of antifreeze and coolants and the lack of awareness among consumers about the importance of using high-quality products are some of the key restraints in the market.

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Market Players:

• 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

New technologies introduced by manufacturers that offer improved performance , greater efficiency , better protection against harsh weather environments will further fuel market growth over the forecast period . Additionally , tight emission norms imposed by governmental authorities will increase sales figures significantly throughout North America . Furthermore , North American partners have started investing heavily into research activities which should lead to new innovations within this space resulting in further opportunities for growth .

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Conclusion:

The North American antifreeze and coolants market is expected to grow significantly during the forecast period due to the increasing demand for vehicles and the growth of the automotive industry in the region. The key players in the market are focusing on expanding their product portfolio, strengthening their distribution networks, and investing in research and development activities to meet the rising demand for antifreeze and coolants in the North American market.

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