Automotive Coolant Market Segments, Industry Growth, Size, Share, Key Players Analysis, Report 2023-2028

According to the latest report by IMARC Group, titled "Automotive Coolant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Automotive coolant, commonly known as antifreeze, is an essential fluid for vehicles, formulated to regulate engine temperature and prevent overheating. This liquid solution is a mix of water and additives that carry heat away from the engine and dissipate it through the radiator. Coolants are also imbued with anti-corrosive properties that protect the engine's internal components from rust and scale buildup. Variants include ethylene glycol, propylene glycol, and water-based coolants, each offering unique advantages such as lower freezing points and higher boiling points. The use of quality coolant ensures optimal engine performance, enhances fuel efficiency, and extends the lifespan of vehicle components, making it a critical product in automotive maintenance.

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Market Trends:

The global automotive coolant market is majorly driven by the continuous expansion of the automotive industry and the rising demand for high-performance vehicles. Along with this, enhanced engine designs and longer service intervals are increasing the need for durable and efficient coolants. Along with this, stringent environmental regulations are catalyzing the development of eco-friendly coolants, which minimize the ecological footprint by reducing harmful emissions and being biodegradable. In addition, the emergence of electric vehicles (EVs) is influencing the market, as these vehicles require coolants with higher thermal management capabilities. Additionally, the trend of vehicle customization and growing consumer awareness about regular maintenance are augmenting the demand for aftermarket coolants. Moreover, technological advancements in coolant formulations, aiming at longer lifespans and better heat transfer, are also instrumental in propelling the market forward. Some of the other factors driving the market include the automotive industry's shift toward sustainability and performance and the evolving needs of modern engines and environmental standards.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Total S.A. (Total)
• ExxonMobil
• Castrol Limited
• The British Petroleum Plc
• Cummins Inc.
• Royal Dutch Shell Plc
• BASF SE
• Chevron Corporation
• The PJSC LUKOIL
• Motul S.A.
• China Petrochemical Corporation (Sinopec Group)

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 (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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