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Antifreeze/Coolant Market: In-Depth Industry Research, Market Dynamics, Growth Drivers, and Future Forecasts to 2033
Antifreeze/Coolant Market
As per the report, the antifreeze/coolant market size has grown steadily in recent years. It will grow from $5.64 billion in 2023 to $5.89 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The antifreeze/coolant market size is expected to see steady growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
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Increasing Vehicle Production Fuels Antifreeze/Coolant Market Growth
Increasing vehicle production is expected to propel the antifreeze/coolant market going forward. Vehicle production refers to the production of passenger cars, light trucks, and utility vehicles, such as minivans, pickup trucks, and sport utility vehicles. Antifreeze or coolant helps to regulate engine temperature, prevent freezing or overheating, and protect against rust or corrosion. For instance, in May 2022, according to an article published by CEIC Data, a US-based provider of macro and micro economic data insights, in the USA, 9.2 million units of motor vehicles were produced in December 2021, a rise from 8.8 million units in December 2020. Therefore, increasing vehicle production is driving the antifreeze/coolant market.
Valvoline Introduces High-Performance Coolant Technologies With Si-OAT For Modern Engines
Technological innovations are the key trends gaining popularity in the antifreeze/coolant market. Major market players are concentrating on creating innovative technologies such as state-of-the-art silicate organic acid technology (Si-OAT), NAP-free hybrid organic acid technology, and phosphate-free organic acid technology (P-OAT). For instance, in August 2021, Valvoline Inc., a US-based lubricants and automotive chemicals manufacturing company, launched new coolant technologies, Valvoline Antifreeze Coolant HT-12 Green and Valvoline Antifreeze Coolant HT-12 Pink. This high-performance coolant, which contains mono-ethylene glycol Si-OAT technology and advanced performance additives, offers enhanced heat dissipation properties. It is designed to meet the specific requirements of modern, high-powered, compact engines, providing reliable protection against corrosion, overheating, and frost damage to the engine block cooling channels, radiator, and water pump.
The antifreeze/coolant market covered in this report is segmented -
1) By Product: Propylene Glycol, Ethylene Glycol, Other Products
2) By Technology: Inorganic Additive Technology (IAT), Organic Acid Technology (OAT), Nitrite Organic Acid Technology (NOAT), Hybrid Organic Acid Technology (HOAT), Other Technologies
3) By Application: Industrial, Automobiles, Other Applications
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Major companies operating in the antifreeze/coolant market report are Exxon Mobil Corporation, Royal Dutch Shell PLC, TotalEnergies, Chevron Corporation, BASF SE, Honeywell International Inc., Cummins Inc., Solar Thermo Fluids, Public Joint Stock Company, Fuchs Petrolub SE, Valvoline LLC, Camco Manufacturing Inc., Amsoil Inc., British Petroleum plc, MOTUL, Carl Bechem Lubricants India Pvt. Ltd., Comma Oil & Chemicals Ltd., Prestone Products Corporation, Recochem Corporation, Old World Industries LLC, Pentosin-Werke GmbH, Arteco NV, Bar's Products Inc., International Lubricants Inc., Liquid Intelligence Pty Ltd, Silverhook Ltd., Environmental Manufacturing Solutions LLC., Evans Cooling Systems Inc., Peak Antifreeze & Coolant LLC
Contents of the report:
1. Executive Summary
2. Antifreeze/Coolant Market Report Structure
3. Antifreeze/Coolant Market Trends And Strategies
4. Antifreeze/Coolant Market - Macro Economic Scenario
5. Antifreeze/Coolant Market Size And Growth
…..
27. Antifreeze/Coolant Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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