Press release
Global Antifreeze/Coolant Market: Steady Growth, Key Player Influence, and Rising Market Trends
Antifreeze/Coolant Market Growth
What Is The Projected Market Size Of The Global Antifreeze/Coolant Market And Its Growth Rate?
• The antifreeze/coolant market will grow from $5.85 billion in 2024 to $6.07 billion in 2025, navigating a compound annual growth rate (CAGR) of 3.8%.
• Factors contributing to the growth during the historic period included the growth in the automotive industry, rise in vehicle ownership, and extreme weather conditions.
• Antifreeze/coolant market size is expected to climb to $7.38 billion in 2029 at a CAGR of 5.0%.
• Growth in the forecast period will be driven by global climate change trends, the expansion of aftermarket services, stringent environmental regulations, and the rising consumer awareness of the importance of coolant.
What Is Driving The Growth In The Antifreeze/Coolant Market?
Increasing vehicle production is a significant booster for the antifreeze/coolant market. With global motor vehicle production reaching 85.4 million units in 2022, antifreeze or coolant's role in regulating engine temperature and preventing rust or corrosion has become more crucial than ever. Therefore, the surge in vehicle production is fueling the antifreeze/coolant market.
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Who Are the Key Players Driving Antifreeze/Coolant Market Growth?
• Exxon Mobil Corporation
• Royal Dutch Shell PLC
• TotalEnergies
• Chevron Corporation
• BASF SE
• Honeywell International Inc.
• Solar Thermo Fluids
• Fuchs Petrolub SE
• Valvoline LLC
• Camco Manufacturing Inc.
• Amsoil Inc.
• British Petroleum plc
• MOTUL
• Carl Bechem Lubricants India Pvt. Ltd.
• Comma Oil & Chemicals Ltd.
What Are The Key Trends In The Antifreeze/Coolant Market?
• Advancements in coolant technologies
• Technological advancements in automotive engines
• Rising adoption of organic acid technology (OAT) and hybrid organic acid technology (HOAT)
• Emphasis on environmental sustainability
• Development of low-toxicity and biodegradable formulations
What Are The Segments Of The Global Antifreeze/Coolant Market?
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
Which Region Leads The Antifreeze/Coolant Market?
The Asia-Pacific region was the largest in the antifreeze/coolant market in 2024. However, North America is expected to be the fastest-growing region in the global market report during the forecast period.
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What Is Covered In The Antifreeze/Coolant Market Global Market Report?
- Market Size Analysis: Analyze the Antifreeze/Coolant Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Antifreeze/Coolant Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Antifreeze/Coolant Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Antifreeze/Coolant Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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