Press release
Antifreeze/Coolant Market Size Forecasted To Achieve $7.38 Billion By 2029 With Steady Growth
Antifreeze/Coolant
What Is the Antifreeze/Coolant Market Size and Projected Growth Rate?
Over the recent years, the market size for antifreeze/coolant has exhibited consistent growth. The predictions show an increase from $5.85 billion in 2024 to $6.07 billion in 2025, with a compound annual growth rate (CAGR) of 3.8%. The historical period growth is attributable to factors such as the expansion of the automotive industry, the surge in vehicle ownership, harsh weather conditions, regulatory norms surrounding engine coolants, growth in the commercial vehicle fleet, and the integration of electric and hybrid vehicles.
In the coming years, the antifreeze/coolant market is projected to experience consistent growth, with its worth escalating to $7.38 billion in 2029 at a CAGR of 5.0%. The predicted expansion during the forecast period can be linked to factors such as worldwide climate change patterns, increase in aftermarket services, stricter environmental laws, heightened consumer knowledge about coolant significance, and partnerships with automotive OEMs. Key trends expected during the forecast period encompass advancements in coolant technologies, technological progression in automobile engines, the growing application of Organic Acid Technology (OAT) as well as Hybrid Organic Acid Technology (HOAT), a focus on ecological sustainability, and the creation of low-toxic and biodegradable solutions.
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What Are the Major Segments in the Antifreeze/Coolant Market?
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
Subsegments:
1) By Propylene Glycol: Propylene Glycol-Based Antifreeze, Propylene Glycol-Based Coolants
2) By Ethylene Glycol: Ethylene Glycol-Based Antifreeze, Ethylene Glycol-Based Coolants
3) By Other Products: Water-Based Coolants, Additives, Bio-Based Antifreeze/Coolants
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What Are The Driving Antifreeze/Coolant Market Evolution?
The surge in vehicle manufacturing is predicted to drive the antifreeze/coolant market. This encompasses the production of passenger cars, light trucks, and utility vehicles including minivans, pickup trucks, and sport utility vehicles. Antifreeze or coolant plays a crucial role in tempering engine temperature, preventing it from freezing or overheating, and safeguarding it against rust or corrosion. For example, the European Automobile Manufacturers Association, a Belgium-based industry group, stated in May 2023, that there was a global production of 85.4 million motor vehicles in 2022. This figure marks a 5.7% increase compared to the previous year, 2021. As a result, the antifreeze/coolant market is experiencing a growth due to the increasing production of vehicles.
Which Firms Dominate The Antifreeze/Coolant Market Segments?
Major companies operating in the antifreeze/coolant market include 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., 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
What Trends Are Expected to Dominate the Antifreeze/Coolant Market in the Next 5 Years?
Key players of the industry are focusing on creating cutting-edge technology like Organic Acid Technology (OAT), which uses organic acids to prevent corrosion. For example, Valvoline Inc., based in the US and a well-known manufacturer of lubricants and car chemicals, introduced a new coolant featuring OAT in August 2022. The aim of this coolant is to improve engine performance and lifespan, addressing the growing needs of modern-day engines that operate in challenging and complicated conditions. It's worth noting that this coolant, which is glycol-based and full antifreeze, is fit for any car or commercial vehicle. It provides a commendable drain interval of 5 years or 500,000 km. Its unique backward compatibility means it can be used for all cooling systems, even BSVI and older engines. Providing superior rust and corrosion protection, the coolant maintains engine health, even under harsh temperature conditions.
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Which Is The Largest Region In The Antifreeze/Coolant Market?
Asia-Pacific was the largest region in the antifreeze/coolant market in 2024. North America is expected to be the fastest-growing region in the global antifreeze/coolant market report during the forecast period. The regions covered in the antifreeze/coolant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Antifreeze/Coolant Market?
2. What is the CAGR expected in the Antifreeze/Coolant Market?
3. What Are the Key Innovations Transforming the Antifreeze/Coolant Industry?
4. Which Region Is Leading the Antifreeze/Coolant Market?
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