Press release
Antifreeze/Coolant Market Analysis: $7.19 Billion by 2029 With a CAGR of 4.7%
Antifreeze/Coolant Market
Antifreeze/Coolant Market Value Projection: How Much Will the Market Size by 2025?
The market for antifreeze/coolant has demonstrated a consistent growth in recent years. This is projected to continue, with an increase from $5.85 billion in 2024 to $5.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 2.4%. Factors contributing to this growth during the historical period include expansion in the automotive industry, an upsurge in vehicle ownership, severe weather conditions, regulatory norms for engine coolants, an expanded commercial vehicle fleet and the incorporation of electric and hybrid vehicles.
What Will Be the Market Growth Forecat for Antifreeze/Coolant in 2029?
The market size of antifreeze/coolant products is set to experience a stable upward trajectory in the coming years, reaching a value of $7.19 billion in 2029 with a compound annual growth rate (CAGR) of 4.7%. This upward trend during the projected years can be associated with changes in global climate, an increase in aftermarket services, tougher environmental rules, growing public awareness about the relevance of coolants, and partnerships with automotive original equipment manufacturers (OEMs). The future pattern is likely to be dictated by factors such as innovation in coolant technologies, advancements in car engine technologies, increased usage of organic acid technology (OCT) and hybrid organic acid technology (HOCT), focus on environmental preservation, and the introduction of low-toxicity and biodegradable formulations.
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What Are the Core Competitive Drivers in the Antifreeze/Coolant Industry?
The escalation in the manufacturing of vehicles is predicted to spur the surge of the antifreeze/coolant market. This entails the manufacture of passenger cars, light trucks, and utility vehicles, including minivans, pickup trucks, and sport utility vehicles. Antifreeze or coolant functions to stabilize engine heat, prevent extremes of freezing or overheating, and offer protection against rust or corrosion. For instance, the European Automobile Manufacturers Association, a trade group located in Belgium, reported in May 2023 that global motor vehicle production in 2022 hit 85.4 million units, marking a 5.7% rise from 2021. Hence, the expansion of vehicle production serves as a propellant for the antifreeze/coolant market.
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Which Antifreeze/Coolant Market Segment Is Projected to See the Fastest Growth?
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
Which Trends Are Opening New Opportunities in the Antifreeze/Coolant Market?
Prominent players in the market are concentrating on the creation of pioneering technologies such as Organic Acid Technology (OAT), a coolant formulation employing organic acids to stave off corrosion. Taking an example, in August 2022, Valvoline Inc., a company based in the United States manufacturing automotive chemicals and lubricants, introduced an advanced coolant that incorporated OAT. This coolant aims to improve engine functionality and extend its lifespan, managing the changing needs of contemporary engines, which operate under more and more intricate and demanding circumstances. This antifreeze coolant, based on glycol, is ideal for all cars and commercial transport, offering a noteworthy drain interval of either 500,000 km or 5 years. The coolant's distinctive backward compatibility permits its usage across all cooling systems, including both older engine models and BSVI. By giving enhanced protection against corrosion and rust, it guarantees the best engine health even in severe temperature conditions.
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Who Are the Leaders in the Antifreeze/Coolant Market?
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
Which Regional Antifreeze/Coolant Markets Offer the Greatest Growth Potential?
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.
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