Europe Antifreeze Coolant Market Size Estimated to Observe Significant Growth During 2014-2020
Chemicals utilised in the manufacture of anti-freeze coolants are toxic in nature and are derived from conventional energy sources. These chemicals are not eco-friendly. Owing to this concern, efforts are being made to develop chemicals such as propylene glycol from renewable sources or materials such as corn,stover, oil bearing crops, and other bio-based resources. Recycled ethylene glycol from processes such as distillation, reverse osmosis, and ion exchange is also gradually making its mark in the market for utilisation as an engine coolant. Recent research and development efforts are also being undertaken to explore opportunities in utilisation of 1,3 Propanediol and glycerin in development of coolant-based fluids.
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Anti-freezing coolant has growth potential with the rising demands of the automobile and aerospace segments. Analysis shows that the European market, due to its geographical location, is the most lucrative market followed by APAC and North America for anti-freezing coolants. In Europe, 75% of freight is transported through roads. Most countries in Europe witness snowfall which hampers the efficiency of transportation in Europe. This is the main reason for anti-freezing coolants finding a prominent place in Europe. Besides this, around 16.2 million automobiles are manufactured across 25 countries in Europe. Also, most of the high performance four wheeler companies are located in Germany, UK, France, Italy and Poland. The demand for heavy trucks and light vehicles across Europe will fuel the anti-freeze coolants market.
The aerospace segment is the next big enduse segment for anti-freeze coolants. The European aerospace market is the global leader in aerospace product exports. France, UK, and Germany are home to the leading aerospace manufacturers followed by Poland, and Sweden. Heavy financial investment is made in R&D for the aerospace sector. Stabilisation of the European economy in future will increase the demand for effective anti-freezing coolants.
APAC is the next potential market after Europe. Rise in demand for passenger vehicles in emerging economies such as China and India will drive the anti-freeze market vertically upwards.
North America is the next lucrative market for business enterprises offering anti-freeze coolants. The automotive industryhas been expanding its business in the Canadian, USA and Mexican markets. This expansion will offer a lucrative market for anti-freeze coolants manufacturers. Canada and Mexico will see a CAGR growth of 8% in automotive coolants.
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The aforementioned technological advancements, usage and application across automotive, heat exchangers and aerospace segment are expected to drive growth in consumption of these coolants across the world. Advancements in aerospace and automotive technologies are likely to trigger healthy double digit growth in the anti-freeze coolant market which may even lead to 1.5 times the growth of the conventional coolants market. Some of the players identified in the marketplace include DOW Chemical Company, Chevron, BASF, Kost USA Inc., and others.
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