Industrial Coolants Market : Competitive Landscape & Growth Opportunities 2017 - 2025
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Key properties of industrial coolants include low viscosity, high thermal capacity, non-toxic, low-cost, and chemical inertness. An ideal industrial coolant should not cause corrosion to the cooling system and other engine/machine parts. Majority of industrial coolants are used in various industries such as automotive, oil & gas, power generation, and chemicals. Industrial coolants must control the machine/engine temperature in all weather conditions without freezing or overheating. Special additives are added to industrial coolants to prevent chemical deterioration and freezing. Industrial coolants use special anti-corrosive additives to prevent internal corrosion of engine/machine parts in the automotive industry.
Three types of industrial coolants are used around the globe: green anti-freeze coolants, oat anti-freeze coolants, and HOAT anti-freeze coolants. Green anti-freeze coolants are the most common type of industrial coolants used around the globe. These coolants consist of phosphate and silicate additives, which provide protection to bare iron surfaces and aluminum parts of the machinery. HOAT anti-freeze coolants stand for organic acid technology. These types of industrial coolants contain organic acids such as sebacate, 2-EHA, and other various organic acids. HOAT anti-freeze coolants do not contain phosphates or silicates as found in green anti-freeze coolants. HOAT anti-freeze industrial coolants stand for hybrid OAT industrial coolants. These types of industrial coolants comprise organic acids with silicates and phosphates to provide protection for aluminum and metallic surfaces of machinery and engines. Most HOAT industrial coolants are used by car manufacturers around the globe.
Rise in industrialization, emerging economies, and growth in the automotive aftermarket are expected to drive the industrial coolants market in the near future. Increase in usage of industrial coolants in industries such as automotive, power generation, chemicals, electronics, automobiles, and aerospace & defense is also anticipated to boost the market for industrial coolants around the globe. North America followed by Asia Pacific and Europe are the growing regions of the market in terms of consumption. The market for industrial coolants in Asia Pacific is estimated to expand at a rapid pace due to the rapid industrialization and expansion of economy in the region. Increase in cost of raw materials and growth in production of electric vehicles are major restraints of the industrial coolants market.
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Kay players operating in the industrial coolants market are Huntsman Corporation, Exxon Mobil Corporation, Cummins Filtration, Chem Arrow Corporation, Houghton International Inc., The Dow Chemical Company, Commonwealth Oil Corporation Company, Total Oil, JTM Products Inc., W.S.Dodge Oil Co. Inc., and LUBRICANTS INDIA.
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