Antifreeze Market Overview:
The global antifreeze market was estimated at USD 688 million in 2021 and is anticipated to develop at a CAGR of 5.18% during the evaluation time frame.
Antifreeze is an added substance that assists with dealing with the temperature of the motor of a vehicle by diminishing the freezing point and expanding the boiling point of the cooling framework. It tends to be created from either natural acid, inorganic salts, and azoles or a blend of every one of the three. It keeps rigid enclosures in areas from blasting because of extension from freezing. Prior, methanol was the significant element for motor coolant as antifreeze and was generally utilized in windshield liquids, however later its utilization step by step declined because of the need for continuous substitution and erosion of the metals, particularly aluminum, used in the motor and cooling frameworks. Methanol-based antifreeze is subbed by antifreeze with ethylene glycol as the significant ingredient, which has less instability and requires fewer substitutions.
Expanding vehicle manufacture, particularly SUV and light truck fragment and ongoing developing pattern in trucks and buses section in nations, for example, India is the key reason driving the interest for the OE market for antifreeze. Increasing vehicle activities and expanded miles voyaged every year is assessed to stimulate the interest for antifreeze in the aftermarket portion.
Antifreeze Market Recent Developments:
Drivers and Restraints of Antifreeze Market:
Drivers:
The development of the global antifreeze market is legitimately connected with rising vehicle manufacture, as the coolant is fundamental for cooling the motor. In this manner, growing vehicle manufacture is considered as one of the most significant drivers for the motor coolant in the OE market. The construction industry is blasting attributable to lodging demand, construction undertakings, commercialization, and expanded construction budgets in developing nations. Such exploding construction industry needs development hardware which prompts the expanded interest of motor coolant.
Restraints:
Increasing environmental concerns have offered to ascend to the need of developing interchange advancements in the vehicle business. One such technology is the improvement of battery electric vehicles (BEVs). These vehicles work on batteries and different control units which improve execution as well as invalidate discharges. Battery-powered electric vehicles diminish the utilization of an internal combustion motor, accordingly further wiping out the usage of coolants.
Antifreeze Market Segmentation:
By Product:
Ethylene glycol-based antifreeze market share drove the interest and represented over 55% of the worldwide share in 2016. This is for the most part because of its remarkable properties, which include miscibility for water, the capacity to be blended to any extent to form coolant, and so on. Item has the point of freezing of 9°F (12.9 °C) and a boiling point of 387 °F (197.3 °C) which makes it pertinent as a coolant in the vehicle industry to keep up the vehicle motor at the ideal temperature. Quickly rising vehicle segments in the Asia Pacific, principally in China and India will make a critical commitment to coolant market size over the anticipated period.
By Additive Technology:
Antifreeze market share for Organic Acid Technology (OAT) is foreseen to develop at a CAGR of over half over the anticipated period. In OAT, the corrosion inhibitors are ultimately killed organic acids and azoles. Moreover, it gives astounding assurance to aluminum and magnesium-based motors which are utilized in present-day engines and thus make it alluring across the vehicle industry. The previously mentioned esteem, including item properties, will help make a massive commitment to coolant market size in the coming years.
By Application:
Antifreeze market for vehicle represented over 60% of the total business size in 2016. It is ordinarily appropriate in the vehicle industry to help keep up the ideal temperature inside the vehicle's motor by lessening abundance heat which is created when it runs and hence, staying away from serious harm to its internal segment. The product has a superb thermal limit, synthetic inactivity, low thickness, anti-corrosive and non-lethal properties, which makes it alluring for vehicle application.
By Vehicle Type:
The manufacture of passenger vehicles around the world has developed from 68.6 million units in 2015 to 72.1 million units at a pace of 5.1%. The expanded deals of passenger vehicles are because of the improved way of life and per capita revenue in different nations. Consequently, the sales and manufacture of passenger vehicles are expanding and prompting expanded interest for motor coolant and antifreeze.
Antifreeze Market Region-wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
The North American antifreeze market drives the global business, inferable from the higher manufacture and interest for huge motor capacity vehicles in this area, for example, extended taxis. The vehicle market in this locale is inclining towards SUVs and light trucks, owing to their rough terrain capacities and better footing in changing climate conditions.
Asia Pacific antifreeze market is relied upon to encounter a noteworthy development over the estimated time frame due to the developing interest for passenger vehicles and lightweight commercial vehicles in nations including India, Indonesia, Japan, and China. In addition, the commonness of major vehicle producers in the district including Nissan Motor organization, Toyota Industries, and Komatsu alongside expanding government spending in India and China will make tremendous market potential over the forecast period.
Key Players of Market:
The key market players of this market include Royal Dutch Shell, Chevron Philips Chemical Co., Kost USA, Exxon Mobil Corporation, Total S.A., Ashland Inc, Castrol, PETRONAS, BASF SE, Sinopec Corporation, Dow Chemicals, and DuPont
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Antifreeze Market, By Product
6.1.1 Ethylene Glycol
6.1.2 Propylene Glycol
6.1.3 Glycerin
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Antifreeze Market, By Technology
6.2.1 IAT
6.2.2 HOAT
6.2.3 OAT
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Antifreeze Market, By Vehicle Type
6.3.1 Passenger Vehicle
6.3.2 Commercial Vehicle
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Antifreeze Market, By Application
6.4.1 Articulated Dump Truck
6.4.2 Backhoe Loader
6.4.3 Crawler Dozer
6.4.4 Asphalt Paver
6.4.5 Motor Grader
6.4.6 Motor Scraper
6.4.7 Crawler Loader
6.4.8 Mini Excavator
6.4.9 Skid-Steer Loader
6.4.10 Wheeled Excavator
6.4.11 Market Size Estimations & Forecasts (2019-2024)
6.4.12 Y-o-Y Growth Rate Analysis
6.4.13 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product
7.2.3 By Technology
7.2.4 By Vehicle Type
7.2.5 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product
7.3.3 By Technology
7.3.4 By Vehicle Type
7.3.5 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Technology
7.4.4 By Vehicle Type
7.4.5 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product
7.5.3 By Technology
7.5.4 By Vehicle Type
7.5.5 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product
7.6.3 By Technology
7.6.4 By Vehicle Type
7.6.5 By Application
8. Key Player Analysis
8.1 Royal Dutch Shell
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Chevron Philips Chemical Co
8.3 Kost USA
8.4 Exxon Mobil Corporation
8.5 Total S.A
8.6 Ashland Inc
8.7 Castrol
8.8 PETRONAS
8.9 BASF SE
8.10 Sinopec Corporation
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
