DUBLIN--(BUSINESS WIRE)--The "Automotive Antifreeze Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive antifreeze market size reached US$ 3.75 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 5.2 Billion by 2027, exhibiting a CAGR of 5.6% during 2021-2027.
Companies Mentioned
- AMSOIL Inc.
- BP p.l.c.
- Chevron Corporation
- Cummins Inc.
- ExxonMobil Corporation
- Fuchs Petrolub SE
- Halfords Group PLC
- Motul S.A
- Prestone Products Corporation
- Recochem Inc.
- Shell plc
- TotalEnergies SE
- Valvoline Inc.
- VOLTRONIC GmbH
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Automotive antifreeze is a colored liquid that is used as an additive along with water to maintain the temperature of the internal combustion engine (ICE). Ethylene glycol, propylene glycol, and glycerin are some commonly used automotive antifreeze fluids. They are produced through organic acid technology (OAT), inorganic additive technology (IAT), and hybrid organic acid technology (HOAT).
Automotive antifreeze is widely used to regulate the engine during extreme weather conditions and protect it from corrosion. It acts by lowering the water's freezing point and raising its boiling point, which, in turn, protects the engine from extensive damage, explosion, and overheating.
Market is primarily being driven by significant growth in the automotive industry. Automotive antifreeze is widely used in passenger and commercial vehicles to maintain optimum fuel economy, reduce maintenance costs, prevent breakdowns, rust, and electrolysis, and extend the life of rubber and plastic components.
Furthermore, the widespread utilization of heavy-duty antifreeze in construction equipment, such as bulldozers, excavators, harvesters, trenchers, and forklifts, is providing a considerable boost to market growth. Additionally, the introduction of environmental-friendly and bio-based antifreeze, such as glycerin that can be produced from corn, stover, and other oil-rich sources, is providing an impetus to market growth.
Moreover, the rising demand for high-quality, technologically advanced additive supplements in antifreeze to improve the health and longevity of diesel engines by inhibiting corrosion and cavitation is creating a positive outlook for the market.
Other factors, including the implementation of various government initiatives promoting the use of high-performance lubricants to reduce carbon footprints and extensive research and development (R&D) activities to engineer cost-effective and non-toxic product variants with extended life, are anticipated to drive the market toward growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automotive antifreeze market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on fluid type, technology, vehicle type and distribution channel.
Breakup by Fluid Type:
- Ethylene Glycol
- Propylene Glycol
- Glycerine
Breakup by Technology:
- Inorganic Additive Technology (IAT)
- Organic Acid Technology (OAT)
- Hybrid Organic Acid Technology (HOAT)
Breakup by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
- Construction Vehicle
Breakup by Distribution Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global automotive antifreeze market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global automotive antifreeze market?
- What are the key regional markets?
- What is the breakup of the market based on the fluid type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global automotive antifreeze market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/jfgj5s
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