Global Antifreeze/Coolant Market is valued approximately USD 5.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 1.8 % over the forecast period 2020-2027.
Antifreeze coolant is mixed with water in vehicles to keep the engine and radiators from overheating and freezing. These coolants are used to ensure the transfer of heat under extremely cold conditions and controls the temperature of fluids and engine components in all climatic conditions. Antifreeze coolant prevents corrosion and scale formation in the engine.
The global Antifreeze/Coolant market is facing challenges due to the coronavirus pandemic as temporary locked down slackening the demand for vehicle and manufacturing operations are at halt. However, rising vehicle production and PARC fueling the Office of Electricity (OE) and aftermarket for antifreeze and engine coolant and increasing sales of construction equipment driving the demand for engine coolant and antifreeze are the few factors responsible for growth of the market over the forecast period. For instance: according to Statista, the number of vehicle produced in 2002 was 59 million and is increased by 92 million of vehicle production across the world in 2019. Whereas, growing demand of battery operated electric vehicles is the major factor restraining the growth of global Antifreeze/Coolant market during the forecast period.
The regional analysis of global Antifreeze/Coolant market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia pacific is the leading/significant region across the world owing to the developing transport infrastructure, growing ambition to own private vehicles, increasing mobility, and increasing demand for goods carriers from micro, small & medium-size enterprises. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Royal Dutch Shell Plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
by Base Fluid:
Ethylene Glycol (EG)
Propylene Glycol (PG)
Organic Acid (Additive) Technology (OAT)
Hybrid Organic Acid Technology (HOAT)
Inorganic Acid Technology (IAT)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year a?? 2017, 2018
Base year a?? 2019
Forecast period a?? 2020 to 2027
Target Audience of the Global Antifreeze/Coolant Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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