Anti-Freeze/Coolant Market Analysis
The global anti-freeze market is mainly driven by the high demand from the automotive industry. High production and sales of automobiles around the world are driving the demand for anti-freeze. Besides its function in cooling engines, coolant also contains ingredients called inhibitors that inhibit rust, corrosion, and scale. They prevent cavitation, the rapid formation and collapse of vapor or air pockets, which is a frequent cause of structural damage. The increasing demand for durable vehicles can be attributed to the high disposable income of consumers along with changing lifestyle trends.
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Furthermore, rapid industrialization around the world is expected to fuel market demand during the forecast period. These coolants ensure the performance of engines and heat exchangers in various industrial applications. Moreover, the increasing use of coolants in the aerospace industry for anti-icing and de-icing materials is likely to propel the demand during the review period. The increasing adoption of HVAC systems in commercial construction is another major factor driving product demand. Research and development on the usage of 1, 3 Propanediol and glycerin in the development of coolant-based fluids is expected to offer substantial growth opportunities to players in the market. However, fluctuations in raw material prices and the difficulties associated with the disposal and recycling of these coolants may hamper market growth.
Product development is one of the recent trends observed in the market. For instance, in 2017, MOTUL launched a new additive range to be mixed with fuels, which includes detergent molecules that act in the combustion chamber as well as in the fuel circuit and injectors. In another instance, Old World Industries, LLC accepted the AutoZone Extra Miler Award for PEAK’s launch of Original Equipment Technology (OET) Coolant on 15 June 2018.
Regional Analysis
The global anti-freeze/coolant market has been analyzed with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. The market in Asia-Pacific dominated the global market in 2017 due to an increase in the demand and production for automobiles in the region. Rapid industrialization in emerging nations such as India, China, and Indonesia is another driver of the anti-freeze market in Asia-Pacific. Additionally, the growing electronics industry in countries such as Japan, India, and China is expected to propel product demand during the forecast period. This is due to the presence of corrosion inhibitors in anti-freeze, which prevent corrosion of electronic.
The North American market accounted for the second-largest share in 2017 due to increased demand for anti-freeze/coolant from the flourishing construction industry and the reviving automotive industry in the region. Also, the growth of the electronics and the aerospace industries, which use anti-freeze as anti-icing and de-icing materials, is fueling product demand.
The European market is likely to see considerable growth as construction activities abound in Western European countries.
The Latin American market is projected to grow at a significant rate due to the development of growth-centric countries such as Argentina, Brazil, and Chile.
The market in the Middle East & Africa is likely to grow substantially in light of the construction and infrastructure activities in the GCC countries.
Segmental Analysis
The global anti-freeze/coolant market has been segmented by type, product, end-use industry, and region.
On the basis of type, the global market has been segmented into green anti-freeze, OAT anti-freeze, HOAT anti-freeze, and NOAT anti-freeze.
Based on product, the market has been segmented into ethylene glycol, propylene glycol, methanol, and glycerine.
By end-use industry, the market has been segmented into automotive, aerospace, construction, industrial, electronics, and others.
Key Players
Some of the prominent players operating in the global anti-freeze market are BP p.l.c. (U.K), Shell Global (Netherlands), Exxon Mobil Corporation (U.S.), Chevron Corporation (U.S.), Total S.A. (France), BASF SE (Germany), DowDuPont (U.S.), OLD WORLD INDUSTRIES, LLC (U.S.), Prestone Products Corporation (U.S.), AMSOIL INC. (U.S.), KOST USA, Inc. (U.S.), Motul (France), Cummins Inc. (U.S.), Lukoil (Russia), and Petronas (Malaysia).
Intended Audience
- Anti-freeze/coolant market manufacturers
- Traders and distributors of anti-freeze/coolant
- Production process industries
- Potential investors
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