Dublin, June 30, 2020 (GLOBE NEWSWIRE) -- The "Antifreeze/Coolant Market by Application (Automotive, Industrial), Base Fluid (Ethylene Glycol, Propylene Glycol and Glycerine), Technology, Regions (North America, Europe, APAC, Middle East & Africa, and South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global antifreeze/coolant market size was valued at USD 5.4 billion in 2020 to reach USD 5.9 billion by 2025 at a CAGR of 1.8%.
The global antifreeze/coolant industry will be driven primarily by the increase in the number of vehicles in operation worldwide. The growth in the HVAC systems and construction equipment industry are the other key factor contributing to the steady growth of the antifreeze/coolant market.
Automotive segment to lead the antifreeze/coolants market.
The automotive segment dominates the antifreeze/coolant market. The increase in the number of vehicles in operation at the global level is one of the factors driving the antifreeze/coolant market. This growth in the automotive sector can be attributed to the growing population, improved socio-economic conditions, emerging economies, expanding the e-commerce industry, improved infrastructure, increasing vehicle fleet, and other factors. The growth of the automotive engine coolant in the antifreeze/coolant market is directly related to the increase in the number of motor vehicles operating and total miles driven per year, as they play a mandatory role in the engine cooling system of a vehicle.
Ethylene glycol is projected to be the fastest-growing segment from 2020 to 2025.
Growth of ethylene glycol as a base fluid in the antifreeze/coolant industry is primarily attributed to its cost-effectiveness and its ability to be used in all climatic conditions, making it the most preferred base fluid across the globe. It is used as antifreeze in automotive engine cooling and is also used in many industrial cooling applications. Recycling of ethylene glycol from processes such as distillation, reverse osmosis, and ion exchange is also gradually making its mark in the market for utilization as engine coolant.
OAT technology is projected to be the fastest-growing segment in the antifreeze/coolant market from 2020 to 2025.
The OAT technology is projected to witness significant growth by 2025. Organic acid technology (OAT) is based primarily on carbon-based molecules, typically organic acids, to protect cooling system components. This technology has a life of about 5 years or 250,000 km in automotive applications. The technology is generally safe for both aluminium engines and rubber parts.
The antifreeze/coolant market in the Middle East & Africa (MEA) region is projected to grow at the highest rate during the forecast period.
The Middle East & Africa (MEA) region is projected to grow at the highest rate from 2020 to 2025. The demand from the automotive and heavy construction equipment is a key growth factor for the antifreeze/coolant market in the region. Major construction projects such as Etihad Rail, infrastructure for the FIFA World Cup 2022, and expansion of existing transportation networks are all expected to be completed during the forecast period. These infrastructural projects taken up in the MEA require heavy equipment which consumes antifreeze/coolant. This is expected to boost the growth of the antifreeze/coolant market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Antifreeze/ Coolant Market
4.2 Asia-Pacific: Antifreeze/Coolant Market, by Base Fluid and Country
4.3 Antifreeze/Coolant Market, by Base Fluid
4.4 Antifreeze/Coolant Market, by Technology
4.5 Antifreeze/Coolant Market, by Application
4.6 Antifreeze/Coolant Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Number of Vehicles in Operation Driving the Demand for Antifreeze/Coolant
5.2.1.2 Growing Sales of Construction Equipment Fueling Consumption of Antifreeze/Coolants
5.2.1.3 Growth in Demand for HVAC Systems
5.2.2 Restraints
5.2.2.1 Introduction of Coolants With Long Service Life
5.2.2.2 Increasing Trend of Engine Downsizing
5.2.2.3 Phase-Change Materials and Air-Cooling Based Battery Thermal Management System in Electric and Hybrid Vehicles
5.2.3 Opportunities
5.2.3.1 Battery Thermal Management Using Liquid Cooling Systems in Electric and Hybrid Vehicles
5.2.4 Challenges
5.2.4.1 Volatile Price of Raw Material
5.2.4.2 Recycling of Antifreeze/Coolant
5.3 Technological Analysis
5.3.1 Iat (Inorganic Acid Technology)
5.3.2 Oat (Organic Acid Technology)
5.3.3 Hoat (Hybrid Organic Acid Technology)
5.3.4 Advantages/Disadvantages of Technologies
5.3.5 Technologies and Usage of Corrosion Inhibitors Driven by Regional Preference and Engine Specification
5.4 Value Chain Analysis.
5.4.1 Introduction
5.4.2 Raw Materials
5.4.3 Manufacturing
5.4.4 Distribution & End-Use
5.5 Antifreeze/Coolant Patent Analysis
6 Impact of Covid-19 on Antifreeze/Coolant Market
7 Antifreeze/Coolant Market, by Base Fluid
7.1 Introduction
7.2 Ethylene Glycol
7.3 Propylene Glycol
7.4 Glycerine
8 Antifreeze/Coolant Market, by Application
8.1 Introduction
8.2 Automotive
8.3 Industrial
8.4 Others
9 Antifreeze/Coolant Market, by Technology
9.1 Introduction
10 Antifreeze/Coolant Market, by Region
10.1 Introduction
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Rising Consumer Spending Will Boost the Demand for Automobiles in the Country
10.2.2 Japan
10.2.2.1 Japan Accounts for Second-Largest Market Share of Asia-Pacific Antifreeze/Coolant Market
10.2.3 India
10.2.3.1 Increasing Demand from Automobile and Industrial Sectors
10.2.4 Thailand
10.2.4.1 Demand for Glycerine Based Antifreeze/Coolant to Decline in Thailand
10.2.5 Indonesia
10.2.5.1 Eg to Be Fastest-Growing Segment of Antifreeze Coolant in Indonesia
10.2.6 Philippines
10.2.6.1 Increasing Vehicle in Use Will Drive the Antifreeze/Coolant Market in the Philippines
10.2.7 Malaysia
10.2.7.1 Malaysia Witnessing Growth in the Manufacturing Sector
10.2.8 Vietnam
10.2.8.1 Vietnam Estimated Be the Fastest-Growing Market Antifreeze/Coolant
10.2.9 Rest of Apac
10.3 North America
10.3.1 US
10.3.1.1 Eg to Grow at a Faster Rate in the US
10.3.2 Canada
10.3.2.1 Growing End-Use Industries Expected to Boost the Demand for Antifreeze/Coolant in Canada
10.3.3 Mexico
10.3.3.1 Growth in Automotive Industry Driving the Demand for Antifreeze/Coolant
10.4 Europe
10.4.1 Germany
10.4.1.1 Automotive Sector Creating Growth Opportunities for Antifreeze/Coolant Market in Europe
10.4.2 France
10.4.2.1 Evolution in Manufacturing and Automotive Industry Increasing Consumption of Antifreeze/Coolant
10.4.3 UK
10.4.3.1 UK'S Strong Economy Fueling the Market for Antifreeze/Coolant
10.4.4 Italy
10.4.4.1 Large Machinery and Automotive Industries Driving Demand for Antifreeze/Coolant
10.4.5 Russia
10.4.5.1 Antifreeze/Coolant Market in Russia to Grow at a Moderate Rate
10.4.6 Rest of Europe
10.5 Middle East & Africa
10.5.1 South Africa
10.5.1.1 Growing Demand from Automotive and HVAC Industries Will Drive the Market
10.5.2 Turkey
10.5.2.1 Established Crude Oil Refineries Influencing the Market Positively
10.5.3 Rest of Middle East & Africa
10.6 South America
10.6.1 Brazil
10.6.1.1 Exponential Growth in the Machinery Production Drive the Market Demand
10.6.2 Argentina
10.6.2.1 Argentina Accounted for the Second-Largest Share in South America
10.6.3 Rest of South America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 Acquisition
11.2.2 Expansion
11.2.3 Partnership
11.2.4 New Product Launch
11.3 Market Ranking
11.4 Competitive Leadership Mapping
11.4.1 Star
11.4.2 Emerging Leaders
11.4.3 Pervasive
11.4.4 Emerging Companies
11.5 Strength of Product Portfolio
11.6 Business Strategy Excellence
12 Company Profiles
12.1 BP plc
12.2 Royal Dutch Shell plc
12.3 Chevron Corporation
12.4 ExxonMobil Corporation
12.5 Total S.A.
12.6 Lukoil
12.7 Petronas
12.8 Basf Se
12.9 Valvoline Inc.
12.10 Cummins Inc.
12.11 Motul S.A.
12.12 Other Players
12.12.1 Dow Inc.
12.12.2 Dupont Tate & Lyle Bio Products Company, LLC.
12.12.3 Products Offered
12.12.4 Recochem Inc.
12.12.5 Prestone Products Corporation
12.12.6 Huntsman Corporation
12.12.7 Sinopec Corporation
12.12.8 Cci Corporation
12.12.9 Evans Cooling Systems, Inc.
12.12.10 Kost Usa, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pimryd
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.