According to the study, “World Antifreeze Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world antifreeze market are Prestone Products Corp., BO Plc. (Castrol), Shell, BASF SE, CCI Corp., Old World Industries Inc., Valvoline Inc., Exxon Mobil Corp., KMCO, SONAX GmbH, Chevron Corp., Kost USA Inc., Royal Dutch Shell Plc., JXTG Holdings Inc., Getz Nordic, MITAN, Recochem, Paras Lubricants, Amsoil, Solar Applied Materials, Reochem Inc., Total SA, Gulf Oil International, Millers Oils, Pentosin, Voltronic GmbH, American Mfg Co. (Rudson), ABRO, Silverhook, Evans, Lanzhou BlueStar, Sinopec, Zhongkun Petrochemical, CNPC, Guangdong Delian, China-TEEC.
Based on product type, the antifreeze market is segmented into ethylene glycol-based antifreeze, glycerin-based antifreeze and propylene glycol-based antifreeze. Propylene glycol-based antifreeze segment is projected to witness lucrative growth owing to its less-toxic nature compared to the ethylene glycol-based antifreeze segment during the forecast period. Based on additives, the market is segmented into nitrites, silicates & phosphates, defoamers, organic acids, and borates. Based on technology, the market is segmented into Inorganic Acid Technology Antifreeze (IAT), Organic Acid Technology Antifreeze (OAT) and Hybrid Organic Acid Technology (HOAT). Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. Based on distribution, the market is segmented into OEM and automotive aftermarket. In addition, based on end-use, the market is segmented into aerospace, automobile, and industrial heat transfer & cooling system.
The antifreeze market is driven by growth in the use of high-quality technologically advance additives, followed by the rise in demand for high-performance vehicles, high disposable incomes of consumers, change in life trends, increase in use of vehicles, growth in population increase in research & development (R&D) investments in product development, unpredictable weather patterns, and surge in the automotive industry. However, growing demand for battery-operated electric vehicles, fluctuating raw material price and recycling of engine coolant & antifreeze may impact the market. Moreover, the rise in demand for environment-friendly & bio-based coolants or antifreeze is a key opportunity for market.
Based on geography, China, Japan and India countries hold major share in the antifreeze market owing to the rise in the number of passenger & commercial vehicles in the countries. USA country is the second leading region due to the presence of a large number of manufacturers, high consumption of ethylene glycol & propylene glycol in de-icing materials in the aerospace sector, and growth in registration of new vehicles in the country. Europe is expected to witness higher growth rate on account of a rise in sales of new & used vehicles over the forecast period. It is anticipated that the market will be reached at UD $7.5 billion, by 2024.
Global Antifreeze Market: Product Segment Analysis
Freezing Point (101.3 kPa)
Boiling Point (101.3 kPa)
Global Antifreeze Market: Application Segment Analysis
Global Antifreeze Market: Regional Segment Analysis
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