Report Code : A02225
By fluid type, the ethylene glycol dominated the global automotive antifreeze market in 2019, in terms of revenue, and is expected to lead the market throughout the forecast period. By technology, the organic acid technology (OAT) segment incurs the higher share. At present, Asia-Pacific is the highest revenue contributor, and is expected to continue this trend in the market during the forecast period, followed by Europe.
Abhay Singh
Lead Analyst, Automotive and Transportation at Allied Market Research
According to a recent report published by Allied Market Research, titled, “Automotive Antifreeze Market by Fluid Type, Technology, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the global automotive antifreeze market was valued at $4.92 billion in 2019, and is projected to reach $6.01 billion by 2027, registering a CAGR of 7.9%.
Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America and LAMEA. China dominated the global automotive antifreeze market share in 2019, whereas Japan is expected to grow at a significant rate during the forecast period, due to increase in demand for vehicles with antifreeze liquids.
Antifreeze is a form of liquid that lowers the freezing point of the water based liquid in a vehicle. Automotive antifreeze are used to achieve the freezing point depression for cold environments by increasing the boiling point of liquids thereby allowing higher coolant temperature. Since water has properties of coolant, therefore water mixed with antifreeze are used in internal combustion (IC) engines. This is done to prevent the vehicle engine from bursting due to extreme temperature drop.
Antifreeze for a vehicle are selected carefully to enable a wide temperature range in which the mixture remains in the liquid phase, which is critical to efficient heat transfer and the proper functioning of heat exchangers. By selecting a proper antifreeze for a vehicle, proper functioning of internal combustion engines is ensured when the temperature changes from hot to cold, thereby preventing the engine to block.
Based on the fluid type, the automotive antifreeze market is categorized into ethylene glycol, propylene glycol and glycerin. Among the above liquids, ethylene glycol is widely used liquid used in a vehicle and hence holds a major market share as compared to other liquids. By technology, the market is segmented into Inorganic Acid Technology (IAT), Organic Acid Technology (OAT) and Hybrid Organic Acid Technology (HOAT), among which Organic Acid Technology (OAT) holds a majority of the market share and is expected to lead the market during the forecast period.
By application, the market is categorized into passenger vehicle, commercial vehicle and construction vehicle. The commercial vehicle segment accounted for the highest revenue in 2019, owing to their increased application in heavy duty applications. Based on the distribution channel, the market is segmented into OEMs and aftermarket where the aftermarket distribution channel leads the market due to continuous replacement of antifreeze in vehicles on a regular time interval.
Factors such as rise in demand for high-performance vehicles and increased use of high-quality technologically advanced additive supplements the growth of the global automotive antifreeze market. However, fluctuating raw material (crude oil) price and growing demand of battery operated electric vehicles hampers the growth of the global automotive antifreeze market. Moreover, availability of environment friendly, bio based coolants & antifreeze supplements the growth of automotive antifreeze market in the near futures.
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Key Findings Of The Study
The key players analyzed in this automotive antifreeze market report are Castrol, Chevron Corporation, Exxon Mobil Corporation, Halfords Group PLC., Motul, Prestone Products Corporation, Rock Oil Company LLC., Royal Dutch Shell PLC, TOTAL SA and Valvoline Inc.
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Automotive Antifreeze Market by Fluid Type ( Ethylene Glycol, Propylene Glycol and Glycerin), Technology (Inorganic Additive Technology (IAT), Organic Acid Technology (OAT) and Hybrid Organic Acid Technology (HOAT)), Application (Passenger vehicle, Commercial vehicle and Construction vehicle), and Distribution Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027
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