The antifreeze proteins market (AFPs) is estimated at USD 4 million in 2020; it is projected to grow at a CAGR of 36.3% to reach USD 27 million by 2026. Antifreeze proteins inhibit ice growth and prevent recrystallization, hence averting tissue damage. Presently, antifreeze proteins have shown a lot of potential in commercial applications.
Driver: Increase in Awareness of benefits associated with antifreeze proteins
Antifreeze proteins control ice crystal growth brought on by thawing, which drastically reduces texture quality. Using the methods and the protocols of trans-genesis, antifreeze proteins can be introduced into fish, yeast, vegetables, and fruits in order to give new beneficial properties to these organisms. These applications have certificated advantages that result in the production and the high quality of food. Thus, their demand is growing in the market.
Restraint: High cost of production and R&D expenditure
R&D expenses are one of the largest direct costs incurred by companies while manufacturing any product. This includes the cost for research, labor, power & utilities, and consumables. Extraction of an antifreeze protein from fish is a complex process and involves huge R&D investments. The antifreeze protein operates using a process known as thermal hysteresis, identified in Antarctic fish—lowering the freezing point of water in the hemolymph.
The cost of machines and technology used in the extraction of antifreeze proteins is significantly high, and hence a majority of the key players are carrying out these operations in collaborations with prestigious universities and research organizations that have access to such kinds of tools. Thus, bulk extraction costs spike when it comes to industrial bulk productions.
Opportunity: Emerging markets in developing regions
The rise in living standards and changes in lifestyles in developing countries contribute to the rise in demand for convenience foods, cosmetics, and vaccinations, which indirectly impact the market. Emerging markets such as Brazil, Russia, India, and China are expected to offer significant opportunities for the growth of the market.
Challenge: Limited use in food applications
There are a limited number of commercial applications for antifreeze proteins in the food industry, which limits the scope of the antifreeze proteins market. They are, however, used in the cosmetics, healthcare, and frozen foods industry. Most companies are still in the R&D phase for exploring new applications for antifreeze proteins in the food sector.
The antifreeze proteins market is dominated by few globally established players such as Nichirei Corporation. (Japan), Kaneka Corporation (Japan), A/F Protein Inc. (US), Sirona Biochem (Canada), Unilever (Netherlands), and ProtoKinetix, Inc. (US). These players have adopted growth strategies such as expansions and aquisitions to increase their presence in the global market.
According to the market research report Antifreeze Market by Vehicle Type, Product (Ethylene Glycol, Propylene Glycol & Glycerin), Engine Coolant Additive Technology OE & Aftermarket (IAT, OAT, & HOAT), & Region and Construction Equipment Engine Coolant Market by Application — Forecast to 2021.
The base year considered for the study is 2015, and the forecast period is 2016 to 2021.
Increasing vehicle production in North America and Europe, particularly of sports utility vehicles (SUV) and light trucks.Download our free PDF Brochure and gain crucial industry insights that will help your business grow:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=241952403Objectives of the Study:To analyze and forecast (2016–2021) the market size, by volume (million gallons) and value (USD million), of the antifreeze marketTo analyze and forecast (2016–2021) the market size of antifreeze market, by base fluid (ethylene glycol, propylene glycol, and glycerol)To define, describe, and project the engine coolant additive original equipment market by technology (Inorganic Additive Technology (IAT), Organic Additive Technology (OAT), and Hybrid Organic Acid Technology (HOAT)), in terms of volume and value at regional levelTo define, describe, and project the engine coolant additive aftermarket by technology (IAT, OAT, and HOAT) during the forecast period of 2016–2021Request for free Customization:https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=241952403The automotive antifreeze market is estimated using the bottom-up approach, where country-level models of passenger cars, light, and heavy commercial vehicle production has been studied to understand average engine size of each vehicle segment and use of coolant in the segment.
A similar approach has been followed for construction equipment, where models were mapped to understand the engine size in each equipment segment.Browse and in-depth TOC on Antifreeze Market93 — Tables64 — Figures177 — PagesThe market for antifreeze, by value, is projected to grow at the fastest rate in the light commercial vehicle (LCV) segment.
While passenger cars dominated the antifreeze market in 2016, light commercial vehicles are expected to dominate the market by 2021.
This is due to the increase in production of this segment of vehicles, especially in the U.S., and the higher quantity of coolant required for these vehicles as compared to passenger cars.Request for sample:https://www.marketsandmarkets.com/requestsampleNew.asp?id=241952403Antifreeze Market Key PlayersSome of the key manufacturers operating in the market are B.P.
