The Antifreeze/Coolant Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Antifreeze/Coolant Global Market Report 2024, The antifreeze/coolant market size has grown steadily in recent years. It will grow from $5.64 billion in 2023 to $5.89 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to automotive industry growth, rise in vehicle ownership, extreme weather conditions, regulatory standards for engine coolants, increase in commercial vehicle fleet, electric and hybrid vehicles integration.
The antifreeze/coolant market size is expected to see steady growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to global climate change trends, expansion of aftermarket services, stringent environmental regulations, rising consumer awareness of coolant importance, collaboration with automotive OEMs. Major trends in the forecast period include advancements in coolant technologies, technological advancements in automotive engines, rising adoption of organic acid technology (OCT) and hybrid organic acid technology (HOCT), emphasis on environmental sustainability, development of low-toxicity and biodegradable formulations.
Increasing vehicle production is expected to propel the antifreeze/coolant market going forward. Vehicle production refers to the production of passenger cars, light trucks, and utility vehicles, such as minivans, pickup trucks, and sport utility vehicles. Antifreeze or coolant helps to regulate engine temperature, prevent freezing or overheating, and protect against rust or corrosion. For instance, in May 2022, according to an article published by CEIC Data, a US-based provider of macro and micro economic data insights, in the USA, 9.2 million units of motor vehicles were produced in December 2021, a rise from 8.8 million units in December 2020. Therefore, increasing vehicle production is driving the antifreeze/coolant market.
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The antifreeze/coolant market covered in this report is segmented –
1) By Product: Propylene Glycol, Ethylene Glycol, Other Products
2) By Technology: Inorganic Additive Technology (IAT), Organic Acid Technology (OAT), Nitrite Organic Acid Technology (NOAT), Hybrid Organic Acid Technology (HOAT), Other Technologies
3) By Application: Industrial, Automobiles, Other Applications
Major companies operating in the antifreeze/coolant market are focused on introducing advanced solutions, such as engine coolants, to gain a competitive edge in the market. Engine coolant is a specialized fluid that plays a critical role in maintaining the optimal operating temperature of an engine. It serves multiple functions, including transferring heat away from the engine, preventing overheating, and protecting the engine from freezing and corrosion. For instance, in January 2023, BASF SE, a Germany-based chemicals company, launched its GLYSANTIN engine coolants into the Nigerian market. This engine coolant is ideal for a wide range of applications and industry sectors since it provides a distinctive blend of high German quality and several protection features. GLYSANTIN coolants and their various forms of protection can successfully avert damages and save downtime in high-usage applications, ultimately adding to a dependable power supply.
The antifreeze/coolant market report table of contents includes:
- Executive Summary
- Antiemetics And Antinauseants Market Characteristics
- Antiemetics And Antinauseants Market Trends And Strategies
- Antiemetics And Antinauseants Market - Macro Economic Scenario
- Global Antiemetics And Antinauseants Market Size and Growth
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- Global Antiemetics And Antinauseants Market Competitive Benchmarking
- Global Antiemetics And Antinauseants Market Competitive Dashboard
- Key Mergers And Acquisitions In Antiemetics And Antinauseants Market
- Antiemetics And Antinauseants Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Exxon Mobil Corporation
- Royal Dutch Shell PLC
- TotalEnergies
- Chevron Corporation
- BASF SE
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Antifreeze coolant helps keep engines from overheating in the summer, prevents freezing in the winter and protects your radiator which is vital to the life of your car.
Without coolant, your car can overheat and break down.
One of the best antifreeze coolants is the Turbo Guard AFAB Premix, which is a premium coolant that can provide excellent freezing and boil-over protection.
The global antifreeze/coolant market size is estimated at USD 5.4 billion in 2020 and is projected to reach USD 5.9 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 1.8%.
The global antifreeze/coolant industry will be driven primarily by the increasing number of vehicles in operation worldwide.
The growth in the HVAC systems and construction equipment industry are the other key factors contributing to the growth of the antifreeze/coolant market.♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9054255The automotive segment is projected to lead the antifreeze/coolant market from 2020 to 2025.Based on application, the automotive segment is projected to be the largest market for antifreeze/coolant.
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 growing population, improved socio-economic conditions, emerging economies, expanding e-commerce industry, improved infrastructure, increasing vehicle fleet, and others.
The growth of the automotive engine 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.Recent DevelopmentsIn December 2019, Chevron Australia Downstream Pty Ltd., a wholly-owned subsidiary of Chevron Corporation, signed a conditional Share Sale Agreement with Puma Energy Asia Pacific B.V. with the aim to acquire all the shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd. for USD 291 million (AU$425 million).In May 2019, Chevron Corporation entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at USD 33 billion.
Abstract: Antifreeze Coolant report is in-depth investigation for Global market.
Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/33534/global-antifreeze-coolant-627 Antifreeze Coolant market was valued at USD 4.52 million Global in 2016 and is forecasted to reach USD 6.62 million by 2021, with a CAGR of 8.1% during the 2017-2021.
Global market size, supply, demand, consumption, price, import, export, macroeconomic analysis, type and application segment information by region, including:Region Segment: North America: US, Canada, MexicoAPAC: China, India, Japan, South Korea, Australia, New Zealand, Southeast Asia (Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam)Europe: Germany, France, UK, Italy, Spain, Poland, Netherlands, Belgium, Czech, Russia, TurkeySouth America: Brazil, Argentina, Chile, PeruMEA: South Africa, GCC, Egypt 2.
For industry chain analysis, raw material and end users information is available.
Powerful market analysis tools used in the report include: Porter's five forces analysis, PEST analysis, drivers and restraints, opportunities and threatens.
Based year in this report is 2019; the historical data is from 2014 to 2018 and forecast year is from 2020 to 2024.
