Technological innovations are the key trends gaining popularity in the antifreeze/coolant market.Major market players are concentrating their efforts on creating innovative technologies such as state-of-the-art silicate organic acid technology (Si-OAT), NAP-free hybrid organic acid technology, and phosphate-free organic acid technology (P-OAT).įor instance, in August 2021, Valvoline Inc., a US-based lubricants and automotive chemicals manufacturing company, launched new coolant technologies, Valvoline Antifreeze Coolant HT-12TM Green and Valvoline Antifreeze Coolant HT-12 Pink. Therefore, increasing vehicle production is driving the antifreeze/coolant market. 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. 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.Īntifreeze or coolant helps to regulate engine temperature, prevent freezing or overheating, and protect against rust or corrosion. They are applied using various technologies such as inorganic additive technology (IAT), organic acid technology (OAT), nitrite organic acid technology (NOAT), hybrid organic acid technology (HOAT) and other technologies for applications in industrial, automobiles and other applications. The main product types of antifreeze/coolant include propylene glycol, ethylene glycol and other products.Propylene glycol refers to a synthetic liquid that is derived from propylene oxide. The regions covered in the antifreeze/coolant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. These are used in internal combustion engines to regulate the engine temperature and prevent it from overheating or freezing.Īsia-Pacific was the largest region in the antifreeze/coolant market in 2022.North America is expected to be the fastest-growing region in the forecast period. The value of goods in this market includes related services sold by the creators of the goods.Īntifreeze or coolant is a fluid mixture of chemicals such as ethylene glycol or propylene glycol. The antifreeze/coolant market consists of sales of sorbitol, calcium chloride, and sodium chloride.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The market is expected to reach $6.60 billion in 2027 at a CAGR of 3.99%. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global antifreeze/coolant market is expected to grow from $5.39 billion in 2022 to $5.64 billion in 2023 at a compound annual growth rate (CAGR) of 4.68%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. , Arteco NV, and Carl Bechem Lubricants India Private Limited. New York, J(GLOBE NEWSWIRE) - announces the release of the report "Antifreeze/Coolant Global Market Report 2023". Major players in the antifreeze/coolant market are BP PLC, BASF SE, Cummins Inc., Exxon Mobil Corporation, PJSC Lukoil Oil Company, Motul SA, Royal Dutch Shell PLC, Total SA, Chevron Corporation, Old World Industries LLC, Prestone Products Corporation, Recochem Corporation, Amsoil Inc.
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