Antifreeze/Coolant Global Market Report 2024

Antifreeze or coolant is a fluid mixture containing chemicals such as ethylene glycol or propylene glycol. It is employed in internal combustion engines to manage and regulate the engine temperature, serving the dual purpose of preventing overheating in high-temperature conditions and safeguarding against freezing in colder environments.

The primary product types of antifreeze/coolant encompass propylene glycol, ethylene glycol, and other related products. Propylene glycol is a synthetic liquid derived from propylene oxide. These antifreeze/coolant products are utilized with diverse technologies, including inorganic additive technology (IAT), organic acid technology (OAT), nitrite organic acid technology (NOAT), hybrid organic acid technology (HOAT), and other relevant technologies. These technologies find applications in various industries, including automotive and industrial sectors, providing effective solutions for temperature regulation and protection against freezing.

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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%. Historical growth can be attributed to the expansion of the automotive industry, increased vehicle ownership, extreme weather conditions necessitating specific engine coolants, adherence to regulatory standards for coolants, growth in commercial vehicle fleets, and the integration of electric and hybrid vehicles.

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%. Forecasted growth is due to climate change concerns, aftermarket service expansion, strict environmental regulations, rising consumer awareness about coolant importance, and collaborations with automotive OEMs. Key trends include coolant technology advancements, automotive engine tech progress, OAT and HOAT adoption, focus on environmental sustainability, and development of low-toxicity, biodegradable formulations.

The anticipated surge in vehicle production is poised to propel the antifreeze/coolant market. Vehicle production encompasses the manufacture of passenger cars, light trucks, and utility vehicles such as minivans, pickup trucks, and SUVs. Antifreeze or coolant plays a crucial role in maintaining engine temperature, preventing freezing or overheating, and safeguarding against rust or corrosion. As per a May 2022 report from CEIC Data, a US-based provider of economic data insights, the USA witnessed the production of 9.2 million motor vehicle units in December 2021, marking an increase from 8.8 million units in December 2020. This upswing in vehicle production remains a driving force behind the expansion of the antifreeze/coolant market.

The anticipated expansion of the manufacturing sector is poised to drive the growth of the antifreeze/coolant market in the foreseeable future. Manufacturing, the process of converting raw materials into finished goods utilizing labor, machinery, and various processing methods, is significantly reliant on antifreeze/coolant. This vital substance finds widespread use across industrial applications such as HVAC systems, construction machinery, and electronics. Its primary function lies in regulating fluid and engine temperatures across diverse environmental conditions. For instance, Eurostat, a Luxembourg-based governmental statistical agency, reported a 0.2% increase in industrial output in the European area in July 2023, with a concurrent 0.1% increase within the European Union between May and April 2023. These indicators underscore how the burgeoning manufacturing sector serves as a catalyst for the expansion of the antifreeze/coolant market.

Cutting-edge technological advancements represent the predominant trends gaining traction within the antifreeze/coolant market. Key industry players are dedicatedly focusing on pioneering 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). An exemplar in this pursuit is Valvoline Inc., a US-based manufacturer of lubricants and automotive chemicals, which in August 2021 introduced innovative coolant technologies, Valvoline Antifreeze Coolant HT-12 Green and Valvoline Antifreeze Coolant HT-12 Pink. These high-performance coolants, integrating mono-ethylene glycol Si-OAT technology and advanced performance additives, deliver superior heat dissipation capabilities. Specifically engineered to meet the exacting demands of contemporary high-powered, compact engines, they assure dependable protection against corrosion, overheating, and frost damage, safeguarding critical engine components such as the cooling channels, radiator, and water pump.

Prominent companies in the antifreeze/coolant market are strategically focused on introducing cutting-edge solutions, particularly engine coolants, to establish a competitive advantage. Engine coolant, a specialized fluid crucial for maintaining an engine's optimal operating temperature, serves a myriad of functions such as heat dissipation, overheating prevention, and safeguarding against freezing and corrosion. Illustrating this trend, in January 2023, BASF SE, a Germany-based chemicals company, unveiled its GLYSANTIN engine coolants in the Nigerian market. Renowned for their high German quality and diverse protective attributes, GLYSANTIN coolants offer an ideal solution across a spectrum of applications and industry sectors. Their multifaceted protection capabilities effectively mitigate damages and reduce downtime in high-demand scenarios, thereby contributing significantly to ensuring a reliable power supply.

In October 2023, Arteco NV, a Belgium-based developer and manufacturer specializing in antifreeze coolants, forged a partnership with Arom-dekor Kemi aimed at leveraging financial and environmental benefits by repurposing and refining used de-icing fluids for use as a base fluid in coolant production. This collaboration primarily centers on monopropylene glycol (MPG). By amalgamating Vilokan's cutting-edge recycling technology with Arteco's coolant proficiency, the alliance aims to offer consumers a low-toxic, more sustainable alternative by integrating recycled drop-in components in lieu of virgin resources. Arom-Dekor Kemi, a Sweden-based producer of antioxidant, antistatic, and antifreeze products for motor car radiators, plays a pivotal role in this endeavor.

Major companies operating in the antifreeze/coolant market report are Exxon Mobil Corporation, Royal Dutch Shell PLC, TotalEnergies, Chevron Corporation, BASF SE, Honeywell International Inc., Cummins Inc., Solar Thermo Fluids, Public Joint Stock Company, Fuchs Petrolub SE, Valvoline LLC, Camco Manufacturing Inc., Amsoil Inc., British Petroleum PLC, MOTUL, Carl Bechem Lubricants India Pvt. Ltd., Comma Oil & Chemicals Ltd., Prestone Products Corporation, Recochem Corporation, Old World Industries LLC, Pentosin-Werke GmbH, Arteco NV, Bar's Products Inc., International Lubricants Inc., Liquid Intelligence Pty Ltd., Silverhook Ltd., Environmental Manufacturing Solutions LLC., Evans Cooling Systems Inc., Peak Antifreeze & Coolant LLC

Asia-Pacific was the largest region in the antifreeze/coolant market in 2023. North America is expected to be the fastest-growing region in the global antifreeze/coolant market report during the forecast period. The regions covered in the antifreeze/coolant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the antifreeze/coolant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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 value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Antifreeze/Coolant Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on antifreeze/coolant market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for antifreeze/coolant ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The antifreeze/coolant market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Exxon Mobil Corporation; Royal Dutch Shell PLC; TotalEnergies; Chevron Corporation; BASF SE
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.