Synopsis of the Global Antifreeze Coolant Market
Antifreeze coolants are used typically in automobiles, HVAC systems, and heat exchangers to enable heat transfer process in cold weather conditions. The market for Antifreeze Coolant is driven by the increasing automobile industry. The market is highly application based and is dominated by demand from the end-use industries. Apart from Automotive, these are used extensively in aerospace, electronics, construction industries, among others. Mostly it is used for the development of anti-icing and de-icing materials in aerospace.
Propylene glycol accounts for the largest share in the antifreeze coolant market by type in 2015. This is highly preferred over the other types due to its properties such as less and environment friendly. The propylene glycol is used across applications such as industrial and automotive. The trend is expected to be similar by 2022. The market is expected to grow rapidly during the forecasted period.
Furthermore, automotive application is leading the market due to high demand for antifreeze coolant from the automobile industry. The properties such as preventing overheating of the vehicle in summer, ensuring workability and performance of engines & heat exchangers, augments the demand for antifreeze coolants across automotive industry. It is followed by the industrial and aerospace applications. The global antifreeze coolant market is expected to cross USD 7 Billion by 2022. The market is expected to grow at a CAGR of approximately 8% in the forecasted period.
Global Antifreeze Coolant Market Information segmented as:
- By Type (Ethylene Glycol, Propylene Glycol, Methanol, and others)
- By Application (Industrial, Automotive, Aerospace, Electronics, and others)
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The key players of global Antifreeze Coolant market report include-
- DOW Chemical Company,
- BP plc,
- Chevron Corporation,
- BASF SE,
- Kost USA Inc.,
- Total S.A.,
- Exxon Mobil Corporation,
- LUKOIL Oil Company,
- Motul S.A.,
- Petroliam Nasional Berhad (Petronas),
- Royal Dutch Shell plc, Cummins Inc.
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Study Objectives of Global Antifreeze Coolant Market
- To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the global Antifreeze Coolant market
- To provide insights about factors affecting the market growth
- To analyze the global Antifreeze Coolant market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- Raw Materials Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
Regional Analysis of Global Antifreeze Coolant Market
Europe is the largest market for antifreeze coolant, followed by APAC and North America. The share of Europe is attributed to its demographic terrain, where most countries witness snowfall which restricts the normal transportation in the region. This is the main reason for anti-freezing coolants finding a prominent place in Europe. The region is expected to show similar trend by the end of forecasted period.
APAC is seen as the next lucrative market for antifreeze coolants and is expected to grow rapidly in coming years. Increasing demand for vehicles in emerging economies of the region such as China and India will drive the anti-freeze market upwards.
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