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A recent report published by Infinium Global Research on automotive antifreeze market provides in-depth analysis of segments and sub-segments in global as well as regional automotive antifreeze market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive antifreeze market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive antifreeze market. According to the report, the global automotive antifreeze market is projected to grow at a healthy CAGR over the forecast period of 2018-2024.
Antifreeze or coolant is an additive used, to manage the temperature of the engine and protect liquid cooled internal combustion engines from freezing during the winter and boil-over during the summer. Antifreeze performs two primary functions such as lowering the freezing point of coolant and raising the boiling point of the coolant. Ethylene glycol and propylene glycol are antifreeze commonly used antifreezing agents added to water. It is widely used in the automotive cooling system to prevent damage to the engine water jacket and radiator. Used antifreeze may become contaminated with organic compounds like benzene and heavy metal such as lead when removed from vehicles.
Rising automotive industry all over the globe and growing demand for high-performance commercial vehicles are the key factors to enhance the growth of automotive antifreeze market. In addition, growing concerns related to protecting the automotive engines and radiators are propelling the demand for automotive antifreeze products. Increased demand for Ethylene Glycol to further facilitate growth in this market. Ethylene Glycol is mainly used in the automotive industry owing to its desirable thermal properties, including a high boiling point, low freezing point. Going forward, research and development activities for cost-effective, environment-friendly, Bio-Based Coolants or Antifreeze are anticipated to create immense opportunities for the automotive antifreeze market over the forecast period.
The Asia Pacific region is dominated by the automotive antifreeze market followed by North America. The factor responsible for the growth of this market is the growing demand for passenger car and the lightweight vehicle in countries such as India, China, and Japan. In addition, the presence of major automobile manufacturers in the Asia Pacific region and increasing sale of automobiles in China is also creating huge growth for automotive antifreeze market. North America is anticipated to be the fastest growing region in automotive antifreeze market. The demand for light vans and trucks has grown in this region. Europe has expected the steady growth in this market owing to the growing automotive manufacturing and aerospace sector.
The report on global automotive antifreeze market covers segments such as product type, technology, vehicle type, and application. On the basis of product type, the global automotive antifreeze market is categorized into glycerin, propylene glycol, and ethylene glycol. On the basis of technology, the global automotive antifreeze market is categorized into IAT, OAT, and HOAT. On the basis of vehicle type the global automotive antifreeze market is categorized into passenger vehicles and commercial vehicles. On the basis of application, the global automotive antifreeze market is categorized into automotive, aerospace and industrial.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive antifreeze market such as Chevron Corporation, Exxon Mobil Corporation, China Petrochemical Corporation, Royal Dutch Shell PLC, Cummins Inc., BASF SE, Prestone Products Corporation and Motul.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive antifreeze market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive antifreeze market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive antifreeze market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive antifreeze market to understand the present and future trends in this market and formulate their strategies accordingly.
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