(MENAFN- GlobeNewsWire - Nasdaq) The Global Automotive Antifreeze market Size was Valued at USD 7.20 Billion in 2023 and the Worldwide Automotive Antifreeze Market Size is Expected to Reach USD 15.36 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Castrol Limited, Halfords Group PLC, Chevron Corporation, Exxon Mobil Corporation, Motul, Recochem Corporation., Prestone Products Corporation, Valvoline Inc, Rock Oil Company LLC, Royal Dutch Shell PLC, AMSOIL INC, OLD WORLD INDUSTRIES, LLC, Total Energies, Riverstone energy Limited, Others key Vendors.
New York, United States , July 21, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Antifreeze Market Size is to Grow from USD 7.20 Billion in 2023 to USD 15.36 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.87% during the projected period.
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Antifreeze is a cooling system additive that helps control engine temperature by lowering the freezing point and raising the boiling point of the system. Azole residues, inorganic salts, organic acid, or a combination of the three can be its source. It keeps thick enclosures from expanding during the freezing process. Methanol was previously a popular antifreeze and element in windshield fluids, as well as a major component of engine coolant. Due to the need for more frequent replacements and the destruction of the metals in the cooling and engine systems, especially aluminum, its use gradually declined. Instead of methanol-based antifreeze, ethylene glycol-based antifreeze is utilized it is less volatile and needs fewer replacements. In the car industry, manufacturers are focusing on creating engines that are more fuel-efficient and produce less emissions. The rise of the automotive sector is reflected in the growing demand for automotive antifreeze. The demand for antifreeze has surged due to a huge growth in global auto manufacturing and sales. These products, like those that came before them, are essential for shielding cars from extreme temperatures. However, glycol is one of the basic chemicals that is required to manufacture antifreeze, and its price is not always constant. These price fluctuations can be influenced by changes in supply and demand, variations in energy prices, and events in geopolitics.
Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the " Global Automotive Antifreeze Market Size, Share, and COVID-19 Impact Analysis By Fluid Type (Ethylene Glycol, Propylene Glycol, Glycerin), By Technology (Inorganic Additive Technology (IAT), Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT)), By Application (Passenger Vehicle, Commercial Vehicle, Construction Vehicle), By Distribution Channel (Original Equipment Manufacturers (OEMs), Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ethylene glycol segment is anticipated to hold the greatest share of the global automotive antifreeze market during the projected timeframe.
On the basis of fluid type, the global automotive antifreeze market is divided into ethylene glycol, propylene glycol, and glycerin. Among these, the ethylene glycol segment is anticipated to hold the greatest share of the global automotive antifreeze market during the projected timeframe. The most widely used antifreeze is ethylene glycol. Coolants with the same base fluids, such as a 50/50 mixture of ethylene glycol and water, are used in most engines.
The organic acid technology (OAT) segment is anticipated to hold the largest share of the global automotive antifreeze market during the projected timeframe.
On the basis of technology, the global automotive antifreeze market is divided into inorganic additive technology (IAT), organic acid technology (OAT), and hybrid organic acid technology (HOAT). Among these, the organic acid technology (OAT) segment is anticipated to hold the largest share of the global automotive antifreeze market during the projected timeframe. Antifreeze based on organic acid technology (OAT) has a longer shelf life because it doesn't contain silicates. OAT-based coolants do not protect copper and brass components utilized in older cooling systems.
The commercial vehicle segment is predicted to hold the greatest share of the global automotive antifreeze market during the estimated period.
On the basis of application, the global automotive antifreeze market is divided into passenger vehicles, commercial vehicles, and construction vehicles. Among these, the commercial vehicle segment is predicted to hold the greatest share of the global automotive antifreeze market during the estimated period. Buses, light trucks, and heavy-duty trucks are varieties of commercial vehicles. Cooling agents are essential in commercial vehicles such as trucks and buses to regulate heat generation and preserve optimal engine operating conditions.
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Asia Pacific is expected to hold the largest share of the global automotive antifreeze market over the forecast period .
Asia Pacific is expected to hold the largest share of the global automotive antifreeze market over the forecast period. It is expected that the region's growing need for cars will be increased by the growing populations of countries like China and India. Some of the best manufacturers in the world are found in the Asia-Pacific region. China, Japan, India, and South Korea are just a few of the countries where the automobile industry is a key business due to its enormous sales in regions with high production levels.
Europe is predicted to grow at the fastest pace in the global automotive antifreeze market during the projected timeframe. Europe is one of the world's leading automotive manufacturers, and the industry is primarily responsible for significant private investment in R&D to develop innovative products and services for the car industry.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global automotive antifreeze market include Castrol Limited, Halfords Group PLC, Chevron Corporation, Exxon Mobil Corporation, Motul, Recochem Corporation., Prestone Products Corporation, Valvoline Inc, Rock Oil Company LLC, Royal Dutch Shell PLC, AMSOIL INC, OLD WORLD INDUSTRIES, LLC, Total Energies, Riverstone Energy Limited, and Others Key players.
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Recent Developments
In June 2024, Castrol India launched the EDGE range of products, designed to work with several automobile models, including hybrids, European cars, and SUVs. Castrol workshops and retail outlets across India will shortly start selling these high-performance lubricating fluids.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive antifreeze market based on the below-mentioned segments:
Global Automotive Antifreeze Market, By Fluid Type
Ethylene Glycol Propylene Glycol Glycerin
Global Automotive Antifreeze Market, By Technology
Inorganic Additive Technology (IAT) Organic Acid Technology (OAT) Hybrid Organic Acid Technology (HOAT)
Global Automotive Antifreeze Market, By Application
Passenger vehicle Commercial vehicle Construction vehicle
Global Automotive Antifreeze Market, By Distribution Channels
Original equipment manufacturers (OEMs) Aftermarket
Global Automotive Antifreeze Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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