USD 6.44 Billion
Automotive Antifreeze Market Size, Share, Growth Analysis, By Product(Ethylene Glycol and Propylene Glycol-based Antifreeze), By Vehicle(Passenger cars, Commercial vehicles) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2375 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Automotive Antifreeze Market Insights
Global Automotive Antifreeze Market size was valued at USD 6.44 Billion in 2022 and is poised to grow from USD 7.16 Billion in 2023 to USD 16.62 Billion by 2031, at a CAGR of 11.1% during the forecast period (2024-2031).
The global market for automotive antifreeze products has experienced a period of consistent growth recently. This stabilized growth is a result of several factors. The demand for these products has been on the rise as consumers grow more aware of temperature control in their vehicles. The rising awareness of the significance of engine maintenance has also boosted market demand.
However the key drivers for market growth are different. The market for afterservices for automotives has seen a rising demand, which is reflected in the need for antifreeze products. Also the rising rate of automobile production and the expansion of the industry has also fueled this market’s expansion.
The rising environmental concerns have also influenced the antifreeze market. Advancements in technology have made it possible for market producers to create effective and eco-conscious antifreeze solutions. Passenger cars currently contribute to the largest part of market demand. However LCVs are also gaining momentum and are surging the demand for antifreeze products.
Ethylene glycol-based antifreeze is the most popular product type on the market, owing its popularity to its affordable heat-resistant solutions. Although, the propylene glycol-based antifreeze product category is gaining ground quickly, thanks to its environmentally friendly nature and higher suitability with EVs and hybrid vehicles.
EVs are gaining momentum in the automotive industry. They also require effective cooling, thus feeding the demand for the market. Despite the new paths for expansion opening up, market growth can be stunted by a few challenges. These include rising competition from up-and-coming engine cooling technologies and solutions and the unstable prices of raw materials. Still, the automotive antifreeze global market is predicted to continue on its trajectory as its importance is realized among the automotive industry’s producers and clients.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger cars
Fastest Growth
Commercial vehicles
Growth Rate
11.1% CAGR
Global Automotive Antifreeze Market ($ Bn)
Country Share for North America Region (%)
Global Automotive Antifreeze Market Size By Vehicle ($ Bn)
Global Automotive Antifreeze Market Size By TVehicle (%)
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Automotive Antifreeze Market Segmental Analysis
Ethylene glycol and propylene glycol-based antifreeze make up the market’s product types. The thriving regions in the market are North America, Europe, and Asia-Pacific, among others. The market’s division on the basis of vehicle types gives us categories like commercial vehicles, passenger cars, and off-road vehicles.
Analysis By Product
The largest share in the market is owned by ethylene glycol-based antifreeze. These products are extensively used in gasoline and diesel engines. Their range of benefits have helped them retain their top position in the market. The advantages they offer are affordability and protection from corrosion. It is also popularly used due to its exceptional heat transfer capabilities.
Though the past segment dominates the market, propylene glycol-based antifreeze is quickly gaining ground. They are safer for the environment due to their low toxicity. Thus they are being widely adopted by eco-conscious consumers. The rising popularity of this segment can also be credited to the widespread adoption of hybrid and electric vehicles, to which these antifreeze solutions are well suited.
Analysis By Vehicle
The top market position in the vehicle category is held by passenger cars. This segment makes use of antifreeze products quite commonly. This is because individuals want to protect their engines from freezing or passing the threshold of high temperatures that they can bear. This segment has also held the largest share in the market as their adoption increases, particularly in emerging economies.
LCVs (Light Commercial Vehicles) are becoming more popular as the transport industry grows and the commercial sector thrives. These vehicles also depend on the market product for engine protection and maintenance. The growing demand and adoption of LCVs has driven market growth speedily.
Another segment which is making significant contributions to the market is Heavy Commercial Vehicles (HCVs). This vehicle category includes buses and trucks, among other heavy vehicles used commercially. Their larger engines require much more antifreeze than other vehicles. Logistics expansion and the growth of the construction industry has fueled the demand for HCVs. This, in turn, has made it a significant market contributor, with room for more growth.
Global Automotive Antifreeze Market By Vehicle, 2023 (%)
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Automotive Antifreeze Market Regional Insights
North America holds a significant share due to its mature automotive industry, where antifreeze is essential for cold-weather protection. The United States is a major consumer. Europe is another substantial market, driven by the presence of numerous leading automakers and a focus on environmental sustainability. Asia-Pacific is the fastest-growing region, primarily due to the booming automotive industry in countries like China and India. Rapid urbanization and increasing disposable income have led to a surge in vehicle ownership, boosting the demand for antifreeze. Latin America and the Middle East & Africa also contribute to the market, albeit to a lesser extent, as they have smaller automotive industries compared to the other regions.
In summary, Asia-Pacific stands out as the fastest-growing region, driven by a burgeoning automotive market, while North America remains the largest market due to its established automotive industry and cold climate requirements.
Global Automotive Antifreeze Market By Region, 2024-2031
- Largest
- Fastest
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Automotive Antifreeze Market Dynamics
Drivers
- Stringent Environmental Regulations: The automotive industry has seen a recent change in their production. The producers in this sector are being driven to create more efficient engines that reduce emissions and increase fuel efficiency. This aligns with stricter environmental regulations put in place in the sector. These requirements can be fulfilled with the use of antifreeze which will maintain optimal temperatures. This will help the engine use less fuel and reduce environmental impact. Global governments are establishing more rigid environmental requirements on the automotive industry. This is driving them to develop advanced antifreeze solutions which meet these standards.
- Increasing Vehicle Sales: The automotive industry’s growth is reflected in the rising expansion of the automotive antifreeze market. The world has seen a surge in the production and sales of more automobiles. These vehicles will fuel the demand for antifreeze. This is because they, like others before them, need these products to stay safe against rough temperatures. Regions like Asia and Latin America consist of a lot of emerging economies. The increasing middle class population and higher incomes here has also raised vehicle sales. This directly impacts the antifreeze market positively.
Restraints
- Market Saturation in Mature Markets: Regions like North America and Western Europe have developed automotive markets. Here, the antifreeze market reaches a point of relative saturation. These markets are already using antifreeze. Unless there are no additional vehicles on the road the market’s demand in these regions can stagnate. This can drive competition in the regional markets, leading to price pressures and reduced profitability.
- Fluctuating Raw Material Prices: The raw materials used to make antifreeze, like glycol, can be quite expensive. These high prices can also be unstable, which can pose a problem for the market. The fluctuation in prices can be influenced by a number of factors. One of these is the quick rise and fall in supply and demand, Others include energy price instability and geopolitical factors. With fluctuations in raw material prices, the volatility of market price and profit margins can be affected, hampering market growth.
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Automotive Antifreeze Market Competitive Landscape
The key players of the global automotive antifreeze market are engaged in constant rivalry. This competitive environment defines the market. Some of the industry leaders include Valvoline, Prestone, and Shell. These companies remain at the top of the market. To maintain their dominance they use their global networks and wide product range. They also target rigorous R&D to continuously innovate and put out advanced antifreeze solutions on the market. The market demand has diverted to long-lasting and sustainable solutions. Participants strive to meet this evolving consumer tastes in the midst of environmental regulations tightening the noose.
Aside from the established companies, the competitive landscape is also filled with niche and regional producers. They fuel competition by providing specialized antifreeze products that serve the particular market segments. To keep their edge in the market and retain their share, companies often collaborate with each other. The use of marketing campaigns and branding has also grown. This results from the rising need to make consumers aware of the benefits of these products to increase demand. The market will keep growing and become even more competitive going forward. This is because of the constant expansion of the global automotive industry. The growing awareness about the significance of engine maintenance also has a part to play in this. The market is predicted to keep growing with innovation and sustainably taking the wheel.
Top Player’s Company Profiles
- BASF SE (Germany)
- ExxonMobil Corporation (USA)
- Royal Dutch Shell plc (Netherlands/UK)
- TotalEnergies SE (France)
- Chevron Corporation (USA)
- Valvoline Inc. (USA)
- Prestone Products Corporation (USA)
- CNPC Kunlun (China)
- Caltex Australia Limited (Australia)
- Havoline (USA)
- Valvoline Cummins Private Limited (India)
- Castrol Limited (UK)
- Recochem Inc. (Canada)
- KOST USA, Inc. (USA)
- Petro-Canada Lubricants Inc. (Canada)
- Gulf Oil International (UK)
- Motul S.A. (France)
- Kuraray Co., Ltd. (Japan)
- Fuchs Petrolub SE (Germany)
- Old World Industries, LLC (USA)
Recent Developments
- Castrol is a worldwide leader in high performance lubricants for the automotive, industrial, marine and aerospace industries. This global brand bought the antifreeze business of Permatex in March 2023. The amount paid for the acquisition remains a mystery.
- BASF is the largest chemical producer in the world. The chemical company bought the antifreeze business of Clariant in January 2023. The amount paid by the former company is unknown. Clariant is one of the world's leading specialty chemical companies.
- KGK Chemicals is a polymer material creation company. Its antifreeze business was bought by Afton Chemical in April 2023. The amount of the purchase is unknown. Afton Chemical is a company that develops and manufactures petroleum additives, including driveline, engine oil, fuel and industrial additives.
- Valvoline is an American retail automotive services company. The company bought the antifreeze business of Zerex in June 2023. The buyout amount is unknown. Zerex is a company that produces and sells antifreeze and coolant products for automotive, heavy-duty, and the industrial market.
- Wynn's is a world leader in total car care products and one of the pioneers in the automotive chemicals industry. Its antifreeze business was bought by TotalEnergies in May 2023. The amount for the buyout is not disclosed. TotalEnergies is a multi-energy company that produces and markets energies on a global scale.
Automotive Antifreeze Key Market Trends
- Shift Towards Environmentally Friendly Antifreeze Solutions: The market for automotive antifreeze solutions was seeing a drastic change. Global concerns about the environment has resulted in the need for sustainable antifreeze solutions. The market has been witnessing a change in consumer preferences and much more rigid environmental requirements have been placed on the market. To adapt with this change, producers targeted the development of new antifreeze formulations. These solutions will ensure safe disposal and have a far less negative effect on the environment. The market is already witnessing the development and introduction of biodegradable antifreeze options which are less toxic.
- Increasing Demand for Extended-Life Antifreeze: The demand for long-life antifreeze products has hit the market. This requirement is only rising with time, changing the market. These solutions can offer extended periods of protection when compared to older models. This diminishes the number of times one has to replace the coolant. The popularity of these products has resulted from a culmination of two factors. Consumers feel the need to reduce costs surrounding upkeep and also want to reduce their impact on the environment. These products eliminate the need for removing used antifreeze for a long time, achieving the fulfillment of these desires. To improve the performance and boost longevity of their vehicles, automobile producers and buyers favored these products.
- Growth of the Electric Vehicle (EV) Segment: The automotive antifreeze market is heavily influenced by another trend. That is the growing adoption of EVs. ICE (internal combustion engine) were still popular. However, the rising demand for EVs opened up the market for new paths of growth. Even if it did come with its fair share of problems. Electric vehicles have different cooling requirements than ICE vehicles, which could lead to changes in the type and quantity of antifreeze used. As the EV market continued to expand, antifreeze manufacturers were adapting their products to meet the specific needs of electric vehicles.
Automotive Antifreeze Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global automotive antifreeze market is poised for promising future prospects. With increasing vehicle production and the necessity of efficient engine cooling systems, demand for antifreeze is expected to grow. Advancements in automotive technology, including electric vehicles, will drive innovation in antifreeze formulations to meet evolving requirements. Additionally, environmental concerns and regulations will push manufacturers to develop eco-friendly and long-lasting antifreeze solutions. As a result, the market is likely to witness steady growth, offering opportunities for sustainable and technologically advanced antifreeze products, creating a brighter and more environmentally conscious future for the automotive industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.44 Billion |
| Market size value in 2031 | USD 16.62 Billion |
| Growth Rate | 11.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Antifreeze Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Antifreeze Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Antifreeze Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Antifreeze Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Antifreeze Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Antifreeze Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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