PUNE, India, October 25, 2016 /PRNewswire/ --
The global antifreeze/coolant market is to reach USD 6.62 billion by 2021, at an estimated CAGR of 7.91% driven by the growth in demand in industries such as automobiles, electronics, and aerospace &defense, in both developed and developing countries while propylene glycol is projected to grow at the highest CAGR during the forecast period.
Complete report on antifreeze/coolant market spread across 140 pages, profiling 10 companies and supported with 97 tables and 44 figures is now available at http://www.reportsnreports.com/reports/726261-antifreeze-coolant-market-by-product-type-ethylene-glycol-and-propylene-glycol-application-automobiles-and-industrial-and-region-global-forecast-to-2021.html .
Antifreeze/coolant has growth potential with the rise in demand for the automobile and aerospace segments. This rise in demand for automotive (passenger cars and commercial vehicles, especially LCV) in the emerging markets is driving the growth of the market. Also, adverse cold climatic conditions and automotive demand from relatively colder regions across the world maintain stable volumes of demand for antifreeze/coolant across the world. Engine downsizing one of the common trends has been observed in the automotive industry, which includes decrease in the size of an engine with the same output. Downsizing of engines would eventually affect the demand for engine coolants, thereby influencing the market demand for this product.
The propylene glycol segment is projected to be the fastest-growing product type in antifreeze/coolant market in the next five years. Propylene glycol is less toxic than ethylene glycol and has perceived environmental benefits. Propylene glycols are used in North America and Europe in niche applications. Applications such as industrial and automotive, which require less toxic coolant products, have propelled the use of propylene glycol, globally. Propylene glycol is formulated with unique poly- organic acids to form a protective layer that prevents corrosion on metal components.
The North American region is projected to be the fastest-growing market during the forecast period, followed by the Rest of the World (RoW), from 2016 to 2021. In North America, the U.S. accounted for the largest consumption of antifreeze/coolant, followed by Canadian 2015. North America is the next lucrative market for business enterprises offering antifreeze/coolants.
The key reasons behind the growth in the North American region are emerging economies, government initiatives for FDI, growth in awareness of antifreeze/coolant, and, most importantly, the increase in trends in the industries such as automobiles, electronics, and aerospace and defense. In the European region, Germany is the largest consumer of antifreeze/coolant, owing to its excellent hold on the automotive industry. Furthermore, developing economies such as Brazil, Argentina, and South Africa show high scope for the growth of the antifreeze/coolant market in the RoW region.
The various suppliers of antifreeze/coolant profiled in this report such as BP PLC (U.K.), CHEVRON CORPORATION (U.S.), ROYAL DUTCH SHELL PLC (Netherlands), TOTAL S.A. (France), EXXON MOBIL CORPORATION. (U.S.), LUKOIL (Russia), PETRONAS (Malaysia), BASF SE (Germany), CUMMINS INC. (U.S.) and MOTUL S.A. (France). Order a copy of Antifreeze/Coolant Market by Product Type (Ethylene Glycol and Propylene Glycol), Application (Automobiles and Industrial), and Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=726261 .
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess future market prospects.
On a related note, another research report on Cooling Tower Market Trends & Forecasts to 2020 says, Increasing investments in power and HVACR industries drive the cooling tower market. HVACR is the fastest-growing application of cooling tower. The overall market is estimated to reach USD 2.88 billion by 2020, at a CAGR of 4.2%. Rising demand from Asia-Pacific is a major driver of cooling tower market. Companies like Baltimore Aircoil Company, Bell Cooling Tower, Brentwood Industries Inc., Enexio, Hamon & Cie International SA, Johnson Controls Inc., Paharpur Cooling Towers, SPIG S.p.A., SPX Corporation and Star Cooling Towers Private Ltd. have been profiled in this 139 pages research report at http://www.reportsnreports.com/reports/402791-cooling-towers-market-by-type-dry-evaporative-hybrid-by-application-chemical-petrochemical-and-oil-gas-hvacr-food-beverage-power-generation-and-region-trends-forecast-to-2020.html .
Explore more reports on the chemicals market at http://www.reportsnreports.com/market-research/chemicals/.
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