Automotive Antifreeze Market to Exhibit Huge Growth on Account of Rising Demand for Automobiles Around the World Till 2022 | Million Insights
FELTON, California, August 6, 2018 /PRNewswire/ --
Global Automotive Antifreeze Market is segmented on the basis of product, additive technology, vehicle type and geography. Automotive antifreeze is also referred as automotive coolant that is normally a liquid used in the radiator and cooling system of an internal combustion engine for vehicles. The fundamental element in most coolants is ethylene glycol or propylene glycol. Automotive antifreeze keeps the cooling water from freezing in winter and from boiling in summer. A further task is to lubricate the cooling system, such as the water pump. Most anti-freezers contain corrosion inhibitors and other additives like foam depressants.
Antifreeze is a chemical that alters the freezing and boiling points of the coolant in internal combustion engines that use water-cooling. The sole objective of these additives is to prevent the liquid coolant from freezing that may result into extensive engine damage. However, modern antifreeze also enables cooling systems to operate more efficiently by raising the boiling point of the coolant solution. Several substances have been used as an antifreeze earlier, but currently ethylene glycol is the only automotive applications use as an automotive antifreeze.
The automotive antifreeze market is expected to grow during the forecast period. Antifreeze is an additive added to lower the freezing point of the vehicle and achieve boiling point elevation. This allows for a higher coolant temperature, which is vital for the automobile in a hot environment. The rising demand for automobiles around the world is the major driver for the antifreeze market. Vehicle engines have become extremely sophisticated and a higher level of technology is essential for the optimum performance of the engine.
Browse 111 page research report with TOC on "Global Automotive Antifreeze Market" at: https://www.millioninsights.com/industry-reports/automotive-antifreeze-market
On the basis of product, the automotive antifreeze market is segmented into ethylene glycol, propylene glycol, glycerine, and so on. On the basis of additive technology, the automotive antifreeze market is segmented into inorganic acid technology (IAT), organic acid technology (OAT), hybrid organic acid technology (HOAT) and so on.
"Organic acid technology (OAT)" is estimated to witness the highest growth in the automotive antifreeze market. The growth of this technology is due to the presence of neutralized inorganic salts and acids, which can be decomposed without influencing the environment. OAT based antifreeze has the maximum presence in North American and European regions, where the usage of IAT based technology has declined significantly owing to its toxic nature. The global demand for OAT based antifreeze is projected to grow owing to the longer replacement life of the OAT based antifreeze, as compared to IAT based antifreeze.
On the basis of vehicle type, the automotive antifreeze industry is segmented into passenger cars, light commercial vehicles (LCV) and heavy commercial vehicles (HCV)."Passenger cars" are expected to lead the antifreeze market for OE. An increase in the sales results in a corresponding increase in vehicle park of passenger cars. As the number of passenger cars on road is higher than commercial vehicles, the aftermarket for antifreeze of passenger cars is high. On the basis of geography, the automotive antifreeze market is segmented into Europe, Asia Pacific, Latin America, North America and Middle East & Africa. North America is estimated to dominate the antifreeze market for OE. The growth in the market of automotive antifreeze can be attributed to the higher production and demand for large engine capacity vehicles in this region.
The production of light commercial vehicles (LCV) in North America is expected to continue increasing in the upcoming years with a higher growth rate. This is the highest production of LCVs across all regions. Also, LCVs in North America have a higher antifreeze requirement of around 7-8 liters which is ~42% higher than other regions. Such factors would contribute to the growth of the automotive antifreeze industry in the region. The key players of the automotive antifreeze market are Royal Dutch Shell PLC, BP PLC, Total and Chevron Corporation, Ford Motor Company, Nissan, Honda, Valvoline, Castrol, China Petrochemical Corporation, BASF SE, Cummins Inc., Motul, Prestone Products Corporation and ExxonMobil Corporation.
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Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Automotive Antifreeze in these regions, from 2012 to 2022 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India
Global Automotive Antifreeze market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Castrol
• Chevron
• Royal Dutch Shell
• Total
• ExxonMobil
• Valvoline
• BP PLC
• BASF
• Fuchs
• KOST USA
• Cummins
• Recochem Inc
• Rock Oil
• Motul
• Halfords Group
• Prestone Products
• Sinopec
• China National Bluestar
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Ethylene Glycol
• Propylene Glycol
• Glycerin
• Other
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Automotive Antifreeze for each application, including
• Passenger Vehicles
• LCVs
• HCVs
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