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Antifreeze is liquid made from the mixture of chemicals such as ethylene glycol and polypropylene glycol. Itincreases the boiling points and decreases the freezing pointsof water-based liquids present in the vehicle engine. It protects the engine from damage and keeps engine components free from freezing and overheating. Whereas, coolant is made fromthe mixture of antifreeze and water, the ratio of which differs from vehicle to vehicle. The purpose of coolants is to control the temperatures of fluids and engine parts in all weather conditions.It also ensures that the water in the vehicle’s radiator system does not evaporate or boil in summer,and freeze in winter. Antifreeze& coolants finds its applications in automotive, aerospace, and industrial.
The rising demand for antifreeze & coolant material in the automotive industry has propelled the market growth. Antifreeze & coolants maintain the optimum temperature inside the vehicle’s engine by reducing excess heat and avoiding severe damage to its internal component. It also offers excellent properties such as thermal capacity, low viscosity, chemical inertness, non-toxic, and anti-corrosion. The development in the engine and technology innovation has fueled the demand for antifreeze & coolants from the the automotive industry.
Key Market Driver -
Increasing demand of antifreeze & coolantsin the automotive industryto drive the marketgrowth
Key Market Restraint -
Rising demand for electric vehicles will reduce the consumption of antifreeze & coolants
However, the rising environmental concerns has led to the increase in demand for electric vehicles. The electric vehicles operate on batteries and other control units, which further eliminates the application of an internal combustion engine. This results into low acceptance of antifreeze & coolants and is anticipated to restrict the market growth.
Based on technology, the antifreeze & coolants market is segmented into inorganic additive technology (IAT), organic acid technology (OAT), nitrated organic acid technology (NOAT), hybrid organic acid technology (HOAT), and others. Based on application, the market is segmented into automobiles, industrial, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the antifreeze & coolants market are Motul S.A., Cummins Inc, BASF, Chevron Corporation, Lukoil, Total S.A, Carl Bechem Lubricants, Fleetguard Filters Private Limited, Recochem Corporation, and PrixMax.
The Asia Pacific is anticipated to witness the highest growth in the antifreeze & coolant market during the forecast period. China, India, and Japan are the leading contributors in this region and growth is attributed to the rising demand for antifreeze & coolants in the automotive industry. In North America, growth is due to the rapid adoption of inorganic additive technology (IAT) and organic acid technology (OAT) in the industrial sector. The introduction of new passenger cars, and light & heavy commercial vehicles, led to the growth of the automotive industry in Europe. This is expected to boost the demand for antifreeze & coolants in this region. The Middle East & Africa and Latin America will register significant growth, owing to the rising use of hybrid organic acid technology in the aerospace industry.
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