What Is The Current and Historic Market Size Analysis Of Antifreeze/Coolant Market?
The antifreeze/coolant market has seen considerable growth due to a variety of factors.
• In recent times, there's been a consistent growth in the size of the antifreeze/coolant market. The market, which is valued at $5.85 billion in 2024, is projected to rise to $6.07 billion in 2025, marking a compound annual growth rate (CAGR) of 3.8%.
The growth observed in the historical period can be linked to factors such as the expansion of the automotive industry, a surge in vehicle ownership, extreme weather scenarios, regulatory standards governing engine coolants, growth of the commercial vehicle fleet, and the incorporation of electric and hybrid vehicles.
What is the Forecasted Market Size and CAGR for the Antifreeze/Coolant Market?
The antifreeze/coolant market is expected to maintain its strong growth trajectory in upcoming years.
• The market for antifreeze/coolant is poised for stable expansion in the coming years, with a projection to reach $7.38 billion by 2029, growing at a compound annual growth rate of 5.0%.
This growth for the forecasted period is due to factors such as the impacts of global climate change, the proliferation of aftermarket services, strict environmental legislation, increased consumer education on the value of coolant, and partnerships with automotive Original Equipment Manufacturers (OEMs). Key market trends for this period involve progress in coolant technologies, technological leaps in automotive engines, a surge in the use of organic acid technology (OCT) and hybrid organic acid technology (HOCT), focus on environmental sustainability, along with the creation of low-toxicity and biodegradable formulas.
What Factors Are Driving Growth In The Antifreeze/Coolant Market?
The surge in vehicle manufacturing is set to drive the growth of the antifreeze/coolant market. Vehicle manufacturing encompasses the production of passenger cars, light trucks, as well as utility vehicles such as minivans, pickup trucks, and sport utility vehicles. The role of antifreeze or coolant is crucial as it helps to maintain engine temperature, avert freezing or overheating, and shield against rust or corrosion. For instance, records from May 2023 show that the European Automobile Manufacturers Association, a trade association based in Belgium, reported that the worldwide production of motor vehicles in 2022 hit 85.4 million units, indicating a rise of 5.7% from 2021. As such, the antifreeze/coolant market is being propelled by the increase in vehicle manufacturing.
What Are The Principal Market Segments In The Global Antifreeze/Coolant Healthcare Industry?
The antifreeze/coolant market covered in this report is segmented –
1) By Product: Propylene Glycol, Ethylene Glycol, Other Products
2) By Technology: Inorganic Additive Technology (IAT), Organic Acid Technology (OAT), Nitrite Organic Acid Technology (NOAT), Hybrid Organic Acid Technology (HOAT), Other Technologies
3) By Application: Industrial, Automobiles, Other Applications
Subsegments:
1) By Propylene Glycol: Propylene Glycol-Based Antifreeze, Propylene Glycol-Based Coolants
2) By Ethylene Glycol: Ethylene Glycol-Based Antifreeze, Ethylene Glycol-Based Coolants
3) By Other Products: Water-Based Coolants, Additives, Bio-Based Antifreeze/Coolants
Pre-Book The Antifreeze/Coolant Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Antifreeze/Coolant
Significant players in the market are concentrating their efforts on the creation of novel technologies, like Organic Acid Technology (OAT), a type of coolant formulation using organic acids to combat corrosion. For example, Valvoline Inc., an American firm specializing in lubricants and automotive chemicals, introduced an innovative coolant with OAT in August 2022. Catering to the growing needs of contemporary engines, which function under more complicated and testing conditions, this coolant improves engine performance and life span. This glycol-based, comprehensive antifreeze coolant is apt for all cars and commercial vehicles and promises an extendable drain interval of 5 years or 500,000 km. It is uniquely backward compatible and can be applied across all cooling systems, covering BSVI and older engine models. By offering superior protection against rust and corrosion, it ensures exceptional engine health even in severe weather conditions.
Who Are the Key Players in the Antifreeze/Coolant Market?
Major companies operating in the antifreeze/coolant market include:
• Exxon Mobil Corporation
• Royal Dutch Shell PLC
• TotalEnergies
• Chevron Corporation
• BASF SE
• Honeywell International Inc.
• Solar Thermo Fluids
• Fuchs Petrolub SE
• Valvoline LLC
• Camco Manufacturing Inc.
• Amsoil Inc.
• British Petroleum plc
• MOTUL
• Carl Bechem Lubricants India Pvt. Ltd.
• Comma Oil & Chemicals Ltd.
• Prestone Products Corporation
• Recochem Corporation
• Old World Industries LLC
• Pentosin-Werke GmbH
• Arteco NV
• Bar's Products Inc.
• International Lubricants Inc.
• Liquid Intelligence Pty Ltd
• Silverhook Ltd.
• Environmental Manufacturing Solutions LLC.
• Evans Cooling Systems Inc.
• Peak Antifreeze & Coolant LLC
What are the Regional Insights into the Antifreeze/Coolant Market?
Asia-Pacific was the largest region in the antifreeze/coolant market in 2024. North America is expected to be the fastest-growing region in the global antifreeze/coolant market report during the forecast period. The regions covered in the antifreeze/coolant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
