DUBLIN, May 17, 2023 /PRNewswire/ — The report “Global Antifreeze Market Size, Trends, by Product Type, by Vehicle Type, by Application and by Region: Global Opportunity Analysis and Industry Forecast, 2023-” has been added 2030″ a ResearchAndMarkets.com’s offers
The global antifreeze market is expected to grow from its estimated value 5.72 billion dollars in 2022 BC 8.32 billion dollars in 2030 at a CAGR of 4.06%
Companies mentioned
- Valvoline Inc.
- Exxon Mobil Corporation
- BASF SE
- TotalEnergies
- Chevron Corporation.
- Royal Dutch Shell plc
- Prestone Products Corporation
- I art
- AMSOIL INC.
- Corporation Recochem
When it’s hot outside, your engine needs a liquid called antifreeze, commonly known as coolant, to help keep it running smoothly. Coolant is injected into the engine block to maintain a constant operating temperature when the outside weather fluctuates from hot to cold.
More than just maintaining a stable temperature is what antifreeze achieves. Vehicles use antifreeze as an essential engine coolant to help control temperature. Antifreeze helps prevent engine and radiator water from heating up in hot conditions. At temperatures up to 275 degrees Fahrenheit, it can work with liquids.
Market drivers
Vehicle performance and fuel efficiency have improved as a result of the introduction of high performance lubrication as a result of increased environmental laws to reduce the carbon footprint. High-performance lubricants are blended with automotive antifreeze to prevent freezing, which extends engine life.
The automotive antifreeze market is expected to increase significantly as a result in the coming years. Key market participants focus on new product launch strategies and global growth to ensure market sustainability.
Long-term contact with automotive antifreeze can poison people and have dangerous effects on small animals. Governments in several nations are enforcing laws to counter the negative consequences that could endanger the environment by poisoning water supplies.
As a result, to meet the requirements set by various government authorities, manufacturers in the automotive antifreeze market are adding bio-based antifreezes to a variety of lubricant compositions. Customers gravitate towards bio-based automotive antifreeze as it is environmentally benign and biodegradable.
Market limitations
However, the development of long-life coolants and the growing trend of engine downsizing are restraining the antifreeze market over the forecast period, and the fluctuating price of raw materials combined with antifreeze recycling will a growth challenge.
Market segmentation
By product type
- glycerin
- propylene glycol
- Ethylene glycol
By Type of Vehicle
- Passenger cars
- Low commercial vehicles
- Heavy commercial vehicles
By Application
- automotive
- aerospace
- Industrial heat transfer
- Cooling systems
By Region
North America
Latin America
- brazil
- Argentina
- colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of europe
Asia Pacific
- china
- Japan
- India
- South Korea
- Australia
- New Zealand
- singapore
- malaysia
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Egypt
- Kuwait
- South Africa
- Rest Middle East & Africa
For more information on this report, visit https://www.researchandmarkets.com/r/td3n4u
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SOURCE Research and Markets
