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Global Antifreeze Market Size, Share, Analysis, Forecast: By Product: Ethylene Glycol Based, Propylene Glycol Based, Glycerin Based; By Technology: Organic Acid Technology Antifreeze (OAT), Inorganic Acid Technology Antifreeze (IAT), Hybrid Organic Acid Technology (HOAT); By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Antifreeze Market Outlook
The global antifreeze market stood at a value of around USD 7.68 billion in 2023. The market is further expected to grow at a CAGR of 6.7% in the forecast period of 2024-2032 to attain a value of around USD 13.80 billion by 2032.
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Ethylene Glycol Based Antifreeze to Account for a Substantial Market Share of the Global Antifreeze Industry
Based on product, ethylene glycol based antifreeze is predicted to account for a significant market share in the antifreeze industry. The growth of this segment can be attributed to the superior heat transfer properties exhibited by the product owing to its low viscosity. In addition, the freezing point depression is more effective when ethylene glycol based antifreeze is used. Therefore, it is increasingly used in the automobile industry to prevent overheating in vehicle engines. Furthermore, it is used as an industrial coolant in gas compressors, ventilation, and air conditioning systems. Other factors such as its cost-effectiveness and ability to be used in all climates further increase its popularity in various industrial applications and is, thus, expected to positively stimulate the market growth.
The Asia Pacific Region to Hold a Substantial Market Share in the Global Antifreeze Industry
The Asia Pacific region is estimated to hold a substantial share of the antifreeze industry in the forecast period. This growth can be attributed to the growing investments in the automotive and manufacturing industries in the region. In addition, the rising disposable income levels, improved standards of living, and the developing automobile infrastructure are also propelling the industry growth. Moreover, the need for transportation and mobility, such as commercial trucks, is expected to increase antifreeze demand in the forecast period. Furthermore, increased investments in the research and development of antifreeze production to create more efficient antifreeze coolants are expected to provide lucrative opportunities for the industry growth.
Antifreeze: Market Segmentation
Antifreeze is an additive solution that helps fluctuate the boiling and freezing points of any water-based liquid and is mainly utilised in mechanical equipment. These are used in below-freezing point environments to avert freezing of any heat transfer liquid. For instance, in the automobile industry, antifreeze works as a coolant to prevent overheating engines by increasing the boiling point of the water-based liquid in the engine. Antifreeze is pumped into the engine to maintain an optimal operating temperature in accordance with the outside temperature.
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By product, the market is divided into:
- Ethylene Glycol Based
- Propylene Glycol Based
- Glycerin Based
On the basis of technology, the industry can be segmented into:
- Organic Acid Technology Antifreeze (OAT)
- Inorganic Acid Technology Antifreeze (IAT)
- Hybrid Organic Acid Technology (HOAT)
Based on application, the market can be categorised into:
- Automobile
- Aerospace
- Industrial Heat Transfer and Cooling System
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increased Demand for High Performance Vehicles to Bolster the Growth of the Global Antifreeze Industry
The rising population worldwide is leading to an increased demand for passenger vehicles in many countries owing to better living standards and growing expenditure due to better income levels. As a result, more individuals are investing in efficient passenger vehicles for ease of transportation. In addition, with growing investments in the development of commercial infrastructure of the country due to rapid urbanisation, the demand for high yields of commercial and industrial vehicles such as trucks and cranes has increased significantly. Consequently, antifreeze additives are in huge demand to save vehicle repair costs due to overheating damages and corrosion. Moreover, the continuous research by the leading manufacturers to formulate efficient, environment-friendly, and less toxic antifreeze additives is expected to drive the market growth in the forecast period.
Key Industry Players in the Global Antifreeze Market
The report gives a detailed analysis of the following key players in the global antifreeze market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Royal Dutch Shell PLC
- CCI Corporation
- BASF SE
- Old World Industries Inc.
- KMCO LLC
- Sonax GmbH
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Technology, Application, Region |
| Breakup by Product | Ethylene Glycol Based, Propylene Glycol Based, Glycerin Based |
| Breakup by Technology | Organic Acid Technology Antifreeze (OAT), Inorganic Acid Technology Antifreeze (IAT), Hybrid Organic Acid Technology (HOAT) |
| Breakup by Application | Automobile, Aerospace, Industrial Heat Transfer and Cooling System, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Royal Dutch Shell PLC, CCI Corporation, BASF SE, Old World Industries Inc., KMCO LLC, Sonax GmbH, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Antifreeze Market Analysis
8.1 Key Industry Highlights
8.2 Global Antifreeze Historical Market (2018-2023)
8.3 Global Antifreeze Market Forecast (2024-2032)
8.4 Global Antifreeze Market by Product
8.4.1 Ethylene Glycol Based
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Propylene Glycol Based
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Glycerin Based
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Antifreeze Market by Technology
8.5.1 Organic Acid Technology Antifreeze (OAT)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Inorganic Acid Technology Antifreeze (IAT)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Hybrid Organic Acid Technology (HOAT)
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Antifreeze Market by Application
8.6.1 Automobile
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aerospace
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Industrial Heat Transfer and Cooling System
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Antifreeze Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Antifreeze Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Antifreeze Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Antifreeze Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Antifreeze Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Antifreeze Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code: 382000)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Royal Dutch Shell PLC
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 CCI Corporation
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 BASF SE
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Old World Industries Inc.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 KMCO LLC
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Sonax GmbH
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Antifreeze Market: Key Industry Highlights, 2018 and 2032
2. Global Antifreeze Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Antifreeze Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Antifreeze Historical Market: Breakup by Technology (USD Billion), 2018-2023
5. Global Antifreeze Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6. Global Antifreeze Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Antifreeze Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Antifreeze Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Antifreeze Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Antifreeze Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Antifreeze Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Antifreeze Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Antifreeze Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Antifreeze Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Antifreeze Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Antifreeze Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Antifreeze Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Antifreeze Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Antifreeze Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Antifreeze Market Structure
Key Questions Answered in the Report
In 2023, the global antifreeze market attained a value of nearly USD 7.68 billion.
The market is projected to grow at a CAGR of 6.7% between 2024 and 2032.
The increasing demand for passenger and commercial vehicles, growing investments in the automotive and manufacturing sector, and heightened application of antifreeze in the aerospace sector are the major market drivers.
The key trends guiding the market growth are rapid investments in the research and development of antifreeze manufacturing, the growing demand for high-performance vehicles, and technological advancements.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant products include ethylene glycol based, propylene glycol based, and glycerin based.
The various antifreeze technologies considered in the market report are organic acid technology antifreeze (OAT), inorganic acid technology antifreeze (IAT), and hybrid organic acid technology (HOAT).
The major application segments include automobile, aerospace, and industrial heat transfer and cooling system, among others.
The major players in the market are Royal Dutch Shell PLC, CCI Corporation, BASF SE, Old World Industries Inc., KMCO LLC, and Sonax GmbH, among others.
Analyst Review
The global antifreeze market attained a value of USD 7.68 billion in 2023, driven by the increased demand for high performance vehicles. Aided by rapid technological advancements and growing investments in the automotive and manufacturing industries, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product, the market can be distributed into ethylene glycol based, propylene glycol based, and glycerin based. On the basis of technology, the industry can be segmented into organic acid technology antifreeze (OAT), inorganic acid technology antifreeze (IAT), and hybrid organic acid technology (HOAT). The market can be categorised, based on application, into automobile, aerospace, and industrial heat transfer, and cooling system, among others. The major regional markets for antifreeze are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Royal Dutch Shell PLC, CCI Corporation, BASF SE, Old World Industries Inc., KMCO LLC, and Sonax GmbH, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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