Global Antifreeze Market was valued US$ 5.8 Bn in 2017 and is expected to reach 9.50 Bn by 2026, at a CAGR of 6.36 % during a forecast period.
Antifreeze is a preservative, which helps to manage the temperature of a vehicle's engine by sinking freezing point and growing the boiling point of the cooling system.
Growing concerns in protecting automotive engines and radiators in contrast to overheating, freezing and corrosion is projected to increase the demand for antifreeze. Rising demand for passenger cars & lightweight commercial vehicles in developing countries like China & India coupled with favorable government policies on automotive development and manufacturing is estimated to create massive antifreeze market potential. On the other hand, the efficiency of an antifreeze liquid declines with overuse and at extreme temperature, which is expected to hamper the market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Ethylene Glycol is generally used in the automotive industry owing to its desirable features like desirable thermal properties with a high boiling point, low freezing point. Innovative research and development activities for cost-effective, environment-friendly, bio-based coolants or antifreeze are expected to create enormous opportunities for the antifreeze market during the forecast period.
Aerospace is expected to hold the second largest application sector in the global antifreeze market. The increasing commercial aerospace subsector coupled with growing defense budgets by developing and developed across the globe are expected to dominate the growth in the global antifreeze market.
The aftermarket segment is expected to share significant growth in the global antifreeze market during the forecast period. The growth in the market can be attributed to increasing the requirement of servicing the vehicles intermittently, which needs the usage of antifreeze agent.
The Asia Pacific region is projected to dominate the global antifreeze market followed by North America. The factor responsible for the growth of the Asia Pacific market is the rising demand for passenger car and the lightweight vehicle in developing countries like India, China, and Japan. Additionally, the existence of prominent key players in the Asia Pacific region and growing sale of automobiles in China is also making huge growth for antifreeze market from the automotive sector. Furthermore, North America is expected to grow at a XX% rate of CAGR in the global antifreeze market. The increasing demand for light vans and trucks is expected to increase the demand for antifreeze in this region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global antifreeze market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global antifreeze market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of the Report for Global Antifreeze Market
Global Antifreeze Market, By Product
• Ethylene Glycol
• Propylene Glycol
Global Antifreeze Market, By Technology
• Inorganic Acid Technology (IAT)
• Organic Acid Technology (OAT)
• Hybrid Organic Acid Technology (HOAT)
Global Antifreeze Market, By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
Global Antifreeze Market, By Distribution Channel
Global Antifreeze Market, By Application
Global Antifreeze Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
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