Automotive Antifreeze Market

Automotive Antifreeze Market - An Overview

The global automotive antifreeze market is expected to witness strong growth during the forecast period between 2021 and 2031.

Automotive antifreeze help in controlling the temperature of the engine of a vehicle by decreasing the freezing point and increasing the boiling point of a cooling system.

Some of the raw materials commonly deployed in the manufacturing of automotive antifreeze include organic salts, inorganic salts, and azoles.

Methanol was extensively deployed in the production of automotive antifreeze earlier and this product found its application in windshield fluids. However, because of the constant corrosion of metals, especially aluminum, the product was later not used in the manufacturing of automotive antifreeze.

COVID-19 pandemic adversely affected the growth in the overall automotive antifreeze market. With manufacturing facilities shutting down temporarily or permanently owing to government-imposed lockdowns, production of vehicles was reduced significantly.

That led to reduced consumer demand for new vehicles and, in turn, affected the demand for automotive antifreeze and the overall market, too.

Automotive Antifreeze Market - Trends and Opportunities

Rising demand for high-performance vehicles among consumers is the key growth driver for the global automotive antifreeze market.

In addition to this, rising demand for battery electric vehicles among different population sections is projected to bolster the automotive antifreeze market, in the coming years.

Introduction of eco-friendly coolants by leading players could also contribute to the growth of the overall automotive antifreeze market, in the years ahead.

Other factors such as growing sales of construction equipment owing to demand for new residences among families as well as ongoing construction activities are anticipated to fuel the growth in the global automotive antifreeze market.

Commercial vehicle application segment is expected to make the largest contribution to the overall automotive antifreeze market because of increased antifreeze demand to decrease the heat levels in large commercial vehicles such as SUVs.

Automotive Antifreeze Market - Competitive Landscape

The global automotive antifreeze market is extremely competitive, with the presence of several well-established market players. Many of them are expected to account for a large share in the overall market, in future.

Growth strategies such as new product launches could help leading automotive antifreeze market players gain a competitive edge over others.

Valvoline LLC launched two new antifreeze products in August 2021, named Valvoline Antifreeze Coolant HT-12™ Green and Valvoline Antifreeze Coolant HT-12 Pink, in a bid to help reduce the heat in the engine of a vehicle.

Collaboration with smaller players could help prominent automotive antifreeze market players expand their market presence and increase their revenue shares.

Some of the leading players in the global automotive antifreeze market include Castrol, Exxon Mobil Corporation, Rock Oil Company LLC, Valvoline LLC, and Motul.

Automotive Antifreeze Market - Regional Assessment

The global automotive antifreeze market is classified into four regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.

North America is expected to be the dominant region in the global automotive antifreeze market owing to the increased production of large engine capacity vehicles in countries such as US, Mexico, and Canada.

Asia Pacific is expected to witness significant growth in the automotive antifreeze market in future owing to increasing number of automobiles, deploying antifreeze to reduce the heat levels in engines.

Europe is expected to witness strong growth in the global automotive antifreeze market because of rising investments in R&D activities in countries such as UK and Germany.

The presence of leading market players in these countries could also contribute to the growth of the overall automotive antifreeze market, in the coming years.

Other parts of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall automotive antifreeze market, in the coming years.