Automotive OAT Antifreeze: Introduction
- Antifreeze is an additive that lowers the freezing point of water-based liquid. Antifreeze is utilized to overcome the shortcoming of water as a heat transfer fluid.
- Organic acid technology (OAT) is organic additive that is a fully formulated extended life ethylene glycol antifreeze or coolant. It is useful for the maintenance demands of heavy duty diesel cooling systems. It provides protection to the diesel engine against freezing, boil-over, cavitation, liner pitting, erosion, corrosion, and elastomer gasket degradation and scaling. Moreover, this technology provides superior protection to all components of the cooling system including exotic materials, such as aluminum and magnesium, found in the engine.
Key Drivers of Global Automotive OAT Antifreeze Market
- OAT products use propylene glycol as the base; hence, they are less harmful for pets, kids, and the environment in case of spill or boil-over. Consequently, several automakers employ this type of products within their vehicles. Moreover, the demand for such a products is high among consumers, which in turn drives the automotive OAT antifreeze market across the globe.
- Rise in disposable income, changing lifestyles, and rapid urbanization are prompting people across the globe to prefer feature-loaded vehicles. This is likely to boost the automotive OAT antifreeze market.
- Easy and abundant availability of various materials including ethylene glycol, propylene glycol, and glycerin in developed countries help new entrants to develop such products for the industry. This, in turn, propels the automotive OAT antifreeze market across the globe.
- Rise in demand for vehicles and continuous investments by automakers in research & development for the development of cost-effective, environment-friendly, and low toxic products with a high life within the industry is likely to drives the global automotive OAT antifreeze market
Passenger vehicle segment to offer attractive opportunities
- The passenger vehicle segment is likely to hold a significant share of the market by the end of the forecast period. This is attributed to a rise in the demand for utility vehicles in highly populated countries such as China, India, and Brazil.
- High demand for e-class, crossovers, SUVs, and hatchbacks is driving the passenger vehicle segment, which in turn is likely to boost the automotive OAT antifreeze market. Rise in preference for private transport and buying power of consumers is driving the passenger vehicle segment of the market.
- OAT antifreeze also maintains temperature by protecting the cooling systems from overheating during hot weather and from freezing during winters. It also prevents rust and corrosion and engine failure as well as enhances the life of engine components. Sales of high performance cars have been increasing in the last few years, which is likely to further boost the global automotive OAT antifreeze market.
COVID–19 pandemic to hamper market
- The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans and business lockdowns. The global chemicals and materials industry is suffering serious disruptions such as supply chain breaks and office shutdowns. For instance, China is global manufacturing hub and raw material supplier of various industries. The lockdown of various plants and factories in China is restricting global supply chains and disrupting manufacturing, delivery schedules, and various chemicals and material sales. Various companies announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to hamper the global automotive OAT antifreeze market.
Asia Pacific to hold significant share of global automotive OAT antifreeze market
- Asia Pacific comprises rapidly expanding economies, including India and those in ASEAN, which are likely to witness higher demand for vehicles and consequently, boost the automotive OAT antifreeze market during the forecast period
- Asia Pacific held a leading share of the global automotive OAT antifreeze market due to higher volume of vehicles produced in prominent countries, including China and Japan, and lower manufacturing and labor cost across the region. Moreover, availability of inexpensive labor and raw material in the region coupled with increasing number of local manufacturers is likely to propel the market in Asia Pacific during the forecast period.
Key Players Operating in Global Market
The global automotive OAT antifreeze market is highly fragmented with top manufacturers across the globe. Key players operating in the global automotive OAT antifreeze market are:
- Cummins Filteration
- ORG CHEM Group
- Prestone Products Corporation
- Phillips 66 Company
- Chemtex Speciality Limited
- Totachi Industrial Co. Ltd.
- PEAK Auto
Global Automotive OAT Antifreeze Market: Research Scope
Global Automotive OAT Antifreeze Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive OAT Antifreeze Market, by Sales Channel
Global Automotive OAT Antifreeze Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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