Automotive Turbo Coolant Market

Automotive Turbo Coolant: Introduction

• Car coolant, also known as antifreeze, protects engines from overheating. Coolant also lubricates the moving parts it comes into contact with, which protects damage to the water pump, head gasket, the cylinder and piston timing. Coolant is utilized in almost all major automobiles, ranging from engine motor bikes to heavy duty commercial vehicles.
• Coolant is a superior quality ethylene glycol-based engine coolant with a low silicate corrosion inhibitor package. This product protects metals of the coolant system, including heat-rejecting aluminum, against pitting caused by cavitation and corrosion.
• Several turbochargers are designed to be sufficiently cooled by air. A turbocharger needs a coolant running through its system in order to meet durability targets. The major advantage of liquid cooling is that the coolant can be circulated after hot engine shut down.

Key Drivers of Global Automotive Turbo Coolant Market

• Turbo coolant provides exceptional cooling in summer and excellent protection against freezing in the winter. It is recommended for use in older model domestic and foreign cars and light duty trucks. It is expected to provide up to 50,000 miles or 2 years of service life when installed as initial fill, or after a complete flush and cleaning of a cooling system in reasonable condition. It is compatible with supplemental coolant additives (SCA) and coolant filters and hence, it can be used in heavy duty diesel coolant systems when pre-charged with SCA. All these factors are anticipated to boost the automotive turbo coolant market across the globe.
• Easy and abundant availability of various materials, including ethylene glycol, propylene glycol, and glycerin in developed countries that helps new entrants develop such products in the industry, also drives the automotive turbo coolant market across the globe
• Rise in demand for vehicles and continuous investments in research and development by automakers for the development of cost-effective, environment-friendly and low toxic products with a high life within the industry is likely to drive the global automotive turbo coolant market
• The trend of urbanization is growing at an exponential rate, which is propelling the average income of urban population and enabling them to enhance their lifestyles. Furthermore, a rise in the demand for passenger cars is prompting manufacturers for increase production of commercial vehicles, which in turn is boosting the automotive turbo coolant market across the globe.

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 turbo coolant market. Rise in preference for private transport and buying power of consumers is driving the passenger vehicle segment of the market.
• Coolants are also known as antifreeze agent; this product is being increasingly utilized to substitute water and other cooling agents, owing to their superior heat absorption and corrosion inhibiting properties. The recently trend of substituting toxic, ethylene glycol with safer, organic-based coolants is anticipated to provide lucrative growth opportunities for the market during the forecast period.

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, office shutdowns, and others. For instance, China is a global manufacturing hub and raw material supplier of various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting global supply chains and disrupting manufacturing, delivery schedules and sales of various chemicals and materials. Various companies announced possible delays in product deliveries and slump in future sales of their products. All the factors are anticipated to hamper the global automotive turbo coolant market across the globe.

Asia Pacific to Hold Significant Share of Global Automotive Turbo Coolant Market

• Asia Pacific comprises rapidly expanding economies, including India and those in ASEAN, which is likely to witness higher demand for vehicles and consequently, boost the automotive turbo coolant market during the forecast period
• Asia Pacific held a leading share of the global automotive turbo coolant 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 turbo coolant market is highly fragmented with top manufacturers across the global market. A few of the key players operating in the global automotive turbo coolant market are:

• Castrol Limited.
• Arteco
• Cummins Filtration
• Motul S.A.
• China National BlueStar (Group) Co. Ltd.
• Valvoline International Inc.
• Exxon Mobil Corporation
• Sinopec Corporation
• Shandong Yuean Chemical Industry Co. Ltd.
• Total S.A.
• Chevron Corporation
• Royal Dutch Shell Plc
• PETRONAS
• BP Plc
• BASF SE
• OLD WORLD INDUSTRIES LLC
• Prestone Products Corporation

Global Automotive Turbo Coolant Market: Research Scope

Global Automotive Turbo Coolant Market, by Vehicle Type

• Passenger Vehicle
  • Hatchback
  • Sedan
  • Utility Vehicles
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Buses and Coaches

Global Automotive Turbo Coolant Market, by Organic Chemical Type

• Ethylene Glycol
• Propylene Glycol
• Others

Global Automotive Turbo Coolant Market, by Sales Channel

• OEM
• Aftermarket

Global Automotive Turbo Coolant Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa