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Supplemental Coolant Additives Market: Overview

  • Supplemental coolant additives are chemical additives added to coolants in gel, liquid, or powder forms to boost the corrosion inhibiting properties of coolants and inhibit other damage
  • Supplemental coolant additives also function as cooling media. These coolant additives help prevent overheating.
  • Supplemental coolant additives are based on various compounds including silicate, nitrite, molybdate, and azole. These coolants are formulated with the use of premium grade chemical compounds and advanced methodologies in order to make them resistant to corrosion and fungi.
  • Supplement coolant additives improve cooling efficiency, help prevent overheating, enhance lubricity, and provide protection from damage

Rise in Demand for Supplemental Coolant Additives in Automotive Industry

  • The supplemental coolant additives market is anticipated to expand significantly during the forecast period. Rise in population, increase in demand for vehicles, and growth in disposable income are key factors expected to boost the demand for supplemental coolant additives during the forecast period.
  • Increase in production of automotive is driving the demand for automotive accessories. This, in turn, is boosting the demand for supplemental coolant additives. Supplemental coolant additives play an important role in maintenance and functioning of automotive engines.
  • Rise in consumer demand for high vehicle performance and product longevity is driving manufacturers to develop innovative technologies and products. Supplemental coolant additives improve engine performance and the overall life of the vehicle. Thus, demand for supplemental coolant additives has increased in the automotive sector. This is anticipated to propel the market during the forecast period.

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Liquid Form Segment Estimated to Offer Lucrative Opportunities

  • Based on form, the global supplemental coolant additives market can be segmented into liquid, powder, and gel
  • Liquid is anticipated to be a rapidly growing segment of the global supplemental coolant additives market during the forecast period. Liquid supplemental coolant additives are widely used to increase the life of coolants.

Molybdate Supplemental Coolant Additives Type Segment to Offer Significant Opportunities

  • Based on type, the global supplemental coolant additives market can be segregated into nitrite supplemental coolant additives, molybdate supplemental coolant additives, silicate supplemental coolant additives, and others
  • Molybdate supplemental coolant additives segment is projected to be a rapidly growing segment of the global supplemental coolant additives market during the forecast period
  • Molybdate supplement coolant additives are primarily employed in heavy duty diesel engines in order to improve engine performance

Automotive End-use Segment to Hold Major Share of Market

  • Base on end-use, the global supplemental coolant additives market can be classified into industrial machinery, automobile, HVAC, and others
  • The Automotive segment accounts for prominent share of the global supplemental coolant additives market due to the rise in demand for supplemental coolant additives in the automotive industry
  • Automotive engines are prone to corrosion in modern high speed filters. Corrosion adversely affects the engine life. Supplemental coolant additives enhance corrosion inhibiting properties of coolants.

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Asia Pacific to Hold Significant Share of Global Supplemental Coolant Additives Market

  • In terms of region, the global supplemental coolant additives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is anticipated to constitute significant share of the global supplemental coolant additives market in the near future. Growth in the automotive sector, especially in China and India, is likely to drive the supplemental coolant additives market in the region.
  • North America and Europe region are increasingly adopting alternative coolants, which do not require supplemental coolant additives. This is anticipated to negatively affect the supplemental coolant additives market in these regions. However, demand for supplemental coolant additives is projected to remain steady in North America and Europe owing rise in demand for high performance engines in some countries in these regions.
  • The supplemental coolant additives market in Latin America and Middle East & Africa is likely to expand at a steady pace during the forecast period

Key Players in Market

The global supplemental coolant additives market was highly fragmented in 2018. Prominent players operating in the global supplemental coolant additives market seek to enter into partnerships for the development of innovative products.

Key players operating in the global supplemental coolant additives market include:

  • Prestone Products Corporation
  • Cummins Filtration
  • Fleetgaurd Filters Pvt. Ltd.
  • Dober
  • Penray
  • Chemtex Speciality Limited
  • Castrol(BP)
  • Kellerstrass Oil

Global Supplemental Coolant Additives Market: Research Scope

Global Supplemental Coolant Additives Market, by Form

  • Liquid
  • Powder
  • Gel

Global Supplemental Coolant Additives Market, by Type

  • Nitrite Supplemental Coolant Additives
  • Molybdate Supplemental Coolant Additives
  • Silicate Supplemental Coolant Additives
  • Others

Global Supplemental Coolant Additives Market, by End-use

  • Industrial Machinery
  • Automobile
  • HVAC
  • Others

Global Supplemental Coolant Additives 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 Countries
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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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:

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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.

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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 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?

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Supplemental Coolant Additives Market

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