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Antifreeze Market Report Scope & Overview:

The Antifreeze Market size was valued at USD 5.46 billion in 2023. It is estimated to hit USD 9.32 billion by 2031 and grow at a CAGR of 6.9% over the forecast period of 2024-2031.

Antifreeze, also known as coolant, is a substance used to regulate the temperature of engines and prevent them from freezing or overheating. This essential fluid is widely used in various vehicles, including cars, trucks, motorcycles, and heavy-duty machinery. The antifreeze market has witnessed substantial growth in recent years and is expected to continue expanding at a steady pace. Factors contributing to this growth include the rising production and sales of automobiles, particularly in emerging economies. Moreover, the growing awareness among consumers regarding the importance of engine maintenance and the increasing adoption of advanced engine technologies further fuel the demand for antifreeze. Additionally, stringent regulations regarding vehicle emissions and environmental concerns have led to the development of eco-friendly antifreeze solutions, opening up new avenues for market growth.

Antifreeze Market Revenue Analysis

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Ethylene Glycol antifreeze products dominated the antifreeze market with the highest revenue share of about 60.5% in 2023. This type of antifreeze boasts exceptional thermal stability, making it highly effective in preventing freezing and overheating of engines. Its ability to maintain optimal temperature levels ensures the smooth operation of vehicles, safeguarding their engines from potential damage.

Market Dynamics

Drivers

  • Increasing demand for automobiles worldwide

  • Rising industrialization and urbanization in emerging economies

  • Growing awareness regarding the importance of regular maintenance and servicing of vehicles

Restraint

  • Stringent regulations imposed by governing bodies regarding the use of antifreeze

  • Volatility in raw material prices

Opportunities

  • Growing focus on sustainable practices and the rising demand for bio-based antifreeze products

  • Increasing adoption of electric vehicles (EVs)

As the world shifts towards a more sustainable future, the demand for electric vehicles has been steadily rising. These vehicles, powered by electricity rather than traditional internal combustion engines, offer numerous advantages such as reduced emissions and improved fuel efficiency. However, this transition also brings about unique challenges that require innovative solutions. One such challenge is the need to regulate the temperature of electric vehicle components, particularly the batteries. Electric vehicle batteries are highly sensitive to temperature fluctuations, as extreme heat or cold can negatively impact their performance and lifespan. This is where antifreeze plays a crucial role and creates opportunities for the antifreeze market.

Challenges

  • Increasing demand for environmentally friendly alternatives

As the world becomes more conscious of the detrimental effects of certain chemicals on our planet, consumers are actively seeking antifreeze products that are less harmful to the environment. This shift in consumer preferences poses a significant obstacle for traditional antifreeze manufacturers, who must adapt their formulations to meet these new demands.

Impact of Russia-Ukraine War:

The Russia-Ukraine war has disrupted the supply chain of antifreeze products, as both countries are major producers and exporters. With the conflict escalating, transportation routes have been affected, leading to delays and shortages in the market. This has resulted in increased prices and limited availability for consumers and businesses alike. The geopolitical tensions between Russia and Ukraine have also influenced consumer behavior and preferences. As a result, there has been a shift in demand for antifreeze products. Consumers are now more inclined to support domestic manufacturers or seek alternatives from countries not involved in the conflict. This change in demand patterns has forced market players to adapt their strategies to cater to these evolving preferences. The war has prompted both Russia and Ukraine to impose trade restrictions on each other, affecting the antifreeze market. Tariffs, quotas, and other barriers have hindered the free flow of goods between the two countries, further exacerbating supply chain disruptions. These trade restrictions have not only impacted the availability of antifreeze products but have also increased costs for businesses operating in the affected regions.

Impact of Recession:

During periods of recession, the antifreeze market experiences a decline in demand. As a result, the sales of antifreeze products, which are primarily used in automotive and industrial applications, witnessed a significant decrease. Furthermore, the recession often leads to a decrease in vehicle sales, as consumers postpone or cancel their purchases. This directly affects the demand for antifreeze, as it is a crucial component for maintaining the optimal performance of vehicles. Consequently, antifreeze manufacturers and suppliers face a decline in revenue and profitability.

Market Segmentation

By Product

  • Propylene Glycol

  • Ethylene Glycol

  • Glycerin

By Technology

  • IAT

  • OAT

  • HOAT

By Application

  • Aerospace

  • Automobile

  • Industrial heat transfer and cooling systems

Regional Analysis

Asia Pacific dominated the antifreeze market with the highest revenue share of about 28.35% in 2023. This remarkable growth is attributed to the surging demand for passenger cars and light commercial vehicles, particularly in China and India. Moreover, the automotive sector in several countries, such as India, China, Indonesia, and Thailand, has been experiencing significant growth, fueled by an improved standard of living, heightened consumer awareness, and a rise in disposable income. These factors are expected to drive the market's expansion throughout the forecast period. Furthermore, the increasing adoption of electric vehicles and the substantial investments in research and development for hybrid vehicles are poised to create new avenues for growth. This exciting development not only aligns with the global shift towards smart transportation but also presents lucrative opportunities for the antifreeze market.

North America is the second largest region for the antifreeze market and is expected to grow with a steady growth rate of about 7.2% during the forecast period. The region's robust automotive industry, coupled with the increasing demand for vehicles, has significantly contributed to the expansion of the antifreeze market.  Additionally, North America's extreme weather conditions, particularly in the northern regions, further drive the demand for antifreeze. The harsh winters experienced in these areas necessitate the use of antifreeze to prevent engine damage caused by freezing temperatures. Furthermore, the growing awareness among consumers regarding the importance of regular vehicle maintenance has also fueled the demand for antifreeze.

Antifreeze Market By Region

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REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America 

Key Players

The major key players are BASF SE, Royal Dutch Shell, Total, PARAS Lubricants, CCI Corporation, Chevron Corporation, KOST USA, Inc., Old World Industries Inc., Gulf Oil International, SONAX Gmbh, Millers Oils, PENTOSIN, Recochem Inc., and other key players are mentioned in the final report.

Royal Dutch Shell-Company Financial Analysis

Company Landscape Analysis

Recent Development:

  • In May 2023, GLYSANTIN® successfully introduced its new range of biomass-balanced coolants to the European aftermarket. This innovative product line offers enhanced performance and sustainability.

  • In Feb 2023, Old World Industries, the manufacturer of FINAL CHARGE® Heavy Duty Antifreeze/Coolant, announced that FINAL CHARGE® PRO-SERIES, featuring advanced and proprietary technology, has recently received multiple OEM approvals. These include prestigious certifications such as Cummins CES 14603, CES 14439, CES 14636, Volvo VCS2, and Mack Truck. Since its debut in late 2022, this coolant has been recognized for its exceptional quality and performance.

  • In Sept 2022, Gulf Oil Lubricants launched a specialized range of EV fluids designed for electric three-wheelers and buses. This product line is the result of a strategic partnership between Gulf Oil Lubricants, Piaggio Vehicles Pvt Ltd, and Switch Mobility.

Antifreeze Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 5.46 Bn
Market Size by 2031  US$ 9.32 Bn
CAGR   CAGR of 6.9% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments By Product (Propylene Glycol, Ethylene Glycol, and Glycerin)
By Technology (IAT, OAT, and HOAT)
By Application (Aerospace, Automobile, and Industrial heat transfer and cooling systems)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles BASF SE, Royal Dutch Shell, Total, PARAS Lubricants, CCI Corporation, Chevron Corporation, KOST USA, Inc., Old World Industries Inc., Gulf Oil International, SONAX Gmbh, Millers Oils, PENTOSIN, Recochem Inc.
Key Drivers Increasing demand for automobiles worldwide
Rising industrialization and urbanization in emerging economies
Growing awareness regarding the importance of regular maintenance and servicing of vehicles
Market Restraints Stringent regulations imposed by governing bodies regarding the use of antifreeze.
Volatility in raw material prices

 

Frequently Asked Questions

Ans: The Antifreeze Market was valued at USD 5.46 billion in 2023.

Ans: The expected CAGR of the global Antifreeze Market during the forecast period is 6.9%.

Ans: The automotive application segment dominated the Antifreeze Market with the highest revenue share of about 78.5% in 2023.

Ans: The Organic Acid Technology segment dominated the Antifreeze Market with a revenue share of about 54.5% in 2023.

Ans: Yes, you can buy reports in bulk quantity as per your requirements. Check Here for more details.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Antifreeze Market Segmentation, By Product
8.1 Propylene Glycol
8.2 Ethylene Glycol
8.3 Glycerin

9. Antifreeze Market Segmentation, By Technology
9.1 IAT
9.2 OAT
9.3 HOAT

10. Antifreeze Market Segmentation, By Application
10.1 Aerospace
10.2 Automobile
10.3 Industrial heat transfer and cooling systems

11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Antifreeze Market by Country
11.2.2 North America Antifreeze Market by Product
11.2.3 North America Antifreeze Market by Technology
11.2.4 North America Antifreeze Market by Application
11.2.5 USA
11.2.5.1 USA Antifreeze Market by Product
11.2.5.2 USA Antifreeze Market by Technology
11.2.5.3 USA Antifreeze Market by Application
11.2.6 Canada
11.2.6.1 Canada Antifreeze Market by Product
11.2.6.2 Canada Antifreeze Market by Technology
11.2.6.3 Canada Antifreeze Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Antifreeze Market by Product
11.2.7.2 Mexico Antifreeze Market by Technology
11.2.7.3 Mexico Antifreeze Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Antifreeze Market by country
11.3.1.2 Eastern Europe Antifreeze Market by Product
11.3.1.3 Eastern Europe Antifreeze Market by Technology
11.3.1.4 Eastern Europe Antifreeze Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Antifreeze Market by Product
11.3.1.5.2 Poland Antifreeze Market by Technology
11.3.1.5.3 Poland Antifreeze Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Antifreeze Market by Product
11.3.1.6.2 Romania Antifreeze Market by Technology
11.3.1.6.4 Romania Antifreeze Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Antifreeze Market by Product
11.3.1.7.2 Turkey Antifreeze Market by Technology
11.3.1.7.3 Turkey Antifreeze Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Antifreeze Market by Product
11.3.1.8.2 Rest of Eastern Europe Antifreeze Market by Technology
11.3.1.8.3 Rest of Eastern Europe Antifreeze Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Antifreeze Market by Product
11.3.2.2 Western Europe Antifreeze Market by Technology
11.3.2.3 Western Europe Antifreeze Market by Application
11.3.2.4 Germany
11.3.2.4.1 Germany Antifreeze Market by Product
11.3.2.4.2 Germany Antifreeze Market by Technology
11.3.2.4.3 Germany Antifreeze Market by Application
11.3.2.5 France
11.3.2.5.1 France Antifreeze Market by Product
11.3.2.5.2 France Antifreeze Market by Technology
11.3.2.5.3 France Antifreeze Market by Application
11.3.2.6 UK
11.3.2.6.1 UK Antifreeze Market by Product
11.3.2.6.2 UK Antifreeze Market by Technology
11.3.2.6.3 UK Antifreeze Market by Application
11.3.2.7 Italy
11.3.2.7.1 Italy Antifreeze Market by Product
11.3.2.7.2 Italy Antifreeze Market by Technology
11.3.2.7.3 Italy Antifreeze Market by Application
11.3.2.8 Spain
11.3.2.8.1 Spain Antifreeze Market by Product
11.3.2.8.2 Spain Antifreeze Market by Technology
11.3.2.8.3 Spain Antifreeze Market by Application
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Antifreeze Market by Product
11.3.2.9.2 Netherlands Antifreeze Market by Technology
11.3.2.9.3 Netherlands Antifreeze Market by Application
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Antifreeze Market by Product
11.3.2.10.2 Switzerland Antifreeze Market by Technology
11.3.2.10.3 Switzerland Antifreeze Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Antifreeze Market by Product
11.3.2.11.3 Austria Antifreeze Market by Technology
11.3.2.11.4 Austria Antifreeze Market by Application
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Antifreeze Market by Product
11.3.2.12.2 Rest of Western Europe Antifreeze Market by Technology
11.3.2.12.3 Rest of Western Europe Antifreeze Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Antifreeze Market by country
11.4.2 Asia-Pacific Antifreeze Market by Product
11.4.3 Asia-Pacific Antifreeze Market by Technology
11.4.4 Asia-Pacific Antifreeze Market by Application
11.4.5 China
11.4.5.1 China Antifreeze Market by Product
11.4.5.2 China Antifreeze Market by Application
11.4.5.3 China Antifreeze Market by Technology
11.4.6 India
11.4.6.1 India Antifreeze Market by Product
11.4.6.2 India Antifreeze Market by Technology
11.4.6.3 India Antifreeze Market by Application
11.4.7 Japan
11.4.7.1 Japan Antifreeze Market by Product
11.4.7.2 Japan Antifreeze Market by Technology
11.4.7.3 Japan Antifreeze Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Antifreeze Market by Product
11.4.8.2 South Korea Antifreeze Market by Technology
11.4.8.3 South Korea Antifreeze Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Antifreeze Market by Product
11.4.9.2 Vietnam Antifreeze Market by Technology
11.4.9.3 Vietnam Antifreeze Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Antifreeze Market by Product
11.4.10.2 Singapore Antifreeze Market by Technology
11.4.10.3 Singapore Antifreeze Market by Application
11.4.11 Australia
11.4.11.1 Australia Antifreeze Market by Product
11.4.11.2 Australia Antifreeze Market by Technology
11.4.11.3 Australia Antifreeze Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Antifreeze Market by Product
11.4.12.2 Rest of Asia-Pacific Antifreeze Market by Technology
11.4.12.3 Rest of Asia-Pacific Antifreeze Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Antifreeze Market by country
11.5.1.2 Middle East Antifreeze Market by Product
11.5.1.3 Middle East Antifreeze Market by Technology
11.5.1.4 Middle East Antifreeze Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Antifreeze Market by Product
11.5.1.5.2 UAE Antifreeze Market by Technology
11.5.1.5.3 UAE Antifreeze Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Antifreeze Market by Product
11.5.1.6.2 Egypt Antifreeze Market by Technology
11.5.1.6.3 Egypt Antifreeze Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Antifreeze Market by Product
11.5.1.7.2 Saudi Arabia Antifreeze Market by Technology
11.5.1.7.3 Saudi Arabia Antifreeze Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Antifreeze Market by Product
11.5.1.8.2 Qatar Antifreeze Market by Technology
11.5.1.8.3 Qatar Antifreeze Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Antifreeze Market by Product
11.5.1.9.2 Rest of Middle East Antifreeze Market by Technology
11.5.1.9.3 Rest of Middle East Antifreeze Market by Application
11.5.2 Africa
11.5.2.1 Africa Antifreeze Market by Country
11.5.2.2 Africa Antifreeze Market by Product
11.5.2.3 Africa Antifreeze Market by Technology
11.5.2.4 Africa Antifreeze Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Antifreeze Market by Product
11.5.2.5.2 Nigeria Antifreeze Market by Technology
11.5.2.5.3 Nigeria Antifreeze Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Antifreeze Market by Product
11.5.2.6.2 South Africa Antifreeze Market by Technology
11.5.2.6.3 South Africa Antifreeze Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Antifreeze Market by Product
11.5.2.7.2 Rest of Africa Antifreeze Market by Technology
11.5.2.7.3 Rest of Africa Antifreeze Market by Application
11.6 Latin America
11.6.1 Latin America Antifreeze Market by country
11.6.2 Latin America Antifreeze Market by Product
11.6.3 Latin America Antifreeze Market by Technology
11.6.4 Latin America Antifreeze Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Antifreeze Market by Product
11.6.5.2 Brazil Antifreeze Market by Technology
11.6.5.3 Brazil Antifreeze Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Antifreeze Market by Product
11.6.6.2 Argentina Antifreeze Market by Technology
11.6.6.3 Argentina Antifreeze Market by Application
11.6.7 Colombia
11.6.7.1 Colombia Antifreeze Market by Product
11.6.7.2 Colombia Antifreeze Market by Technology
11.6.7.3 Colombia Antifreeze Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Antifreeze Market by Product
11.6.8.2 Rest of Latin America Antifreeze Market by Technology
11.6.8.3Rest of Latin America Antifreeze Market by Application

12. Company profile
12.1 BASF SE
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Royal Dutch Shell
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Total
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 PARAS Lubricants
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 CCI Corporation
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Chevron Corporation
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 KOST USA, Inc.
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Old World Industries Inc.
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Gulf Oil International
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 SONAX GMBH
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Millers Oils
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Products/ Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 Pentosin
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Products/ Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
12.13 Recochem Inc.
12.13.1 Company Overview
12.13.2 Financials
12.13.3 Products/ Services Offered
12.13.4 SWOT Analysis
12.13.5 The SNS View

13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions

14. Use Case and Best Practices

15. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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