Global Antifreeze Market Report 2023: Increasing Environmental Laws to Lower Carbon Footprints Fuel the Sector

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May 17, 2023, 18:15 ET

DUBLIN, May 17, 2023 /PRNewswire/ -- The "Global Antifreeze Market Size, Trends, By Product Type, By Vehicle Type, By Application and By Region: Global Opportunity Analysis and Industry forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Antifreeze Market is expected to grow from its estimated value of US$ 5.72 Bn in 2022 to US$ 8.32 Bn by 2030 at a CAGR of 4.06%

Companies Mentioned

Valvoline Inc.
Exxon Mobil Corporation
BASF SE
TotalEnergies
Chevron Corporation.
Royal Dutch Shell plc
Prestone Products Corporation
Arteco
AMSOIL INC.
Recochem Corporation

When it gets hot outside, your engine needs a liquid called antifreeze, commonly referred to as coolant, to help keep it running smoothly. Coolant is injected into the engine block to maintain a consistent operating temperature when the weather outside fluctuates from hot to cold.

More than merely maintaining a steady temperature is what antifreeze accomplishes. Vehicles use antifreeze as an essential engine coolant to help control temperature. Antifreeze helps keep the engine and radiator's water from overheating in hot weather. At temperatures as high as 275 degrees Fahrenheit, it can operate with liquids.

Market Drivers

Vehicle performance and fuel efficiency have improved as a result of the introduction of high-performance lubrication as a result of increasing environmental laws to lower carbon footprints. High-performance lubricants are mixed with automotive antifreeze to prevent freezing, which prolongs engine life.

The market for automotive antifreeze is anticipated to increase significantly as a result in the next years. Key market participants are concentrating on new product launch strategies and global growth to ensure market sustainability.

Long-term contact with automobile antifreeze can poison people and have hazardous effects on small animals. Governments in several nations are enforcing laws to counteract negative consequences that could endanger the environment by poisoning water supplies.

As a result, to meet the requirements set forth by various governmental authorities, producers in the automotive antifreeze market are adding bio-based antifreeze into a variety of lubricant compositions. Customers are gravitating towards bio-based automobile antifreeze since it is environmentally benign and biodegradable.

Market Restraints

Nonetheless the development of coolants with long service lives and the rising trend of engine downsizing are limiting the market for antifreeze during the anticipated period, and the fluctuating price of raw materials combined with antifreeze recycling will pose a growth challenge.

Market Segmentation

By Product Type

Glycerine
Propylene Glycol
Ethylene Glycol

By Vehicle Type

Passenger Cars
Low Commercial Vehicles
Heavy Commercial Vehicles

By Application

Automotive
Aerospace
Industrial heat transfer
Cooling Systems

By Region

North America

U.S
Canada
Mexico

Latin America

Brazil
Argentina
Colombia
Peru
Chile
Venezuela
Rest of Latin America

Europe

Germany
France
UK
Russia
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Australia
New Zealand
Singapore
Malaysia
Rest of Asia Pacific

Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/td3n4u

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SOURCE Research and Markets