Antifreeze is an additive that helps manage the temperature of a vehicle’s engine by reducing freezing point and increasing the boiling point of the cooling system. It can be developed from either organic acid, inorganic salts, and azoles or a combination of all three. It prevents rigid enclosures from bursting due to expansion from freezing. Earlier, methanol was the major ingredient for engine coolant as antifreeze and was widely used in windshield fluids, but later its use gradually declined due to need of frequent replacement and corrosion of the metals, especially aluminum, used in the engine and cooling systems. Methanol-based antifreeze is substituted by an antifreeze with ethylene glycol as the major ingredient, which possesses less volatility and requires less replacements.
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Major Market Players:
• CASTROL LIMITED
• Chevron Corporation
• EXXON MOBIL CORPORATION
• Halfords Group PLC
• Prestone Products Corporation
• ROYAL DUTCH SHELL PLC
• TOTAL SA
• Valvoline Inc
• ROCK OIL REFINING, INC
Factors such as rise in demand for high-performance vehicles and increased use of high-quality technologically advance additive supplements the growth of the global automotive antifreeze market. However, fluctuating raw material (crude oil) price and growing demand of battery operated electric vehicles hampers the growth of the global automotive antifreeze market. Moreover, availability of environment friendly, bio-based coolants & antifreeze supplements the growth of automotive antifreeze market in the near future.
The global automotive antifreeze market is segmented based on fluid type, technology, applications, distribution channel and region. Based on fluid type, the global automotive antifreeze market has been categorized into ethylene glycol, propylene glycol and glycerin. Based on technology, the global automotive antifreeze market has been categorized into inorganic additive technology (IAT), organic acid technology (OAT) and hybrid organic acid technology (HOAT). Based on application, the market has been categorized into passenger vehicle, commercial vehicle and commercial vehicle. Based on distribution channel, the global market has been segmented into original equipment manufacturers (OEMs) and aftermarket. Also, based on region, the global automotive antifreeze market has been studied across North America, Europe, Asia-Pacific and LAMEA.
The high-performance cars witnessed a surge in sales last year. The Mercedes-Benz Cars division sold a total of 2,385,400 vehicles in 2019 despite difficult conditions. It sold 2,382,800 units in 2018. The Mercedes-Benz Cars division hence surpassed the record level of unit sales set in the previous year. At $105.1 billion, revenue also exceeded the previous year’s high level by 1%. This growth in sales was in large part due to the extensive market success of their new compact-class models and continued strong demand for the E-Class and SUVs. In 2019, BMW Group sold 2,520,357 vehicles, posting an all-time high and increase of 1.2% compared to the previous year. Sales of the BMW brand also marked a record in the history of the carmaker where 2,168,516 units were delivered globally, an increase of 2.0% as compared to 2018.
High-performance cars have a necessarily high requirement of automotive antifreeze or coolants to manage the excessive heat produced by the powerful engine and other components. The rising sale of high-performance cars is anticipated to propel the growth of the automotive antifreeze market during the forecast period.
Engine coolant is typically required to transfer heat from the IC engine to the radiator. The radiator cools down the fluid by the means of airflow. A good coolant provides year-round protection against the impacts of high and low temperatures. Currently, a large number of materials are used in the modern cooling system such as steel, copper, aluminum, solder, cast iron, brass, plastics, and numerous types of elastomers. To protect the damage to the components made from these materials, engine coolants must contain specific additives, for instance, corrosion inhibitors.
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Key Benefits For Stakeholders
• This study presents the analytical depiction of the global automotive antifreeze market analysis along with the current trends and future estimations to depict imminent investment pockets.
• The overall automotive antifreeze market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the global automotive antifreeze market with a detailed impact analysis.
• The current automotive antifreeze market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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