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Automotive Coolant Market Overview, Size, Industry Share, Growth, Report 2023-2028

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According to the latest report by IMARC Group, titled “Automotive Coolant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on automotive coolant market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global automotive coolant market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Automotive coolant or antifreeze refers to a blend of ethylene glycol or propylene glycol and water that is used to maintain the temperature of the vehicle within a specific range. It is also utilized to prevent automobile radiators from overheating in summer or freezing in winter, thus avoiding subsequent breakdowns. In addition to the base fluid, antifreeze consists of small quantities of corrosion inhibitors and antifoam agents, which enhance the overall effectiveness of the engine.

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Market Trends:

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The expanding automotive industry across the globe is among the key factors driving the automotive coolant market. Moreover, the escalating demand for numerous passenger vehicles is also stimulating the market growth. Besides this, the launch of stringent regulatory policies for the safe disposal of antifreeze material and its recycling has enhanced the adoption of reusable coolant variants by the end users, which is acting as another significant growth-inducing factor. Furthermore, the increasing awareness among consumers about the requirement for proper removal as used antifreeze contains undissolved heavy metals that are toxic for animals and can contaminate the soil is further propelling the global market. Apart from this, several manufacturers are formulating coolants through advanced technologies, such as Inorganic Acid Technology (IAT), Hybrid Organic Acid Technology (HOAT), and Organic Acid Technology (OAT), which help in creating silica- and phosphate-free product, is positively influencing the market growth. Additionally, the growing improvements in the average lifespan of vehicles and the introduction of environment-friendly antifreeze are also fueling the global market. In addition to this, the increasing disposable income levels of the masses are anticipated to fuel the automotive coolant market over the forecasted period.

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/automotive-coolant-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Total S.A. (Total)
  • ExxonMobil
  • Castrol Limited
  • The British Petroleum Plc
  • Cummins Inc.
  • Royal Dutch Shell Plc
  • BASF SE
  • Chevron Corporation
  • The PJSC LUKOIL
  • Motul S.A.
  • China Petrochemical Corporation (Sinopec Group)

Automotive Coolant Market Segmentation:

Our report has categorized the market based on region, product, type, application and end-user.

Breakup by Product:

  • Ethylene Glycol
  • Propylene Glycol
  • Glycerin

Breakup by Type:

  • Inorganic Acid
  • Organic Acid
  • Hybrid Organic Acid
  • Others

Breakup by Application:

  • Passenger Cars
  • Commercial Vehicles
  • Two Wheelers
  • Others

Breakup by End-User:

  • OEM
  • Aftermarket

Breakup by Region:    

  • North America (United States, Canada)
  • Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
  • Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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