Global Antifreeze Market Report and Forecast 2024-2032

Global Antifreeze Market Size

The global antifreeze market size reached approximately USD 7.68 billion in 2023. The market is projected to grow at a CAGR of 6.7% between 2024 and 2032, reaching a value of around USD 13.80 billion by 2032.

Key Takeaways

• Manufacturers are increasingly developing biodegradable and less toxic antifreeze formulations, such as those based on propylene glycol and glycerin.

• Innovation in antifreeze formulations, such as extended-life and eco-friendly products, is a significant trend.

• The Asia Pacific is witnessing rapid growth in due to the expanding automotive sector and industrial activities.

Antifreeze is an additive solution that helps fluctuate the boiling and freezing points of any water-based liquid and is mainly utilised in mechanical equipment. These are used in below-freezing point environments to avert freezing of any heat transfer liquid. For instance, in the automobile sector, antifreeze works as a coolant to prevent overheating engines by increasing the boiling point of the water-based liquid in the engine. Antifreeze is pumped into the engine to maintain an optimal operating temperature in accordance with the outside temperature.

The rising population worldwide is leading to an increased demand for passenger vehicles in many countries owing to better living standards and growing expenditure due to better income levels. As a result, more individuals are investing in efficient passenger vehicles for ease of transportation which can support the antifreeze market growth. In addition, with growing investments in the development of the commercial infrastructure of the country due to rapid urbanisation, the demand for high yields of commercial and industrial vehicles such as trucks and cranes has increased significantly. Consequently, antifreeze additives are in huge demand to save vehicle repair costs due to overheating damages and corrosion. Moreover, the continuous research by the leading manufacturers to formulate efficient, environment-friendly, and less toxic antifreeze additives is expected to drive market growth in the forecast period.

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Key Trends and Developments

Eco-friendly formulations; the development of extended-life antifreeze; hybrid and electric vehicles; and technological advancements are the major trends impacting the antifreeze market expansion

August, 2023

CCI Holdings Inc. has announced the acquisition of all shares of Japan Chemical Industries Co., Ltd., making it a subsidiary within the group.

January, 2024

BASF SE, a key provider of antifreeze products, announced that it has expanded its distribution network by adding Bamberger Amco Polymers to its list of key distribution partners.

February, 2024

Morris Lubricants has upgraded its Ultralife antifreeze coolants range, increasing its coverage to meet 169 manufacturers' specifications and international standards.

February, 2024

DuPont announced the launch of a glycol-purification solution which is designed to prolong the lifespan of coolants used in electric vehicles (EVs).

Eco-friendly formulations

There is a growing demand for environmentally friendly antifreeze products, such as those made from bio-based or recycled materials.

Development of extended-life antifreeze

Manufacturers are developing antifreeze products with longer service life which reduces the need for frequent replacement.

Hybrid and electric vehicles

The rise of hybrid and electric vehicles (EVs) is influencing the automotive antifreeze market, as these vehicles have different cooling system requirements compared to ICE vehicles.

Technological advancements

Advances in chemical technology are leading to the development of antifreeze products with improved properties, such as better heat transfer and corrosion resistance.

Antifreeze Market Trends

Manufacturers in the antifreeze market are focusing on developing products with extended service life to meet the evolving needs of consumers and industrial sectors. With longer service life, antifreeze products require less frequent replacement, which translates to lower maintenance costs for vehicle owners and industrial operators. Longer-lasting antifreeze also reduces the frequency of disposal, which helps in minimising the environmental impact associated with the disposal of used antifreeze.

Morris Lubricants, a player in the antifreeze coolant market announced the upgradation of its Ultralife antifreeze coolants range in February 2024, increasing its coverage to meet 169 manufacturers' specifications and international standards. The new range is designed to cater to a broad range of vehicles used in various sectors and incorporates various additive chemistries to enhance the performance and longevity of cooling system components.

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Market Segmentation

“Antifreeze Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Ethylene Glycol Based

• Propylene Glycol Based

• Glycerin Based

Market Breakup by Technology 

• Organic Acid Technology Antifreeze (OAT)

• Inorganic Acid Technology Antifreeze (IAT)

• Hybrid Organic Acid Technology (HOAT)

Market Breakup by Application

• Automobile

• Aerospace 

• Industrial Heat Transfer and Cooling System

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Ethylene glycol-based antifreeze accounts for a major antifreeze market share owing to its effective heat transfer properties

Ethylene glycol based antifreeze is predicted to account for a significant market share. The growth of this segment can be attributed to the superior heat transfer properties exhibited by the product owing to its low viscosity. In addition, the freezing point depression is more effective when ethylene glycol-based antifreeze is used, therefore, it is increasingly used in the automobile sector to prevent overheating in vehicle engines. Furthermore, it is used as an industrial coolant in gas compressors, ventilation, and air conditioning systems. Other factors such as its cost-effectiveness and ability to be used in all climates further increase its popularity in various industrial applications and is, thus, expected to positively stimulate market growth.

Propylene glycol-based antifreeze is anticipated to gain sizeable growth in the coming years. It is considered safer for humans and the environment compared to ethylene glycol which makes it a preferred choice for applications where food contact or environmental safety is a concern.

The automotive sector maintains its dominance in the market as antifreeze forms a crucial component of a vehicle’s cooling system

The automotive sector holds the highest share of the antifreeze market. Antifreeze is a critical component of a vehicle's cooling system, preventing the engine coolant from freezing in cold temperatures and boiling in hot temperatures. It also provides corrosion protection for the engine and cooling system components. With the vast number of vehicles on the road and the continuous production of new vehicles, the demand for antifreeze in the automotive sector is substantial.

The industrial sector, particularly in heat transfer and cooling systems is expected to gain significant growth in the antifreeze market in the forecast period as antifreeze is used in various industrial applications, including HVAC systems, refrigeration, and cooling processes in manufacturing and power plants.

Competitive Landscape

Market players are focusing on developing advanced antifreeze formulations with improved properties to tap into new customer bases and increase the market share.

Royal Dutch Shell PLC is a global group of energy and petrochemical companies which operates in various segments, including upstream, downstream and integrated gas.

CCI Corporation is a Japanese chemical company specialising in the production of automotive and industrial chemicals, including antifreeze, brake fluids, and coolants.

BASF SE is one of the largest chemical companies in the world which offers a wide range of products, including chemicals, plastics, performance products, and agricultural solutions.

Old World Industries Inc., founded in 1973, is known for its automotive and industrial chemical products, including antifreeze, coolant, and other functional fluids.

Other key players in the antifreeze market are KMCO LLC and Sonax GmbH, among others.

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Antifreeze Market Analysis by Region

The Asia Pacific region is estimated to hold a substantial share of the market in the forecast period. This growth can be attributed to the growing investments in the automotive and manufacturing sectors in the region. In addition, the rising disposable income levels, improved standards of living, and the developing automobile infrastructure are also propelling market growth. Moreover, the need for transportation and mobility, such as commercial trucks, is expected to increase antifreeze demand in the forecast period. Furthermore, increased investments in the research and development of antifreeze production to create more efficient antifreeze coolants are expected to provide lucrative opportunities for the antifreeze market development.

The Asia Pacific region is home to some of the largest automotive markets in the world, including China, India, and Japan. The increasing production and sales of vehicles in these countries are driving the demand for antifreeze, which is essential for vehicle cooling systems.

Key Highlights of the Report

Antifreeze Market Report Snapshots

Antifreeze Market Size

Antifreeze Market Trends

Antifreeze Market Share

Antifreeze Companies

Antifreeze Market Regional Analysis