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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Antifreeze Market Share
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.
Antifreeze Market Report Snapshots
Antifreeze Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global antifreeze market attained a value of nearly USD 7.68 billion.
The market is projected to grow at a CAGR of 6.7% between 2024 and 2032.
The increasing demand for passenger and commercial vehicles, growing investments in the automotive and manufacturing sector, and heightened application of antifreeze in the aerospace sector are the major market drivers.
The key trends guiding the market growth are rapid investments in the research and development of antifreeze manufacturing, the growing demand for high-performance vehicles, and technological advancements.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant products include ethylene glycol based, propylene glycol based, and glycerin based.
The various antifreeze technologies considered in the market report are organic acid technology antifreeze (OAT), inorganic acid technology antifreeze (IAT), and hybrid organic acid technology (HOAT).
The major application segments include automobile, aerospace, and industrial heat transfer and cooling system, among others.
The major players in the market are Royal Dutch Shell PLC, CCI Corporation, BASF SE, Old World Industries Inc., KMCO LLC, and Sonax GmbH, among others.
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