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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Automotive Antifreeze Market Analysis by Region
Asia Pacific leads the market due to the significant growth in the demand for automobiles in India
The Asia Pacific region is expected to dominate the automotive antifreeze market share due to the significant growth in the demand for automobiles in countries like India and China. India and China, the fastest-growing automotive markets globally have witnessed an increase in the demand and sales for passenger vehicles and high-performance vehicles, which in turn is driving the demand for automotive antifreeze. For instance, Indian passenger vehicle sales in May 2024 were 300,795 units, showcasing a year-over-year growth of 4.2%.
The North America automotive antifreeze market is growing at a high CAGR due to the increasing number of vehicles in operation and thereby the rising need for thermal management and performance improvement. Moreover, market players are investing in research and development to create new antifreeze products. BASF, for example, introduced GLYSANTIN G22 ELECTRIFIED, a low conductivity ready-to-use coolant for electric vehicles based on ethylene glycol. This coolant addresses safety aspects related to battery thermal management, including corrosion protection, electrical conductivity, and heat dissipation. Additionally, BASF launched GLYSANTIN G30 ECO BMB 100, a premium grade coolant with organic acid technology (OAT), which is used in high performance vehicles.
Automotive Antifreeze Market Report Snapshots
Automotive Antifreeze Market Size
Automotive Antifreeze Market Growth
Automotive Antifreeze Market Trends
Automotive Antifreeze Market Share
Automotive Antifreeze Manufacturers
Automotive 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 automotive antifreeze market reached an approximate value of USD 4.26 billion.
The market is expected to grow at a CAGR of 7.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 8.40 billion by 2032.
The major drivers of the market include the easy availability of automotive antifreeze, growing automotive industries, and the rising demand for high performance vehicles.
Key trends aiding market expansion include the rise in demand for personal vehicles in colder climates, development of bio-based coolants, and the flourishing chemical industry.
Regions considered in the automotive antifreeze market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading fluid types in the market are ethylene glycol, propylene glycol, and glycerine.
The major technologies in the market are inorganic additive technology (IAT), organic acid technology (OAT), and hybrid organic acid technology (HOAT).
The significant applications include passenger vehicle, commercial vehicle, and construction vehicle.
Key players in the market are Castrol Limited, Halfords Group PLC, Chevron Corporation, Exxon Mobil Corporation, Motul, and Prestone Products Corporation, among others.
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