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Report Overview
The Latin America antifreeze market size was around USD 805.3 million in 2023. The market is estimated to grow at a CAGR of 5.1% during 2024-2032 to reach a value of USD 1,247.7 million by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Antifreeze Market Size
The Latin America antifreeze market was around USD 805.3 million in 2023. The market is estimated to grow at a CAGR of 5.1% during 2024-2032 to reach a value of USD 1,247.7 million by 2032.
Key Takeaways
- Rising eco-consciousness is enhancing the demand for eco-friendly antifreeze produced from sustainable feedstocks that are recyclable.
- In 2022, the air conditioner demand in Latin America reached about 7.02 million units, driving the demand for antifreeze for heat transfer and cooling applications.
- In 2022, Latin America attracted nearly USD 100 billion in FDI project announcements, with the automotive sector representing 13%, led by the hydrocarbons sector (24%), thereby widening antifreeze applications.
In the automotive sector, a mixture of antifreeze and water serves as a coolant to prevent overheating of engines by raising the boiling point of the water-based liquid in the engine. The demand for antifreeze is rising along with the sales and manufacture of passenger cars. Antifreeze is a component of the engine coolant and is crucial to maintain the ideal temperature inside the engine of a vehicle. It reduces the excess heat produced while the automobile is running and prevents serious damage to its internal components.
The number of air passengers flying to, from, and within Latin America and the Caribbean (LAC) is rising from a critical COVID-19-induced drop in 2020. The rise in air travel aids the demand for antifreeze for aircraft de-icing and lavatory fluids. From January to November 2023, the total number of passengers travelling to and from the region reached 410.5 million, a rise of 13.9% y-o-y, highlighting a positive trend of recovery and expansion in the sector.
Latin America Antifreeze Market Report Snapshots
Latin America Antifreeze Market Size
Latin America Antifreeze Market Trends
Latin America Antifreeze Companies
Latin America 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
The Latin America antifreeze market attained a value of USD 805.3 million in 2023.
The market is estimated to grow at a CAGR of 5.1% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,247.7 million by 2032.
The expansion of the automotive sector, rising sustainability concerns, and the growing aviation sector are fuelling the growth of the market.
The major regional markets are Brazil, Mexico, Argentina, and Chile, among others.
The technologies of antifreeze are organic acid technology antifreeze (OAT), hybrid organic acid technology (HOAT), and inorganic acid technology antifreeze (IAT).
Antifreeze finds application in automobile, heat transfer and cooling system, aerospace, and others.
The key players in the market include TotalEnergies SE, Roux Industrial Group, Chevron Corporation, Raloy Lubricantes, S.A. de C.V., Shell PLC, Dow Inc., PJSC Lukoil, and Motul S.A., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124