Antifreeze Market worth 885.1 Million USD by 2021

The report  Antifreeze Market  by Vehicle Type, Product (Ethylene Glycol, Propylene Glycol & Glycerine), Engine Coolant Additive Technology OE & Aftermarket (IAT, OAT, & HOAT), & Coolant Market by Application – Forecast to 2021 „ , The antifreeze market for original equipment is projected to grow at a CAGR of 5.18% during the forecast period, to reach a market size of USD 885.1 million by the 2021st

Browse 93 market data tables and 64 figures spread through 177 pages and in-depth TOC on  „Antifreeze Market by Vehicle Type, Product (Ethylene Glycol, Propylene Glycol & Glycerin), Engine Coolant Additive Technology OE & Aftermarket (IAT, OAT, & HOAT ), & Region and Construction Equipment Engine Coolant Market by Application – Forecast to 2021 “ Early buyers will receive 10% customization on reports.

The antifreeze market is driven by increasing vehicle sales and production across the globe. These include vehicles from different segments such as Pickup Trucks, Sports Utility Vehicles (SUV), andMulti PurposeVehicles (MPV), which have a large engine size as compared to sedans or hatchbacks. The aftermarket for antifreeze is fueled by the increase in vehicle as well as increased miles per year per country.

„Passenger cars to the largest vehicle type in the antifreeze market OE“

Passenger cars are expected to dominate the antifreeze market for OE. According to Organization Internationale des Constructeurs d’Automobiles (OICA), from 55.6 million units in 2010 to 66.3 million units in 2015. The average amount of engine coolant required in passenger cars, can range from 1 to 5 gallons. The amount of antifreeze present in the field of engineering varies according to temperature zones and OE recommendations. An increase in sales results in a corresponding increase in vehicle parc of passenger cars. The same publication from OICA states that the number of passenger cars and commercial vehicles on the road were 919.0 million units and 321.3 million units in 2015, respectively. As the number of passenger cars on the road is higher than commercial vehicles,

„OAT to be the fastest growing segment in the antifreeze market, by technology“

Organic Acid Technology (OAT) is estimated to witness the highest growth in the global antifreeze market. The growth of this technology is due to the presence of neutralized inorganic salts and acids, which can be decomposed without impacting the environment.OAT basedantifreeze has the maximum presence in North American and European regions, where the usage of IAT based technology has declined significantly owing to its toxic nature. The OAT based antifreeze is projected to grow the life of the OAT based antifreeze, as compared to IAT based antifreeze.

„Antifreeze market of North America to grow to the highest CAGR during the forecast period“

North America is estimated to dominate the antifreeze market for OE. The growth of this market can be attributed to the higher production and demand for large engine capacity vehicles in this region. The production of light commercial vehicles (LCV) in North America increased to 11.0 million units in 2016, with a year-over-year growth rate of 5.7%, according to OICA. This is the highest production of LCVs across all regions. So, LCVs in North America have a higher antifreeze requirement of around 7-8 liters, which is ~ 42% higherthanother regions. Search factors would contribute to the growth of the antifreeze market in the region.

The antifreeze market is dominated by a few global players and several regional players. Some of the key manufacturers operating in the market are BP PLC (UK), Royal Dutch Shell PLC (Netherlands), Total (France), Chevron Corporation (US), and Exxon Mobil Corporation (US). The key innovators gaining attention in the antifreeze market include DuPont Tate & Lyle Bio Products (US), Recochem, Inc. (Canada), and Evans Cooling Systems, Inc. (US).

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