The global antifreeze market is expected to
reach USD 8.76 billion by 2025, according to a new report by Grand View
Research, Inc. Growing automotive sector in emerging economies including China,
India, Indonesia, South Korea and Mexico is expected to drive market demand.
Rising concerns in protecting
automotive engines and radiators against overheating, freezing and corrosion is
expected to drive the demand for antifreeze. Increasing demand for passenger
cars & light weight commercial vehicles in China & India coupled with favorable
government policies on automotive development and manufacturing is expected to
create immense market potential.
Organic acid technology (OAT)
accounted for over 51% of the global volume share in 2016. High demand for
coolants based on minimally depleting carboxylate technology as substitutes for
conventional antifreeze based on silicates, nitrates, phosphates and amines is
expected to translate into rapid industry growth over the forecast period.
Aerospace accounted for the
second largest application sector. Growing commercial aerospace subsector
coupled with increasing defense budgets by countries including UK, Middle
Eastern Countries, Japan, France, India and China will promote industry growth.
Browse full research report on Global
Antifreeze Market: http://www.grandviewresearch.com/industry-analysis/antifreeze-market
Further key findings from the report suggest:
- Ethylene Glycol based antifreeze were the dominant product segment and accounted for 54.7% of the total market share in 2016 owing to increasing usage in deicing, prevention of radiator overheating and protection against radiator freezing.
- Asia Pacific accounted for the largest share in 2016 and is anticipated to show substantial growth considering increasing demand for passenger cars and light commercial vehicles mainly in China and India.
- The European aerospace market is expected to witness the maximum growth owing to the immense investments made in aerospace R&D and presence of abundant players in countries including Germany, France, UK, Sweden and Poland.
- In March 2015, Rechochem launched HD diesel coolants for high heat engines. The company plans on expanding its existent diesel coolant product line by introducing new products using the RECO Blue technology so as to meet the demand and product specifications.
- The industrial heat transfer and cooling system on HVAC equipment market is expected to grow significantly over the forecast period owing to the increasing demand in end use industries including residential, industrial, commercial and automotive. This will drive the demand for antifreeze in HVAC equipment.
- Stringent regulatory framework regarding antifreeze disposal & recycling has compelled manufacturers to adopt environment-friendly, sustainable materials & products in the automotive industry.
- The presence of major players in the market including Royal Dutch Shell, ExxonMobil Corporation, Chevron Philips Corporation, Sinopec, Total S.A., Kost USA, Motul, Ashland Corporation, British Petroleum PLC., Lukoil, Petronas, BASF, Duetsche Pentosin and SONAX is expected to augment industry size.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/advanced-materials
Grand View Research has segmented
the global antifreeze market on the basis of product, technology, application,
and region:
Product Outlook (Volume, Million Gallons; Revenue, USD
Million, 2014 - 2025)
- Ethylene Glycol Based
- Propylene Glycol Based
- Glycerin Based
Technological Outlook (Volume, Million Gallons; Revenue,
USD Million, 2014 - 2025)
- OAT (Organic Acid Technology)
- IAT (Inorganic Acid Technology)
- HOAT (Hybrid Organic Acid Technology)
Application Outlook (Volume, Million Gallons; Revenue,
USD Million, 2014 - 2025)
- Automotive
- Aerospace
- Industrial heat transfer and cooling systems
Regional Outlook (Volume, Million Gallons; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
No comments:
Post a Comment