Global Antifreeze Market 2017-2021

Overview of the global antifreeze market

Automotive industries extensively utilize antifreeze agents as coolants as they protect the vehicle engines from damage caused by freezing. Technavio's market study identifies increasing demand for antifreeze agents in automobiles as one of the primary growth factors for the antifreeze market. Antifreeze agents serves several benefits such as it acts as heat-transfer fluid, they contain chemical which prevents corrosion and formation of scales, prevent water from boiling when the exterior temperature is high, and due to its lubricating properties, antifreeze agents do not evaporate easily like water. These characteristics are increasing the demand for antifreeze agents in the automobile industries. Our market research analysts estimate that this market will grow steadily at a CAGR of almost 8% by 2021.

Rising consumption of glycerin is identified to be one of the key trends contributing towards the growth of the antifreeze market. Glycerin and matter organic non-glycerin (MONG) is a by-product of biodiesel and (MONG) can be processed and filtered into products such as fatty acids and glycerin. Glycerin as an antifreeze is recognized as a safer agent as compared to ethylene glycol. With the increasing popularity and adoption of glycerin as an antifreeze agent, it will boost the antifreeze market during the forecast period.

Competitive landscape and key vendors

The competition in the antifreeze agents market is high due to the presence of several established and regional players. These players primarily compete on R&D and launch of innovative products. The major challenge for these players is the fluctuation in raw material prices and issues pertaining to sourcing. Key players are investing heavily in R&D to develop new products and differentiate their product ranges from other competitors and in this way intensifying the market.

The leading vendors in the market are-

• BP
• BASF
• Exxon Mobil
• Royal Dutch Shell
• Total

The other prominent vendors in the market are Chevron, Cummins, Glyeco, Houghton International, KOST USA, LUKOIL, Motul, PETROLIAM NASIONAL BERHAD (PETRONAS), Prestone Products, Recochem, The Dow Chemical Company, and Valvoline. 

Segmentation by product type and analysis of the antifreeze market

• Ethylene glycol
• Propylene glycol

Ethylene glycol segment accounts for the major shares of the antifreeze agents market in terms of revenue. However, our analysts estimate that due to the toxic nature of ethylene glycol, there will be slight decrease in the market share which in turn will increase the propylene market share during the forecast period.

Segmentation by geography and analysis of the antifreeze market

• APAC
• Europe
• North America
• ROW

The market study estimates that in terms of geographic regions, North America will be the major revenue contributor to the antifreeze agents market throughout the forecast period. Owing to rising demand for automobiles will increase the demand for antifreeze agents. Moreover, with the growing consumer awareness, the importance of antifreeze agents will inevitably boost the growth of this market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global antifreeze market?
• What are the key market trends impacting the growth of the global antifreeze market?
• What are the challenges to global antifreeze market growth?
• Who are the key vendors in the market?
• What are the market opportunities and threats faced by the vendors in the global antifreeze market?
• Trending factors influencing the market shares of the APAC, North America, Europe, and ROW.
• What are the key outcomes of the five forces analysis of the global antifreeze market?

Technavio also offers customization on reports based on specific client requirement.

To help clients gain market dominance, this market research report on the antifreeze market covers vendors like Exxon Mobil Corporation, Total, and Royal Dutch Shell PLC. It has been observed that the exponential increase in the number of vehicles is directly correlated to the growth of the antifreeze market. Furthermore, to present clients the scope to identify potential market opportunities and expand in niche markets, this report on the antifreeze market also covers geographies like APAC, Europe, North America, and ROW.    

Technavio's industry report on antifreeze market focuses on the key trends and drivers stimulating the growth of the chemicals and materials industry. Technavio's analysts follow a blended research methodology comprising of quantitative and qualitative data collection methods and supported by multiple analytical tools to precisely predict the growth prospects of related sectors such as specialty chemicals.

The upcoming industry research report for the antifreeze market distinctly focuses on various drivers, trends, and restraints that are expected to impact the growth of this market during the forecast period. This report on the antifreeze market also presents insights into the rapidly changing competitive landscape to give clients an overview of the forthcoming events within the chemicals and materials industry. Technavio also offers in-depth market assessments into the sectors such as additives, adhesives, and sealants, paints, coatings, and pigments and olefins. 

Our market research methodology for the antifreeze market

Technavio also presents businesses with the opportunity to customize every report to suit their specific requirements and offers attractive discounts on all forthcoming reports and future purchases.