Automotive Antifreeze Market

Global Automotive Antifreeze Market Outlook

The global automotive antifreeze market is estimated at USD 5.8 Billion in 2022 and is forecast to surpass USD 11.1 Billion by 2032, growing at a CAGR of 6.7% from 2022 to 2032.

Report Attributes	Details
Base Year Value (2021A)	USD 5.4 Billion
Estimated Year Value (2022E)	USD 5.8 Billion
Projected Year Value (2032F)	USD 11.1 Billion
Global Growth Rate (2022-2032)	CAGR 6.7%
North America Market Share in 2021	~26%
North America Growth Rate (2022-2032)	CAGR ~6.9%
Collective Value Share (US, China, India) 2022: Top 3 Countries	~36%
Top 5 Companies Market Share in 2021	~19%
Key Companies Profiled	Valvoline International Inc. BP Plc Chevron Corporation Exxon Mobil Corporation Fuchs Petrolub SE KOST USA Inc. Prestone Products Corporation Recochem Inc. Rock Oil Company Total S.A Other Market Players

The global automotive antifreeze market accounts for ~23% of the global antifreeze market in 2021. The global automotive antifreeze market is likely to create an absolute $ opportunity of USD 5.3 Billion during the years of 2022-2032. 

2017-2021 Global Automotive Antifreeze Market Outlook in Comparison to 2022-2032 Growth Forecast

The market growth trajectory of the automotive antifreeze market is being driven by factors such as rise in vehicle production, the preference for automobile maintenance, sales of vehicles etc. Manufacturers in the automotive antifreeze market are focusing on innovation and development of products to gain wider consumer confidence to maintain their edge over competitors.

With the rise in demand for high-performance trucks and cars, the need for proper maintenance of engine is likely to propel. In order to have an optimal engine efficiency, the demand for organic acid technology is rising for the need for an effective cooling system.

The use of high-quality technologically advance additive supplements and high-performance vehicles is to support market growth by ~24% of current levels in coming years. Additionally, the availability of bio-based coolants and environment friendly coolants, and antifreeze supplements is supporting market demand.

Additionally, the easy availability of materials such as propylene glycol, ethylene glycol, glycerine etc. in developed countries is providing lucrative opportunities for new entrants to develop automotive antifreeze, therefore supporting market growth by 1/5th in coming years.

Fact.MR projects the automotive antifreeze market is expected to witness exhibiting growth at 6.7% CAGR during 2022 and 2032 in comparison to a CAGR of 4.7% with which it grew from 2017 and 2021.

Properties of Propylene Glycol to Support Market Growth

The demand for propylene glycol based antifreeze is being driven by the adoption of inorganic acid technology. Ethylene glycol is no doubt, another sought after product by the automakers, however, high cost of handling, stringent regulatory framework, toxicity, corrosive properties etc. have shifter manufacturers to prefer propylene glycol based automotive antifreeze. This is estimated to support market growth by ~17% of current levels in coming years.

Moreover, favorable regulatory framework for substitution of toxic compounds, coupled with developments in processing technologies etc. are further fueling automotive antifreeze market demand, estimated to provide enhanced market growth by 1.2X during the forecast years.

High-Performance Lubricants to Propel Market for Automotive Antifreeze

The changing environmental regulations to reduce carbon footprints has led to the inception of high-performance lubrication leading to high-performance and enhanced fuel efficiency of the vehicles. Automotive antifreeze is added in high-performance lubricants to protect them from freezing which enhances the durability of engine operations. This is estimated to provide a gain of 240 BPS to the automotive antifreeze market in coming years. Key players in the market are focusing on new product launch strategies and geographic expansion to maintain market sustainability.

Enhanced Preference for Bio-Based Automotive Antifreeze to Support Market Demand

Antifreeze poisoning leads to adverse effects of automotive antifreeze. The prolonged exposure to automotive antifreeze can cause poisoning not only in humans but also have toxic influence on small animals. Government in multiple countries are taking disciplinary actions to offset harmful effects which causes potential harm to the environment as they cause potential harm to water resources.

Therefore, the manufacturers of automotive antifreeze market are incorporating bio-based antifreeze in different lubricant formulation to meet the standards put forth by multiple government bodies. Consumers are increasingly preferring bio-based automotive antifreeze owing to its environment-friendly and biodegradable nature. This is therefore, expected to propel market demand by 1.4X during the forecast years of 2022-2032.

Growing Demand for Electric Vehicles to Restraint Market Growth

The rising environmental concerns has led to the development of alternate technologies. One such step is the introduction of battery electric vehicles which operate on batteries and control units which by nullifying emissions also enhances vehicular performance. They do not require the application of internal combustion engine, thereby eliminating use of coolants. This is therefore estimated to restrict market growth by 0.8X in coming years.

Region-wise Insights

Which region accounts for more enhanced demand for Automotive Antifreeze Market?

North America automotive antifreeze market accounts for the largest market share of 25.7%. The region witnesses higher production and demand for large engine capacity vehicles, owing to off-road capabilities and changes in weather conditions. Moreover, key players in the region are making substantial investments in infrastructure, new production facilities, and in research and developmental activities. Therefore, the region is projected to grow at a CAGR of 6.9% during the forecast years.

What is the market scenario in East Asia and South Asia & Oceania Automotive Antifreeze Market?

East Asia and South Asia & Oceania automotive antifreeze market contributes 20.9% and 19.7% to the overall market share and holds 40.6% of the overall automotive antifreeze market together. The higher growth is attributed to the rising vehicle production using antifreeze for cooling the engine. Moreover, the booming construction industry related to construction projects, commercialization, in developing countries in these regions is supporting market growth. The South Asia & Oceania and East Asia automotive antifreeze market is projected to grow at a CAGR of 7.2% and 7.5% during the forecast years of 2022-2032.

Category-wise Insights

Which product type is estimated to support market growth in the Automotive Antifreeze Market during the forecast period?

The automotive antifreeze are available in different product types such as ethylene glycol, propylene glycol, and glycerine. Amongst them, the propylene glycol automotive antifreeze accounts for 39.3% of the global automotive antifreeze market share. This segment is projected to grow at a CAGR of 7.1% during the assessment period. This is due to the low cost, higher compatibility, and non-toxicity property of propylene glycol, which is highly sought after by the manufacturers. The propylene glycol is one of chief component based on inorganic acid technology used in the cooling system for use in yellow, green, and blue antifreeze.

Which technology segment is the largest contributor in market share and will dominate the Automotive Antifreeze Market during forecast period?

The organic acid technology based automotive antifreeze holds for 37.8% of the overall market share. The segment is projected to grow at a CAGR of 6.9% during the assessment period. The segment is likely to maintain its dominance in the coming years as it does not uses silicates, thereby enabling longer service life, thereby driving the market growth.

Competitive Landscape: Top Companies in Automotive Antifreeze Market

The global automotive antifreeze market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced automotive antifreeze.

Fact.MR has provided detailed information about price points of key manufacturers in automotive antifreeze market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

1. Castrol in 2021 launched an advanced new ‘direct’ battery e-thermal fluid, Castrol ON, enabling future generations of electric vehicles to charge faster and provide enhanced performance, sustainability and protection
2. Valvoline International Inc. in 2021 launched new coolants technology for modern engines and it also acquired 16 service centers in Texas as a part of expansion plan of Quick-Lube Network

Global Automotive Antifreeze Market by Category

• By Product Type, Global Automotive Antifreeze Market is segmented as:

  • Ethylene Glycol
  • Propylene Glycol
  • Glycerine

• By Technology, Global Automotive Antifreeze Market is segmented as:

  • Organic Acid Technology
  • Inorganic Acid Technology
  • Hybrid Acid Technology

• By Vehicle Type, Global Automotive Antifreeze Market is segmented as:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Construction Vehicles

• By Sales Channel, Global Automotive Antifreeze Market is segmented as:

  • OEM
  • Aftermarket

• By Region, Global Automotive Antifreeze Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA