Antifreeze Market Report

Antifreeze Market Analysis, By Product (Ethylene Glycol, Propylene Glycol, Glycerin), By Technology (OAT, IAT, HOAT), By Application (Automotive, Aerospace, Industrial) And Segment Forecasts, 2014 - 2025

Published: August 2017  |  117 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-600-4

Industry Insights

The global antifreeze market size was valued at USD 4.99 billion in 2016. The market is expected to show immense growth over the forecast period owing to the rising automotive sector in emerging economies including India, Mexico, China, Indonesia and South Korea. Rising usage of antifreeze in heat transfer applications and to prevent engine freezing at low temperatures is expected to drive market demand.

The increasing requirement for protection against corrosion & freezing and effective heat dissipation is likely to fuel the demand. In addition, continuous investments in R&D for the development of efficient, cost effective, environment friendly and low toxic products with a high shelf life by various manufacturers including BP, Shell and Chevron is expected to create immense market potential over the forecast period.

U.S. antifreeze market, by application, 2014 - 2025 (Million Gallons)

U.S. antifreeze market

Asia Pacific is expected to experience a significant growth over the forecast period owing to the growing demand for passenger cars and light weight commercial vehicles in countries including India, Indonesia, Japan and China. Moreover, prevalence of major automotive manufacturers in the region including Nissan Motor company, Toyota Industries and Komatsu along with increasing government spending in India and China will create immense market potential over the upcoming years.

Growing electric vehicles sales in China owing to the government subsidies and the presence of major players including Beijing Electric Vehicle Co, Hangzhou Changjiang Passenger Vehicle Co and BYD Auto Ltd will further accelerate the coolants demand over the forecast period.

The easy and abundant availability of various raw materials including ethylene glycol, propylene glycol and glycerin in India, China and US will drive the demand over the forecast period. In addition, the increasing demand in Europe and North America owing to the adverse cold weather conditions is expected to further propel coolants industry size. However, the fluctuation in raw material price and the regulations on recycling & disposal of these products is likely to hinder the industry growth over the upcoming years.

Application Insights

Automotive was the prominent segment and was valued at USD 2.94 Billion in 2016. The increasing usage of antifreeze in HVAC (heating, ventilation and cooling) for automotive and industrial sector is expected to fuel industry expansion. In addition, factors including favorable government initiatives, rising disposable income, changing lifestyle and rapid urbanization will further propel market growth over the next eight years.

The aerospace and defense sector is expected to witness a significant revenue growth at a CAGR of 6.2% from 2017 to 2025 owing to the immense investments made in aerospace R&D and presence of abundant players in countries including Germany, France, UK, Sweden and Poland. Furthermore, growing commercial aerospace subsector owing to the accelerated equipment replacement cycle and the increase in passenger travel demand is expected to fuel industry growth.

Product Insights

Ethylene Glycol based antifreeze were the dominant product segment and accounted for 59% of the total volume market share in 2016. The rising usage of ethylene glycol in deicing, prevention of radiator overheating, protection against radiator freezing and hydraulic brakes are expected to drive the market demand. In addition, increasing usage as a heat conductor in heating & cooling systems is likely to further fuel the market growth.

However, the demand for these products are likely to grow at a slower pace over the forecast period as a result of the stringent regulatory framework regarding coolant disposal & recycling, toxicity, high rate of degradation, corrosive properties and high cost of storage & handling.

Global antifreeze market, by product 2016 (%)

Global antifreeze market

Propylene glycol is expected to witness the fastest growth over the forecast period owing to non-toxicity, high compatibility & low cost as compared to the conventional ethylene glycol.Advancements in processing technologies and stringent regulations promoting the substitution of toxic compounds are expected to propel propylene glycol demand over the forecast period.

The glycerine based antifreeze market is likely to revive owing to the increasing demand for environment friendly antifreeze with lower toxicity and cost efficiency. In addition, the ASTM standards promoting the use of glycerine in antifreeze coupled with stringent regulations on toxic compounds including ethylene glycol are expected to drive the demand for glycerine based antifreeze.

Technological Insights

Organic acid technology (OAT) accounted for over 49% of the global volume share in 2015.The OAT is expected to witness the maximum growth over the forecast period owing to presence of environment friendly, easily decomposable neutralized inorganic salts and acids. In addition, the extended drain interval of OAT is expected to further propel market growth.

The HOAT market is expected to witness a significant demand over the forecast period owing to its extended life time and efficient corrosion inhibition. In addition, the excellent coolant to coolant compatibility (can be used as a top up for both IAT and OAT antifreeze) and the rising usage of HOAT as factory fill by automotive OEM’s including Mercedes, BMW, Mini Cooper and Volvo along with increasing demand in general aftermarket coolant is expected to augment market growth.

Regional Insights

Asia Pacific accounted for the largest share in 2015 and is anticipated to show substantial growth considering increasing demand for passenger cars and light commercial vehicles mainly in China and India.

In addition, rising automotive sector in various countries including India, China, Indonesia and Thailand coupled with improving standard of living, consumer awareness levels, and rising disposable income will promote growth over the forecast period. Furthermore, increasing sale of electric vehicles along with rising investments in R&D for hybrid vehicles is expected to open new growth avenues.

North America is the second largest market for antifreeze. North America is expected to show a steady growth over the forecast period owing to the increasing automotive manufacturing in countries including Mexico, Canada and U.S. In addition, the increasing production of light and heavy duty commercial vehicles is expected to drive coolant market growth.

The European market is expected to witness a steady growth over the forecast period owing to the increasing automotive manufacturing and aerospace sector. Rising demand for light and heavy commercial vehicles across Europe for freight transportation will fuel the demand for heavy duty antifreeze.

Competitive Insights

The global antifreeze market is highly concentrated in nature. The market comprises of prominent and well-established players who collectively captured the larger portion of the industry in 2016.The market is highly competitive with all the major players continuously investing heavily on R&D and capacity expansion. The major manufacturers include BP PLC, Royal Dutch Shell, Exxon Mobil, Chevron, Total, BASF SE, DOW Chemicals, Old world industries, Prestone and Amsoil

In March 2016, China CSPC petrochemicals expansion project, Shell Nanhai BV and China National Offshore Oil Corporation announced its investment decision to expand CSPC. Shell plans to implement its OMEGA, Polyols and SMPO technologies to expand the production to 600,000 tpa of high quality polyols, 480,000 tpa ethylene glycol and 150,000 tpa of ethylene oxide.

In May 2016, KOST USA started manufacturing the STP line of automotive and heavy-duty antifreeze/coolants. This will enable the company to penetrate the heavy-duty antifreeze/coolants market and increase its overall share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, China, Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments covered in the report

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global antifreeze market on the basis of product, application and region:

  • Product Outlook (Revenue (USD Million), Volume (Million Gallons), 2014 - 2025)

    • Ethylene Glycol

    • Propylene Glycol

    • Glycerin

  • Application Outlook (Revenue (USD Million), Volume (Million Gallons), 2014 - 2025)

    • Automotive

    • Aerospace

    • Industrial heat transfer and cooling applications

  • Technology Outlook (Revenue (USD Million), Volume (Million Gallons), 2014 - 2025)

    • OAT

    • HOAT

    • IAT

  • Regional Outlook (Revenue (USD Million), Volume (Million Gallons), 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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