Antifreeze Market Size, Share and Industry Analysis Report By Product (Ethylene Glycol, Propylene Glycol), By Technology (Inorganic Acid Technology [IAT], Organic Acid Technology [OAT], Hybrid Organic Acid Technology [HOAT]), By Application (Automotive, Aerospace, Industrial Heating/Cooling), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jul 2021  |  Report ID: GMI2203  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 325   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Overview

Antifreeze market size was valued at around USD 4.81 billion in 2020 and will exhibit a growth rate of over 7.4% CAGR from 2021 to 2027. Total market consumption will grow by 6.9% CAGR in terms of volume to reach 2,224.7 Kilo Tons by 2027. Rapid growth of the automotive industry, increasing purchasing power, and changing lifestyles are some of the major factors boosting the demand for antifreeze in emerging economies.
 

Antifreeze is used as an additive for the coolant in the internal combustion of liquid cooled engines that can adjust the freezing & boiling points. These additives are used to prevent the liquid coolant from freezing, which can lead to extensive engine damage. Antifreeze is used as an engine coolant, i.e., to increase the boiling point of water in the engine and to avoid the radiator from being overheated. In the aerospace industry, antifreeze is also used to remove moisture accumulated on aircraft wings, which can create additional weight and unnecessary drag during its take-off.
 

Antifreeze Market Outlook

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The growth of the automobile industry in emerging countries including Asia Pacific and Latin America is rapid due to the improving socio-economic factors and easy loan approvals, which have triggered growth of the automotive industry and is expected to witness similar gains in the coming years. Automobile has an extensive upstream & downstream linkage to diverse industries and sectors.
 

Rapid growth of automotive industry in China and India has enhanced the demand for automotive and automotive coolant, which will make significantly impact the antifreeze market share during the forecast timeframe. Additionally, improving consumer lifestyle and increasing number of international travelers in Asia Pacific has led to rising air traffic, triggering the demand for aircraft. These trends will have positive impacts on the coolants market size over the projected timespan.
 

Strong investments in R&D facilities of the aerospace & defense sector in North America and Europe coupled with rising air traffic will trigger aircraft demand, which will have a positive influence on the product demand, and thus have an increase in the overall antifreeze market in the coming years.
 

Antifreeze is used as an engine coolant, i.e., to increase the boiling point of water in the engine and to avoid the radiator from overheating. In the aerospace industry, antifreeze is also used to remove moisture accumulated on aircraft wings, which can create additional weight and unnecessary drag during its take-off.
 

Rising demand for ethylene glycol will complement industry growth

Antifreeze Market by Product

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Based on type, the antifreeze market is classified into ethylene glycol, propylene glycol, and others. In 2020, the ethylene glycol product segment accounted for the major share of the market of around 51.8% in terms of value. Ethylene glycol is widely applicable as an antifreeze in automobile engines and an industrial solvent. Upon the addition of ethylene glycol to water, raises the boiling point of water as well as lowers the freezing point of water. The product possesses a boiling point of 387°F (197.3°C) and freezing point of 9°F (12.9°C), which makes it suitable for use as a coolant in the automotive industry to maintain the vehicle engine at optimum temperature.
 

Propylene glycol is expected to grow at a CAGR of 7.5% through 2027. Propylene glycol is a relatively safe chemical used in industrial & consumer applications. Its mixture with water is termed as low-temperature transfer fluids. They are less toxic as compared to ethylene glycol and are therefore favored for many applications, mainly when human exposure can occur.
 

The increasing adoption of Organic Acid Technology (OAT) will boost the antifreeze market share

Antifreeze Market by Technology

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The OAT segment accounted for the highest share and generated a revenue of over USD 3.19 billion in 2020. OAT does not contain phosphate or silicates instead it contains sebacate, 2-ethylhexanoic, and other organic acids. They are nitrite-free, increasing their service cycle. Additionally, they have neutral inorganic salts and acids, which get degraded without affecting the environment. Due to stringent environmental regulations in North America and Europe, the use of IATs has lowered while the use of OATs has gone up in the past few years. The global demand for OAT will increase due to its environmental-friendly nature and longer replacement cycle.
 

The increasing demand for antifreeze in the automotive industry will boost the business growth

The automotive application segment will account for over 65% of the total antifreeze market share in 2027. It is commonly utilized in the automotive industry to maintain optimum temperature inside the engine of vehicle by reducing excess temperature, which is produced when it runs and thus, avoiding severe damage to its internal component. The product possesses chemical inertness, excellent thermal capacity, low viscosity, non-toxic properties, and anti-corrosive, making it suitable for automotive applications.
 

Asia Pacific to witness significant growth during the forecast period

Antifreeze Market by Region

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The Asia Pacific market size was over USD 2.17 billion in 2020. The growth in the region is mainly driven by upsurge in the automotive, aerospace, and industrial sectors. The rising aerospace industry in the region is mainly driven by the improved consumer spending power, and increased air traffic in the region, driving aircraft manufacturing in the near future.
 

Product expansion is one of the major strategic outlooks of the overall industry

Market players are majorly focusing on making investments in R&D to expand their product portfolio and attain a competitive edge over its competitors globally. Furthermore, easy availability of raw materials used in antifreeze manufacturing increases the threat of new entrants. New product development, strategic alliances, and enhancement of the product landscape are the key initiatives in the global antifreeze market.
 

Major players are expanding their presence in emerging economies to cater to the increasing demand for antifreeze. Some of the key manufacturers include in the antifreeze industry are Chevron Philips Chemical Co., Royal Dutch Shell, Kost USA, Total S.A., Exxon Mobil Corporation, Ashland Inc., PETRONAS, Castrol, BASF SE, Dow Chemicals, Sinopec Corporation, and DuPont.
 

The antifreeze market report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD billion from 2017 to 2027 for the following segments:

By Product

  • Ethylene glycol
  • Propylene glycol
  • Others

By Technology

  • Inorganic Acid Technology (IAT)
  • Organic Acid Technology (OAT)
  • Hybrid Organic Acid Technology (HOAT)

By Application

  • Automotive
  • Aerospace
  • Industrial heating/cooling
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Denmark
    • Ireland
    • Netherlands
    • Sweden
    • Switzerland
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Oman
    • Saudi Arabia
    • UAE
    • Egypt
    • Rest of MEA
       

Frequently Asked Questions (FAQ) :

The antifreeze industry size was valued at around USD 4.81 billion in 2020 and is expected to hit a 7.4% CAGR through 2027.
The ethylene glycol product segment was responsible for an antifreeze market share of close to 51.8% in 2020 and will grow substantially with the higher usage in automobile engines.
The market revenue from the OAT technology segment reached more than USD 3.19 billion in 2020 and will grow with the increasing need for environmental-friendly characteristics and longer replacement cycles.
Automotive applications are expected to hold more than 65% of the total market share by 2027 owing to extensive product adoption to maintain the optimum temperature inside the vehicle engines.
The Asia Pacific market exceeded USD 2.17 billion in 2020 and will expand at a robust pace due to the proliferating automotive, aerospace, and industrial sectors in the region.

Premium Report Details

  • Published Date: Jul 2021
  • Pages: 325
  • Tables: 420
  • Charts / Figures: 40
  • Companies covered: 21
  • Countries covered: 28

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