Learn details of the Size, Trends, Growth - Industry Research Report 2021
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The antifreeze market for original equipment is projected to grow at a CAGR of 5.18% from 2016 to 2021, to reach a market size of USD 885.1million by 2021. According to the Organization International des Constructeurs d'Automobiles (OICA), the global vehicle production in 2015 was ~92 million units and is projected to grow to ~125 million units by 2021, at a CAGR of 5.40% from 2016 to 2021.
This growth in vehicle production can be attributed to rising per capita income, increased preference for personal transport, and improved infrastructure. The growth of the automotive engine coolant market is directly linked to the rising vehicle production.
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However, the impact of this growth is expected to be low for the next five years.
According to OICA, the production of passenger cars around the globe has grown from 68.6 million units in 2015 to 72.1 million units in 2016at a rate of 5.1%. The increased sales of passenger cars are due to the improved standard of living and rise in per capita income in various countries.
According to Trading Economics statistics, the U.S. GDP per capita increased from USD 50,727.8 in 2014 to USD 51,638.1 in 2015, which led to increased purchasing capabilities of consumers.
Thus, the sales and production of passenger cars are increasing and leading to increased demand for engine coolant and antifreeze.
Antifreeze base fluids are toxic in nature. This has compelled manufacturers to switch to less toxic alternatives.
glycols used for antifreeze are manufactured from crude oil filtration, which may lead to a higher demand for fossil fuels such as crude oil and can have a negative impact on the environment. Hence, bio-based options such as glycerin are getting recognized in the market for their environment-friendly nature.
This bio-based antifreeze is manufactured from materials such as corn, stover, and other oil bearing resources. Manufacturers are venturing into this market with products such as the Sunterra brand of DuPont Tate & Lyle Bio Products (U.S.), which is produced using a bio-based glycol named 1, 3-Propanediol (PDO).
This glycol is completely manufactured using renewable and bio-based materials and is suitable for passenger cars and other light and heavy duty vehicles.
Key Points From Table Of Content:
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Increasing Vehicle Production and Parc Fueling the Oe and Aftermarket for Antifreeze and Engine Coolant
220.127.116.11 Increasing Sales of Construction Equipment Driving the Demand for Engine Coolant and Antifreeze
18.104.22.168 Growing Demand of Battery Operated Electric Vehicles
22.214.171.124 Environment Friendly and Bio Based Coolants and Antifreeze
126.96.36.199 Engine Downsizing Leading to Decreased Demand for Engine Coolant and Antifreeze
188.8.131.52 Recycling of Engine Coolant and Antifreeze
184.108.40.206 Fluctuating Raw Material Price Influencing the Engine Coolant and Antifreeze Market
5.3 Burning Issue
5.3.1 Disposal of Engine Coolant
5.4 Porter’s Five Forces Analysis
5.4.1 Competitive Rivalry
5.4.2 Competitive Threat of New Entrants
5.4.3 Threat of Substitutes
5.4.4 Bargaining Power of Suppliers
5.4.5 Bargaining Power of Buyers
12 Company Profiles
(Business Overview, Key Insights, Recent Developments, MnM View)*
12.2 BP P.L.C.
12.3 Royal Dutch Shell PLC
12.5 Chevron Corporation
12.6 Exxon Mobil Corporation
12.7 China Petrochemical Corporation
12.8 BASF SE
12.9 Cummins Inc.
12.11 Prestone Products Corporation
The report provides a picture of the antifreeze market across different verticals and regions for the automotive and off-highway industry. It aims at estimating the market size and future growth potential of the antifreeze OE by vehicle type, product, additive technology, construction equipment engine coolant OE market by application, and engine coolant aftermarket by additive technology and region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
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