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.
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Download sample copy of research report on Antifreeze Market 2021 spread across 177 pages, profiling 11 companies and supported with 93 tables and 64 figures, now available at www.rnrmarketresearch.com/contacts…ple?rname=430470
North American region leads the antifreeze market for the automotive industry, owing to the higher production and demand for large engine capacity vehicles in this region such as extended cabs. The automotive market in this region is inclined towards SUVs and light trucks, owing to their off-road capabilities and better traction in changing weather conditions.
According to OICA, the light commercial vehicle production in North America increased from 10.4 million units in 2015 to 11.0 million units by 2016 at a rate of 5.7%, which is above the global growth rate of 2.7%. LCVs in North America have a higher antifreeze requirement, as compared to other regions.
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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.
Target Audience Include Antifreeze Market Report:
- Aftermarket Suppliers of Automotive Engine Coolant
- Automotive Antifreeze Producers
- Automotive Engine Coolant Producers
- Automotive Original Equipment Manufacturers (OEM)
- Raw Material Suppliers for Automotive Antifreeze
- Research institutes and Government Organizations
- The automobile industry as an end-use industry and regional automobile associations
- Traders, distributors, and suppliers of minerals (petroleum and bio-based)
“Antifreeze Market” spread across 177 pages, profiling 11 companies and supported with 93 tables and 64 figures is now available at www.rnrmarketresearch.com/contacts/?rname=430470
Top Companies Analyzed for Antifreeze Market are – B.P. PLC. (U.K.), Royal Dutch Shell PLC (Netherlands), Total (France), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), China Petrochemical Corporation (China), BASF SE (Germany), Cummins, Inc.(U.S.), Motul (France), Prestone Products Corporation (U.S.).
Increasing Vehicle Production and Parc Fueling the Oe and Aftermarket for Antifreeze and Engine Coolant
Increasing Sales of Construction Equipment Driving the Demand for Engine Coolant and Antifreeze
Growing Demand of Battery Operated Electric Vehicles
Environment Friendly and Bio Based Coolants and Antifreeze
Engine Downsizing Leading to Decreased Demand for Engine Coolant and Antifreeze
Recycling of Engine Coolant and Antifreeze
Fluctuating Raw Material Price Influencing the Engine Coolant and Antifreeze Market
Disposal of Engine Coolant
Porter’s Five Forces Analysis
Competitive Threat of New Entrants
Threat of Substitutes
Bargaining Power of Suppliers
Bargaining Power of Buyers
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