Market Research Future published a research report on “Automotive Coolant Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India -- (SBWIRE) -- 01/11/2018 -- Global Automotive Coolant Market Information Report, By Product Type (Ethylene Glycol, Propylene Glycol and Glycerin), By Technology (Inorganic Acid, Organic Acid and Hybrid Organic Acid), by Vehicle Type (Passenger Vehicles and Commercial Vehicles), by End Market (OEMs and Aftermarket) and By Region - Global Forecast To 2023
The global automotive coolant market has experienced a remarkable growth over the past few years, and it has been expected that the global market will retain the same growth status during the forecast period.
As per MRFR analysis, the global automotive coolant market is expected to grow at the ~7.65% CAGR, during the forecast period.
Automotive coolant is a substance, which flows in the automotive engine in the form of liquid or gas to remove excess heat from the engine and keeps it cool. Coolants are used in almost all automobiles, from small engine to heavy engine vehicles. Also, the coolant helps in maintaining the fuel consumption rate and enhance the average per mile. The global automotive coolant market is largely benefiting by the rise in the number of both passenger and commercial vehicles. During the last couple of years, the demand of passenger vehicles such as, cars, vans, SUVs, two wheelers and three wheelers, have grown at a rapid pace. Additionally, the sales of commercial vehicles have also mounted. Owing to these factors, the demand for coolants in automotive is likely to increase in the future. Other factors that are helping in driving the global market are stringent regulatory framework with respect to antifreeze disposal & recycling by the government, which has also propelled the manufacturers to adopt coolants in automotive industry. Moreover, regulations from Department of Environmental Quality, and latest standards from ASTM International have also boosted the demand for coolants in automotive industry. On the other hand, the fluctuating prices of coolant raw materials, and limitations in extremely frigid temperatures, hinder the growth of coolant market. Furthermore, the rising adoption of propylene glycol-based coolants in automotive, has become a major market trend.
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For the purpose of this study, the global automotive coolant market has been divided, based on product type, technology, vehicle types, end market and regions. On the basis of product type, the market has been segmented as ethylene glycol, propylene glycol and glycerin. The technology segment has been segmented as inorganic acid, organic acid and hybrid organic acid. On the basis of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. The end market segments are OEMs and aftermarket.
Based on regions, the global automotive coolant market has been divided as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has accounted for the largest market share, in 2016, followed by North America and Europe. In Asia Pacific, countries such as China, India, Japan, and Indonesia consume the highest number of passenger vehicles and commercial vehicles. As a result, the demand in these countries, is very high. North America is the second leading region for automotive coolants. Presence of a large number of manufacturers, and growing registration of new vehicles, have driven the market. In Europe, it has been observed that, there has been a rise in sales of new vehicles and used vehicles, which has augmented the demand for automotive coolants. Germany, UK and France are the leading countries in Europe, which have fuelled the growth of the market.
The prominent players in the automotive coolant market include Total S.A (France), Castrol Limited (UK), Exxon Mobil Corp (US), Royal Dutch Shell plc (Netherlands), Sinopec Lubricant Company (China), Ashland (US), Sinclair Oil Corporation (US), Havoline (US), Chevron Corporation (US) and British Petroleum (UK).
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Scope of the Report:
This study provides an overview of the global Automotive Coolant market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Coolant market by product type, technology, vehicle type, end market and regions.
By Product Type
- Ethylene Glycol
- Propylene Glycol
- Inorganic Acid
- Organic Acid
- Hybrid Organic Acid
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By End Market
- North America
- Asia Pacific
- Rest of the World
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