Sellbyville, DE -- (SBWIRE) -- 05/17/2019 -- Endorsed by the rapidly growing automotive sector and the strong commercial air traffic flow across major geographies, antifreeze market has indeed accomplished appreciable gains in the recent years. Colloquially known as coolant, antifreeze is popularly used in automotive and aerospace engines for maintaining the overall engine temperature of the vehicle and its cooling system depending upon the atmospheric temperature.

Using antifreeze efficiently helps to majorly enhance the engine performance, on the grounds of which many automakers have been giving extensive preference for the product to prevent freezing in the cooling engine of the automobile at a sub-zero temperature. Anti-freeze not only prevents corrosion and scale formation in the engine but also helps to improve its capability to transfer heat. Consequently, major antifreeze industry giants have been continuously enhancing their product efficiency and applicability. In fact, increasing popularity of engine cooling agents among several automakers has been primarily forecast to boost antifreeze market share over the years ahead.

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According to a new research report by Global Market Insights, Inc. Antifreeze Market is likely to surpass USD 7.5 billion by 2024

Considering the customer's requirement for internal coolants with a long shelf life, many players in antifreeze market are constantly looking forward to introducing the best products that boast of very high performance. In addition, with the rapid change in engine technology, most companies have been developing new products keeping in mind the future demand of engine maintenance. The initiatives taken by Shell lubricants to expand its portfolio is one of the recent examples of a customer-centric product advancement carried out by giants in antifreeze market.

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The new launch – Shell Rotella Extended Life Coolant – Nitrite Free (ELC NF) joins Shell's coolant portfolio that has been designed to meet the requirements of commercial vehicles deploying nitrite free engine antifreeze formulations to protect aluminum components in automobiles. Indeed, in 2016, the automotive sector accounted for 60% of antifreeze industry share.

Speaking along similar lines, Alliance Truck Parts has also recently added new products to its portfolio with the launch of nitrite-free antifreeze products, for which the firm used organic additive technology to extend the life of the coolant. The coolants formulated with the help of OAT technology also possess the ability to provide advanced protection to all components of cooling systems against corrosion and cavitation, which has thus helped to expand the scope of this technology in antifreeze market.

It is very interesting to note that most participants in antifreeze market have been extensively adopting the OAT technology to fulfill the increasing product demand from the automotive sector. In consequence, this trend has been having an appreciable impact on antifreeze industry outlook.

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Indeed, many players in antifreeze market have been pouring in substantial capital to consolidate their stance in this business space. Some of the most noteworthy players in antifreeze industry are Exxon Mobil Corporation, Royal Dutch Shell, Ashland Inc., and Castrol.