Antifreeze Market Size, Trends, Growth, Report 2023-2032
The global antifreeze market was surpassed at USD 5,061.16 million in 2022 and is expected to hit around USD 9,965.38 million by 2032, growing at a CAGR of 7.01% from 2023 to 2032.
Key Pointers
Report Scope of the Antifreeze Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 26.27% |
| Revenue Forecast by 2032 | USD 9,965.38 million |
| Growth rate from 2023 to 2032 | CAGR of 7.01% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Royal Dutch Shell; CCI Corporation; BASF SE; Old World Industries Inc; KMCO; SONAX GmbH; KOST USA, Inc; Recochem Inc; Amsoil; MITAN; PARAS Lubricants; TOTAL; Gulf Oil International; PENTOSIN; Millers Oils |
Growing automotive sector in emerging economies including China, India, Indonesia, South Korea and Mexico is expected to drive market demand.
Rising concerns in protecting automotive engines and radiators against overheating, freezing and corrosion is expected to drive the demand for antifreeze. Increasing demand for passenger cars & light weight commercial vehicles in China & India coupled with favorable government policies on automotive development and manufacturing is expected to create immense market potential.
High demand for coolants based on minimally depleting carboxylate technology as substitutes for conventional antifreeze based on silicates, nitrates, phosphates and amines is expected to translate into rapid industry growth over the forecast period.
Aerospace accounted for the second largest application sector. Growing commercial aerospace subsector coupled with increasing defense budgets by countries including UK, Middle Eastern Countries, Japan, France, India and China will promote industry growth.
Application Insights
Automotive application dominated the market with a revenue share of above 80.23% in 2022. This is attributed to the increasing usage of antifreeze in HVAC (heating, ventilation, and cooling) for the automotive and industrial sectors is expected to fuel industry expansion. In addition, factors including favorable government initiatives, rising disposable income, changing lifestyles, and rapid urbanization will further propel market growth over the next eight years.
The aerospace and defense sector is expected to witness significant revenue growth at a CAGR of 6.24% from 2023 to 2032 owing to the immense investments made in aerospace R&D and the presence of abundant players in countries including Germany, France, the UK, Sweden, and Poland. Furthermore, the growing commercial aerospace subsector owing to the accelerated equipment replacement cycle and the increase in passenger travel demand is expected to fuel industry growth.
Product Insights
Ethylene Glycol based antifreeze product dominated the market with a revenue share of above 59.04% in 2022. This is attributed to the rising usage of ethylene glycol in deicing, prevention of radiator overheating, protection against radiator freezing, and hydraulic brakes are expected to drive the market demand. In addition, increasing usage as a heat conductor in heating & cooling systems is likely to further fuel the market growth.
However, the demand for these products is likely to grow at a slower pace over the forecast period as a result of the stringent regulatory framework regarding coolant disposal & recycling, toxicity, high rate of degradation, corrosive properties, and high cost of storage & handling.
Propylene glycol is expected to witness the fastest growth over the forecast period owing to non-toxicity, high compatibility & low cost as compared to conventional ethylene glycol. Advancements in processing technologies and stringent regulations promoting the substitution of toxic compounds are expected to propel propylene glycol demand over the forecast period.
The glycerine-based antifreeze industry is likely to revive owing to the increasing demand for environment-friendly antifreeze with lower toxicity and cost-efficiency. In addition, the ASTM standards promoting the use of glycerine in antifreeze coupled with stringent regulations on toxic compounds including ethylene glycol are expected to drive the demand for glycerine-based antifreeze.
Technology Insights
The organic acid technology application segment held the largest revenue share of above 52.76% in 2022. This is attributed to the presence of environment-friendly, easily decomposable neutralized inorganic salts and acids. In addition, the extended drain interval of OAT is expected to further propel market growth.
The HOAT market is expected to witness significant demand over the forecast period owing to its extended lifetime and efficient corrosion inhibition. In addition, the excellent coolant to coolant compatibility (can be used as a top-up for both IAT and OAT antifreeze) and the rising usage of HOAT as factory fill by automotive OEMs including Mercedes, BMW, Mini Cooper, and Volvo along with increasing demand in general aftermarket coolant is expected to augment market growth.
Regional Insights
Asia Pacific dominated the market with a revenue share of 26.27% in 2022. This is attributed to increasing demand for passenger cars and light commercial vehicles mainly in China and India.
In addition, the rising automotive sector in various countries including India, China, Indonesia, and Thailand coupled with improved standard of living, consumer awareness levels, and rising disposable income will promote growth over the forecast period. Furthermore, increasing the sale of electric vehicles along with rising investments in R&D for hybrid vehicles is expected to open new growth avenues.
North America is the second-largest market for antifreeze. North America is expected to show steady growth over the forecast period owing to the increasing automotive manufacturing in countries including Mexico, Canada, and the U.S. In addition, the increasing production of light and heavy-duty commercial vehicles is expected to drive coolant market growth.
The European market is expected to witness steady growth over the forecast period owing to the increasing automotive manufacturing and aerospace sector. The rising demand for light and heavy commercial vehicles across Europe for freight transportation will fuel the demand for heavy-duty antifreeze.
Antifreeze Market Segmentations:
By Product
By Technology
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Product Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Antifreeze Market
5.1. COVID-19 Landscape: Antifreeze Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Antifreeze Market, By Product
8.1. Antifreeze Market, by Product, 2023-2032
8.1.1 Ethylene Glycol
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Propylene Glycol
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Glycerin
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Antifreeze Market, By Technology
9.1. Antifreeze Market, by Technology, 2023-2032
9.1.1. OAT
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. HOAT
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. IAT
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Antifreeze Market, By Application
10.1. Antifreeze Market, by Application, 2023-2032
10.1.1. Automobile
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Aerospace
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Industrial heat transfer and cooling systems
10.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Antifreeze Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.2. Market Revenue and Forecast, by Technology (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.2. Market Revenue and Forecast, by Technology (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Technology (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Technology (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.2. Market Revenue and Forecast, by Technology (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Technology (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Technology (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Technology (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Technology (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Technology (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Technology (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. Royal Dutch Shell
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. CCI Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. BASF SE
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Old World Industries Inc
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. KMCO
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SONAX GmbH
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. KOST USA, Inc
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Recochem Inc
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Amsoil
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. MITAN
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers