The global antifreeze market size reached USD 5.56 Billion in 2021 and is expected to register a revenue CAGR of 1.8% during the forecast period, according to latest analysis by Emergen Research. Rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems is an important factor driving market revenue growth.
The research report provides an in-depth evaluation of the Global Antifreeze market drivers and restraints Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
Although closed-loop HVAC systems are extremely effective, there is a chance that the system's exposed coils and pipes would freeze in cold winter regions. Propylene glycol (antifreeze) is commonly added to water to reduce its burst point from 32 degrees Fahrenheit to between 0 degrees and -10 degrees Fahrenheit in order to prevent that from occurring. Propylene glycol is costlier than water, which is more efficient at transmitting heat. The expense of fixing or replacing HVAC system parts, however, makes adding this anti-freezing fluid to a closed-loop system well worth the investment. Additionally, since the system is sealed, once propylene glycol is added, there is no need to replenish it.
However, varying costs of raw materials are hampering market revenue growth. Propylene glycol, glycerin, and ethylene glycol serve as the raw fluids for the main automobile antifreeze ingredients that are easily accessible in the market. These substances are by-products of the refining of crude oil. The price of crude oil frequently fluctuates which has an immediate effect on the cost of these basic fluids. The cost of crude oil varies greatly on a per barrel basis. According to the U.S. energy information administration, the price per barrel in December 2019 was 59.41 USD whereas, in December 2021 it was 70.56 USD and in May 2022 it was 108.29 USD. Thus, fluctuating price of raw materials is expected to restrain market revenue growth.
If you are a Antifreeze vendor and deals in exports imports then this article will help you understand the Sales Volume with Impacting Trends.
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Competitive Landscape:
The global Antifreeze industry is highly consolidated due to the presence of powerful market competitors across several regional and local segments of the Antifreeze market. These players are said to dominate the industry owing to their strong geographical reach and large production facilities. These companies are said to be in high competition with one another in terms of technological capabilities, product development and innovation, and product pricing strategies.
The major manufacturers covered in this report:
Rock Oil Refining, Inc., BP plc, Shell plc, Chevron Corporation, Exxon Mobil Corporation, TotalEnergies, LUKOIL, Petroliam Nasional Berhad (PETRONAS), Valvoline Inc., and Cummins Inc.
A quick look at the industry trends and opportunities
The study evaluates the ever-changing industry dynamics that are expected to affect the trajectory of the overall market. Our expert analysts scrutinize the historical trends in the market and compare it to the contemporary market trends, to estimate the trajectory that the market might follow in the forecast period. For an in-depth discussion regarding the global Antifreeze market, analysts segment the market parameters based on the application, product, and end-users.
Segments Covered in this report are:
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Automotive
- Industrial
- Others (Aerospace and Electronics)
- Base Fluid Outlook (Revenue, USD Billion; 2019–2030)
- Ethylene Glycol (EG)
- Propylene Glycol (PG)
- Glycerin
- Technology Outlook (Revenue, USD Billion; 2019–2030)
- Organic Additive Technology (OAT)
- Hybrid Organic Acid Technology (HOAT)
- Inorganic Acid Technology (IAT)
Regional Analysis:
The global Antifreeze market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include:
- North America (U.S., Canada, Mexico)
- South America (Brazil, Argentina, Ecuador, Chile)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, Japan, India, Korea)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
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