Antifreeze Market Analysis

Antifreeze Market Analysis

Based on type, the antifreeze market is classified into ethylene glycol, propylene glycol, and others. In 2020, the ethylene glycol product segment accounted for the major share of the market of around 51.8% in terms of value. Ethylene glycol is widely applicable as an antifreeze in automobile engines and an industrial solvent. Upon the addition of ethylene glycol to water, raises the boiling point of water as well as lowers the freezing point of water. The product possesses a boiling point of 387°F (197.3°C) and freezing point of 9°F (12.9°C), which makes it suitable for use as a coolant in the automotive industry to maintain the vehicle engine at optimum temperature.

Propylene glycol is expected to grow at a CAGR of 7.5% through 2027. Propylene glycol is a relatively safe chemical used in industrial & consumer applications. Its mixture with water is termed as low-temperature transfer fluids. They are less toxic as compared to ethylene glycol and are therefore favored for many applications, mainly when human exposure can occur.
 

The OAT segment accounted for the highest share and generated a revenue of over USD 3.19 billion in 2020. OAT does not contain phosphate or silicates instead it contains sebacate, 2-ethylhexanoic, and other organic acids. They are nitrite-free, increasing their service cycle. Additionally, they have neutral inorganic salts and acids, which get degraded without affecting the environment. Due to stringent environmental regulations in North America and Europe, the use of IATs has lowered while the use of OATs has gone up in the past few years. The global demand for OAT will increase due to its environmental-friendly nature and longer replacement cycle.
 

The automotive application segment will account for over 65% of the total antifreeze market share in 2027. It is commonly utilized in the automotive industry to maintain optimum temperature inside the engine of vehicle by reducing excess temperature, which is produced when it runs and thus, avoiding severe damage to its internal component. The product possesses chemical inertness, excellent thermal capacity, low viscosity, non-toxic properties, and anti-corrosive, making it suitable for automotive applications.
 

The Asia Pacific market size was over USD 2.17 billion in 2020. The growth in the region is mainly driven by upsurge in the automotive, aerospace, and industrial sectors. The rising aerospace industry in the region is mainly driven by the improved consumer spending power, and increased air traffic in the region, driving aircraft manufacturing in the near future.