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Antifreeze Market Share

Report ID: GMI2203
Published Date: Jul 2021
Report Format: PDF

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Antifreeze Market Share

Market players are majorly focusing on making investments in R&D to expand their product portfolio and attain a competitive edge over its competitors globally. Furthermore, easy availability of raw materials used in antifreeze manufacturing increases the threat of new entrants. New product development, strategic alliances, and enhancement of the product landscape are the key initiatives in the global antifreeze market.

Major players are expanding their presence in emerging economies to cater to the increasing demand for antifreeze. Some of the key manufacturers include in the antifreeze industry are :

Chevron Philips Chemical Co
Royal Dutch Shell
Kost USA
Total S.A
Exxon Mobil Corporation
Ashland Inc
PETRONAS
Castrol
BASF SE
Dow Chemicals
Sinopec Corporation
DuPont

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The antifreeze industry size was valued at around USD 4.81 billion in 2020 and is expected to hit a 7.4% CAGR through 2027.

The ethylene glycol product segment was responsible for an antifreeze market share of close to 51.8% in 2020 and will grow substantially with the higher usage in automobile engines.

The market revenue from the OAT technology segment reached more than USD 3.19 billion in 2020 and will grow with the increasing need for environmental-friendly characteristics and longer replacement cycles.

Automotive applications are expected to hold more than 65% of the total market share by 2027 owing to extensive product adoption to maintain the optimum temperature inside the vehicle engines.

The Asia Pacific market exceeded USD 2.17 billion in 2020 and will expand at a robust pace due to the proliferating automotive, aerospace, and industrial sectors in the region.