Global Antifreeze Market Forecast to 2027 - COVID-19 Impact and Analysis

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Mar 15, 2021, 07:30 ET

DUBLIN, March 15, 2021 /PRNewswire/ -- The "Antifreeze Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type, Technology Type, and Application (Automobile, Construction, Electronics, and Others)" report has been added to ResearchAndMarkets.com's offering.

According to this report the global antifreeze market was valued at US$ 6,280.33 million in 2019 and is projected to reach US$ 9,603.41 million by 2027; it is expected to grow at a CAGR of 5.6% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Antifreeze is a type of additive that helps in lowering the freezing point in a water-based liquid. A mixture of antifreeze is used to obtain freezing point depression for cold environments. Antifreeze are used to increase the boiling point of a liquid and provide higher coolant temperature. It is mainly deployed in automobiles for the altering the freezing point and the boiling point of coolants in the combustions placed internally in the liquid cooled engines. Antifreeze can be developed from organic acid, azoles, and inorganic salts or from the combination of these. It helps in preventing rigid enclosures from bursting when they expand due to freezing. The study also takes into consideration coolants, which are significantly obtained by mixing antifreeze into water usually at a 50-50 ratio. The ethylene glycol antifreeze is used as a base to create the liquid that is pumped into the vehicle engine for regulating and maintaining the optimum operating temperature during the extreme cold or hot temperatures. The companies are offering more products in accordance with coolants as compared to antifreeze.

Increasing demand for high performance vehicles is driving the market growth. The use of highly potential and advanced engine in the car offers better competency in terms of its overall weight, acceleration, and high performance quality. The high performance vehicles are gaining momentum owing to their aerodynamic builds, sticky tires, smart suspensions, and fortified brakes. The high performance cars have high requirement for automotive antifreeze or coolants as they help in managing the excessive heat generated by engines and other components of vehicles.

Antifreeze also maintain temperature by protecting the cooling systems from overheating during extreme heat conditions and from freezing during the winters. They prevent rust and corrosion and engine failure, as well as extend the life of the engine components. The high performance cars have experienced a surge in sales in the past few years. For instance, as per a report published by the University of Groningen, the Mercedes Benz car division sold a total of 2,339,562 cars in 2019 in spite of the difficult situation. The growth in its sales was due to the huge market success of their new compact-class models together with the continued strong demand for the E-class and SUVs. Antifreeze plays a crucial role in such high performance vehicles, which helps in regulating the engine during extreme temperatures and in maintaining the heat produced by the components. Thus the rising demand for the high performance vehicles drives the growth of the antifreeze market.

A few of the major key players operating in the global antifreeze market are Spec Amsoil Inc.; BP p.l.c; Chevron Corporation; BASF SE; CCI Corporation.; Old World Industries, LLC; Prestone Products Corporation; Total; Exxon Mobil Corporation; and Royal Dutch Shell Plc.

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures updated in January 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally. The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.

For instance, China is the global manufacturing hub and largest raw material supplier for various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting manufacturing activities, delivery schedules, and various chemicals & materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are anticipated to hamper the chemicals & materials industry, which would restrain the growth of antifreeze market in the coming months.

Reasons to Buy

Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global antifreeze market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:

4. Antifreeze Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion

5. Antifreeze Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in the Demand for High Performance Vehicles
5.1.2 Rising Use of Antifreeze in Non-Automotive Applications
5.2 Market Restraints
5.2.1 Harmful Environmental Effects and Fluctuating Raw Material Prices
5.3 Market Opportunities:
5.3.1 Development of Eco-Friendly and Bio-Based Antifreezes
5.4 Future Trends:
5.4.1 Rising Demand from the Aerospace Sector
5.5 Impact Analysis of Drivers and Restraints

6. Antifreeze - Global Market Analysis
6.1 Antifreeze Market Overview
6.2 Antifreeze Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players

7. Antifreeze Market Analysis - By Product Type
7.1 Overview
7.2 Antifreeze Market, By Product Type (2019 and 2027)
7.3 Ethylene Glycol
7.3.1 Overview
7.3.2 Ethylene Glycol: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
7.4 Propylene Glycol
7.4.1 Overview
7.4.2 Propylene Glycol: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
7.5 Glycerin
7.5.1 Overview
7.5.2 Glycerin: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
7.6 Methanol
7.6.1 Overview
7.6.2 Methanol: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)

8. Antifreeze Market Analysis - By Technology Type
8.1 Overview
8.2 Antifreeze Market, By Technology Type (2019 and 2027)
8.3 Organic Acid Technology Antifreeze (OAT)
8.3.1 Overview
8.3.2 Organic Acid Technology Antifreeze (OAT): Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
8.4 Inorganic Acid Technology Antifreeze (IAT)
8.4.1 Overview
8.4.2 Inorganic Acid Technology Antifreeze (IAT): Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
8.5 Hybrid Organic Acid Technology (HOAT)
8.5.1 Overview
8.5.2 Hybrid Organic Acid Technology (HOAT): Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)

9. Antifreeze Market Analysis - By Application
9.1 Overview
9.2 Antifreeze Market, By Application (2019 and 2027)
9.3 Automobile
9.3.1 Overview
9.3.2 Automobile: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
9.4 Construction
9.4.1 Overview
9.4.2 Construction: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
9.5 Electronics
9.5.1 Overview
9.5.2 Electronics: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Antifreeze Market - Revenue, and Forecast to 2027 (US$ Million)

10. Antifreeze Market - Geographic Analysis
10.1 Overview
10.2 North America: Antifreeze Market
10.3 Europe: Antifreeze Market
10.4 Asia Pacific: Antifreeze Market
10.5 MEA: Antifreeze Market
10.6 SAM: Antifreeze Market

11. Overview- Impact of COVID-19
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.5 South America: Impact Assessment of COVID-19 Pandemic

12. Industry Landscape
12.1 Overview
12.2 Strategy & Business Planning
12.1 Product News

13. Key Company Profiles
13.1 Amsoil Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Service
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.2 Bp p.l.c.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.3 Chevron Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 BASF SE
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.5 CCI Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.6 Old World Industries, LLC
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.7 Prestone Products Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.8 Exxon Mobil Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.9 Total
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.10 Royal Dutch Shell Plc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis

14. Appendix
14.1 About the Publisher
14.2 Glossary

For more information about this report visit https://www.researchandmarkets.com/r/afiz8v

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