A prominent rise in the rates of vehicle production, sales of cars, demand for automobile maintenance, and expansion of automotive aftermarket are factors responsible to transform the growth trajectory of the automotive antifreeze market in the coming years. As per Fact.MR’s study on the automotive antifreeze market, a steady CAGR surpassing 5% is projected during the forecast period of 2017 – 2022.
The study observes that macroeconomic factors such as ameliorating economic scenario, increasing disposable income, and expanding middle class have a significant influence on consumer behavior in terms of purchasing an automobile, frequency of repair and maintenance, and awareness about engine efficiency. In light of this, the research study projects a stable end-user sentiment which prominently impacts the developments in the automotive antifreeze market.
Assessment of the vehicle type segment reveals that the passenger car segment is expected to report the highest demand for automotive antifreeze and share a major market share by crossing US$ 100 million by 2022 end. On account of rising sales of passenger cars in developing regions such as APEJ, particularly, sales of passenger cars, typically in the category of first-time consumers, in China and India are highlighted.
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Antifreeze poisoning is one of the well-known adverse health effects of automotive antifreeze. Apart from its toxic influence on small animals, prolonged exposure of automotive antifreeze has been suggested to cause poisoning in humans. On the other hand, automotive antifreeze causes potential harm to the environment in terms of polluting different water resources. In light of this, governments in various countries have taken disciplinary actions to offset the harmful effects of the automotive antifreeze on the environment. In a bid to meet the standards put forth by various government bodies have pushed manufacturers to incorporate bio-based antifreeze in different lubricant formulations. Owing to the environment-friendly and biodegradable nature of bio-based automotive antifreeze, consumer demand for these sustainable antifreeze solutions is likely to rise in the coming years.
Owing to its higher compatibility, low-cost and non-toxicity, propylene glycol is highly sought after by automotive antifreeze manufacturers. In the traditionally used green, yellow and blue antifreeze, propylene glycol is the major component used in the cooling system based on inorganic acid technology. Adoption of inorganic acid technology remains at the helm of the demand, in turn, driving the demand for propylene glycol-based antifreeze. While ethylene glycol is also another chemical highly sought after by automakers, associated stringent regulatory framework, the high cost of handling and storage, corrosive properties and toxicity of ethylene glycol has significantly shifted manufacturers’ preference towards propylene glycol-based antifreeze products. In addition, developments in the processing technologies and favorable regulatory framework in terms of substitution of toxic compounds are further propelling the demand for propylene glycol-based automotive antifreeze.
The inception of high-performance lubrication can be tracked to the changing environmental regulations with regard to reducing carbon footprints of vehicles that demanded high-performance lubricants to enhance the fuel efficiency of the vehicle. Automotive antifreeze is added in the high-performance lubricants to protect the lubricants from freezing. Moreover, vehicle owners actively seek engine maintenance to increase the durability of engine operations and, in turn, that of the overall vehicle. This has further propelled the demand for high-quality automotive antifreeze products. To meet the growing demand for efficient automotive antifreeze in high-performance vehicles, key stakeholders in the automotive antifreeze market have been observed to adopt expansion and new product launch strategies to maintain the market sustainability.
A report published by Fact.MR on "Automotive Antifreeze Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022" delivers the most viable market performance during the forecast period 2017 – 2022. Considering the various facets of the market, the comprehensive insights covered in the report provide the readers with an all-inclusive market scenario. The automotive antifreeze market report includes information with respect to product type including ethylene glycol, propylene glycol and glycerin. In addition, the market is also evaluated by considering different vehicle types including PC, LCV and HCV as well as by sales channel including aftermarket and OEM. A thorough analysis of the historical data, current market scenario and future market projections in the automotive antifreeze market are also included in the report.
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