New York 10013, United States of America – March 23, 2022 —
Automotive Coolant Market Overview
As per the recent study, the global automotive coolant market size in 2021 is registered at USD 4642.3 million and is estimated to exhibit a significant CAGR of 5% with a market size of USD 6404.28 million during the forecast period 2022-2027.
Automotive coolants are used to cool the motor parts in the vehicles and forestall over warming during usage, mainly in chilly environments, and also to forestall the erosion of the vehicle’s metal hardware. This coolant is used in almost all significant automobiles from small motor engine bicycles to heavy-duty commercial vehicles. It protects the motor from overheating and greases up the moving parts that come into contact with that forestalls harm to the water pump, the cylinder, head gasket, and piston timings. The heat transfer rate is highly dependent upon the temperature difference between coolants, outside air, and the flow rate of the coolant. The freezing point of a coolant in an ideal condition remains -200 F while the boiling point does not exceed 2340 F.
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Rising popularity for vehicles and automakers, and persistent interest in R & D for improving the climate cordial, cost-effective, and low poisonous products with high durability are driving the growth of the market. Simple and huge accessibility of different materials like glycerin, ethylene glycol, and propylene glycol in developed countries helps in developing such new products is accelerating the market growth around the world. Rising demand for fuel-efficient vehicles leads to the replacement of traditional lubricants with synthetic lubricants. The bio-based lubricants minimize the harmful environmental effects which is the current trend that fuels the market growth.
The automotive coolant market opportunities are rising in the automotive sector by improving the socio-economic status, exploding population, growing e-commerce sector, developing infrastructure, and the rise in the vehicle fleet are boosting the market growth.
Key Players
The major market players in the market are
- Valvoline LLC (US)
- Exxon Mobil Corporation (US)
- BASF SE (Germany)
- Total (France)
- Chevron Corporation (US)
- Royal Dutch Shell plc (the Netherlands)
- OLD WORLD INDUSTRIES LLC (Italy)
- Prestone Products Corporation (US)
- Arteco (Belgium)
- AMSOIL INC (US)
- Recochem Corporation (Canada)
- MOTUL (France)
Automotive Coolant Market Segmentation
The automotive coolant market is classified into four segments based on the technology, product, vehicle type, and end-user.
Technology Segmentation: The automotive coolant market technologies are trifurcated into inorganic additive technology (IAT), organic additive technology (OAT), and hybrid organic acid technology (HOAT).
Product Segmentation: Based on the product, the automotive coolant market is sectioned into ethylene glycol, propylene glycol, glycerin, and others.
Vehicle Type Segmentation: By vehicle type, the automotive coolant market is partitioned into passenger cars, heavy commercial vehicles, light commercial vehicles, and others.
End-User Segmentation: The automotive coolant market by end-user is bifurcated into original equipment manufacturer (OEM), and automotive aftermarket.
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Regional Classification
Based on the recent research, the global automotive coolant market based on region is divided into four major regions such as Asia-Pacific, Europe, North America, and the Middle East & Africa. Out of these regions, Asia-Pacific is dominating the highest market share due to the rapid industrialization to improve the infrastructure and rising number of small & medium enterprises which enhances the demand for heavy-duty trucks and light passenger vehicles.
Recent Development
October 2021 – Gulf Oil has introduced a new series of e-fluids for Hybrid as well as Electric passenger cars. These fluids have been launched in other markets that include Middle East, China, and Europe earlier in 2022, while Hinduja will be launching these in the Indian market. One of the products, the eLEC Coolant, helps cool the batteries in the electrical vehicles, and also helps keep them cool even under adverse conditions.
Another product, Gulf Formula Hybrid advanced engine synthetic oil as well as transmission fluids have been developed for hybrid cars, which help maintain optimum engine performance in an extensive range of temperatures.
November 2021 – Redline Detection, the renowned developer of diagnostic leak detection technology in the global industry, confirms engineering of a new diagnostic leak detection technology that works primarily in battery electric vehicles.
Called Battery + Coolant Leak Detector (BCLD), the technology helps analyze the performance of the battery present in electric as well a hybrid vehicle. Compact and durable, BCLD is connected to the battery enclosure off or on the vehicle, giving visual and audible progress as well as precise fail/pass indication, particularly that battery along with the vehicle type, when the testing is finished.
December 2020 – Recochem, a well-renowned manufacturer, and distributer of automotive aftermarket fluids, recently acquired KOST USA Inc., which is the third biggest manufacturer of auto coolants in the US. KOST is known for its extensive line of heavy and light-duty coolants as well as various functional fluids, catering to blue-chip end-users across the automotive aftermarket channels.
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Table of Content
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 23
1.1.1 GLOBAL AUTOMOTIVE COOLANT MARKET, BY TECHNOLOGY 24
1.1.2 GLOBAL AUTOMOTIVE COOLANT MARKET, BY PRODUCT 25
1.1.3 GLOBAL AUTOMOTIVE COOLANT MARKET, BY VEHICLE TYPE 26
1.1.4 GLOBAL AUTOMOTIVE COOLANT MARKET, BY END USE 27
1.1.5 GLOBAL AUTOMOTIVE COOLANT MARKET, BY REGION 28
2 MARKET INTRODUCTION
2.1 DEFINITION 29
2.2 SCOPE OF THE STUDY 29
2.3 MARKET STRUCTURE 29
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 30
3.2 PRIMARY RESEARCH 31
3.3 SECONDARY RESEARCH 31
3.4 MARKET SIZE ESTIMATION 32
3.5 FORECAST MODEL 34
3.6 LIST OF ASSUMPTIONS 34
4 MARKET DYNAMICS
4.1 INTRODUCTION 35
4.2 DRIVERS 37
4.2.1 INCREASING DEMAND IN THE GLOBAL AUTOMOTIVE AFTERMARKET 37
4.2.2 GROWING SALE OF COMMERCIAL VEHICLES ACROSS THE GLOBE 38
4.2.3 DRIVERS IMPACT ANALYSIS 40
4.3 RESTRAINTS 41
4.3.1 VOLATILE RAW MATERIAL (CRUDE OIL) PRICES 41
4.3.2 RESTRAINTS IMPACT ANALYSIS 42
4.4 OPPORTUNITIES 42
4.4.1 EXPANDING AUTOMOTIVE INDUSTRY IN LATIN AMERICA AND THE MIDDLE EAST 42
4.5 CHALLENGES 43
4.5.1 INCREASING ADOPTION OF ELECTRIC VEHICLES 43
5 MARKET FACTOR ANALYSIS
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