Europe and Middle East & Africa Ethylene Glycol Antifreeze Market to Grow at a CAGR of 5.5% to reach US$ 1,342.73 Million from 2021 to 2028

The Europe and Middle East & Africa ethylene glycol antifreeze market is expected to grow from US$ 974.67 million in 2022 to US$ 1,342.73 million by 2028. It is expected to grow at a CAGR of 5.5% from 2022 to 2028.

Ethylene glycol antifreeze is a colored liquid mixed with water to help regulate engine temperatures. Ethylene glycol, water, and additives are some raw materials required for antifreeze manufacturing. Antifreeze additives help prevent the coolant liquid from freezing and protect engines from damage. The increasing vehicle production and aftermarket for antifreeze and engine coolants is mainly driving the Europe and Middle East & Africa ethylene glycol antifreeze market

The growing necessity for improving the health of engines, radiators, and other automotive systems is mainly driving the ethylene glycol antifreeze market. In addition, the increasing automotive vehicle production in Germany, France, and the UK requires ethylene glycol antifreeze. According to the data presented by the European Automobile Manufacturers' Association (ACEA), in 2021, nearly 9.9 million passenger vehicles were manufactured in European Union. Furthermore, the increasing focus of automotive manufacturers on developing technologically innovative automotive engines is likely to favor the region's ethylene glycol antifreeze market growth.

Market Insights

Increasing Vehicle Production and Aftermarket for Ethylene Glycol Antifreeze and Engine Coolants

Ethylene glycol antifreeze is used as an additive with the coolant in the internal combustion (IC) of liquid-cooled engines to adjust the freezing and boiling points. These additives prevent the coolant liquid from freezing and protect engines from damage. The automotive sector has witnessed tremendous growth in the past few years due to the increasing demand for passenger cars. Despite facing the adverse effects of the COVID-19 pandemic during 2020–2021, the sector bounced back in the fiscal year 2021–2022. The surge in automobile sales, relaxation of travel restrictions, and rapid mass vaccination programs favored the revival of the automotive vertical. According to the International Organization of Motor Vehicle Manufacturers (OICA) report, the automotive sector grew by ~5% from 2020 to 2021.

The increasing demand for premium vehicles is another factor driving the market. Using a high-end engine with very high potential provides superior performance in terms of total weight, acceleration, and quality. High-performance cars are gaining momentum due to aerodynamic design, tires, smart suspension, and improved brakes. Such cars require a lot of ethylene glycol antifreeze to dissipate the excess heat generated by the engine and other vehicle components. Antifreeze also helps in regulating the temperature during extreme conditions. Besides, ethylene glycol antifreeze-based lubricants prevent rust, corrosion, and engine failure and extend engine parts' life.

Technology Insights

Based on technology, the ethylene glycol antifreeze market is segmented into inorganic additive technology and organic acid technology & hybrid organic acid technology. In 2020, the organic acid technology & hybrid organic acid technology segment held a larger market share. Organic acid technology-based ethylene glycol additives are efficiently used as diesel colling agents in heavy-duty diesel cooling systems. The increasing maintenance demand for heavy-duty vehicles is driving the market for the organic acid technology & hybrid organic acid technology segment.

Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Share, by Source, 2021 vs. 2028

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Wacker Chemie AG; BASF AG; Chevron Corporation; Dow, Inc.; EXXON MOBIL CORPORATION; CCI Corporation; Old World Industries; Prestone Products Corporation; Valvoline LLC.; and Shell Plc. are the key players in the Europe and Middle East & Africa ethylene glycol antifreeze market. The leading players adopt strategies such as mergers, acquisitions, and product launches to expand their geographic presence and clientele. 

Report Spotlights

• Progressive ethylene glycol antifreeze market trends to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the Europe and Middle East & Africa ethylene glycol antifreeze  market from 2019 to 2028
• Estimation of the demand for ethylene glycol antifreeze
• Porter's analysis illustrates the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and the demand for the ethylene glycol antifreeze
• Ethylene glycol antifreeze market trends and outlook, and factors driving and restraining the Europe and Middle East & Africa ethylene glycol antifreeze market growth
• Understanding the strategies that underpin commercial interest with regard to the Europe and Middle East & Africa ethylene glycol antifreeze market growth, aiding in the decision-making process
• The Europe and Middle East & Africa ethylene glycol antifreeze market size at various nodes of market
• Detailed overview and segmentation of the Europe and Middle East & Africa ethylene glycol antifreeze market and its industry dynamics
• The Europe and Middle East & Africa ethylene glycol antifreeze market size in various regions with promising growth opportunities

The "Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the Europe and Middle East & Africa ethylene glycol antifreeze market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The Europe and Middle East & Africa ethylene glycol antifreeze market is segmented based on technology, application, and distribution channel. Based on technology, the market is segmented into inorganic additive technology and organic acid technology & hybrid organic acid technology. Based on application, the Europe and Middle East & Africa ethylene glycol antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing & others. In 2021, the automobiles segment held the largest market share and is expected to be the fastest-growing segment during the forecast period. Based on distribution channel, the market is segregated into original equipment manufacturers (OEM), aftermarkets, and retail & others.

Company Profiles

• Wacker Chemie AG
• BASF AG
• Chenron Corporation
• Dow, Inc.
• EXXON MOBIL CORPORATION
• CCI Corporation
• Old World Industries
• Prestone Products Corporation
• Valvoline LLC.
• Shell Plc.

Report Scope

Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Regional Insights

The regional trends and factors influencing the Europe and Middle East & Africa Ethylene Glycol Antifreeze Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Europe and Middle East & Africa Ethylene Glycol Antifreeze Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Report Scope

Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Players Density: Understanding Its Impact on Business Dynamics

The Europe and Middle East & Africa Ethylene Glycol Antifreeze Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Europe and Middle East & Africa Ethylene Glycol Antifreeze Market are:

1. Wacker Chemie AG
2. BASF AG
3. Chenron Corporation
4. Dow, Inc.
5. EXXON MOBIL CORPORATION

Disclaimer: The companies listed above are not ranked in any particular order.