Europe and Middle East & Africa Antifreeze Market to Grow at a CAGR of 5.2% to reach US$ US$ 2,327.46 Million from 2022 to 2028

Europe and Middle East & Africa antifreeze market size was valued at US$ 1,712.49 million in 2022 and is projected to reach US$ 2,327.46 million by 2028; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.

Antifreeze or coolant is a colored liquid that is mixed with water which help to regulate the engine temperatures. Engine coolant is mixed with water, usually at a 50/50 ratio. Antifreeze helps reduce the freezing point of the mixture. It is also a lubricant in an engine that ensures that various parts, including water pumps, move smoothly. In doing so, antifreeze reduces friction. Additionally, antifreeze helps prevent corrosion in engines. 

In 2021, Europe held the largest revenue share of the Europe and Middle East & Africa antifreeze market. The antifreezemarket in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The major factors driving the market in the region are the increasing use of antifreeze in automotive, industrial heating/cooling, and energy sectors. Germany, France, Italy, and the UK have strong automotive industries. The growing automotive sales in the region is creating a huge demand for antifreeze. The use of solar energy is growing at the highest pace in the European Union. The European Union solar market grew by 18 GW in 2020, as per the European Commission. With this, maintaining solar energy systems properly is also important. Antifreeze is used in solar water heating systems as heat transfer fluid. Further, players operating in the Europe antifreeze market are focusing on different strategies such as investment in research and development activities and new product launches. All these factors positively influence the market growth in the region.

Impact of COVID-19 Pandemic on Europe and Middle East & Africa Antifreeze Market

Before the COVID-19 pandemic, the demand for antifreeze was mainly driven by industries such as automotive, industrial heating, energy manufacturing, and construction equipment. However, the COVID-19 pandemic affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to supply chain disruptions caused by the shutdown of national and international borders upon the onset of the COVID-19 pandemic. The pandemic negatively impacted construction and infrastructure sectors in Europe and the Middle East & Africa and created various challenges for the construction industry, such as a shortage of raw materials and labor. During the COVID-19 pandemic, the high demand and low supply equation resulted in the rise in ethylene glycol prices. All these factors have negatively impacted Europe and Middle East & Africa antifreeze market growth.

However, with the relaxation of COVID-19-related restrictions, the demand for antifreeze from automotive and industrial heating sectors started to increase. There is a rise in demand for passenger vehicles in European countries such as Germany, the UK, and Spain. This is expected to positively influence Europe and Middle East & Africa antifreeze market growth.

Europe and Middle East & Africa Antifreeze Market Breakdown – by Region

Market Insights

Increasing Vehicle Production and Aftermarket for Antifreeze and Engine Coolants

In the automotive industry, antifreeze is used in the internal combustion of liquid-cooled engines to adjust freezing and boiling points. Antifreeze additives help prevent the coolant liquid from freezing and protect engines from damage. The automotive sector has witnessed tremendous growth in the last decade. The growth of the automotive industry in various economies such as the UK, Germany, France, and Italy has mainly driven the Europe and Middle East & Africa antifreeze market.

Further, high-performance cars are gaining momentum owing to their aerodynamic design, tires, smart suspension, and improved brakes. These types of cars require a lot of antifreeze to manage the excess heat generated by the engine and other vehicle components.

Coolant Type Insights

Based on coolant type, Europe and Middle East & Africa antifreeze market has been segmented into ethylene glycol, propylene glycol, and glycerin & others.Europe and Middle East & Africa antifreeze market share for the ethylene glycol segment was largest in 2021. Ethylene glycol is an alcohol-based organic compound. It is commonly used in various commercial and industrial applications, including antifreeze and coolants. Ethylene glycol is an important ingredient in automotive antifreeze and coolant. It helps prevent coolant liquid from freezing within the radiator by lowering its freezing temperature, lubricating the water pump, and inhibiting corrosion. It also acts as a coolant to reduce overheating of car engines in the summer. The growing automotive industry in various countries across Europe and the Middle East & Africa is creating a demand for automotive antifreeze and coolants.

Europe and Middle East & Africa Antifreeze Market, by Coolant Type – 2021 and 2028

Technology Insights

Based on technology, Europe and Middle East & Africa antifreeze market has been segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology & others. Europe and Middle East & Africa antifreeze market share for the organic acid technology segment was largest in 2021. Organic acid technology coolants make use of carboxylic acids as the main inhibitors within their product. They are originally marketed as permanent or long-life antifreeze. Organic acid technology products use propylene glycol as the base; hence, they are less harmful to pets, kids, and the environment in case of spillover. 

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Europe and Middle East & Africa Antifreeze Market: Strategic Insights

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Wacker Chemie AG, BASF SE, Chevron Corporation, Dow Inc., EXXON MOBIL CORPORATION, CCI Corporation, Old World Industries, Prestone Products Corporation, Valvoline LLC, and Shell plc are among the major players operating in the Europe and Middle East & Africa antifreeze market.  Players operating in the Europe and Middle East & Africa antifreeze market are constantly focusing on strategies such as investments in research and development activities and new product launches. These market players are highly focused on the development of high-quality and innovative product offerings to fulfill the customers’ requirements.

Report Spotlights

• Progressive industry trends in the Europe and Middle East & Africa antifreeze market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Europe and Middle East & Africa antifreeze market from 2020 to 2028
• Estimation of demand for antifreeze in Europe and Middle East & Africa
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the Europe and Middle East & Africa antifreeze market growth
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the Europe and Middle East & Africa market growth
• The Europe and Middle East & Africa antifreeze market size at various nodes
• Detailed overview and segmentation of the market, as well as the Europe and Middle East & Africa antifreeze market dynamics
• The Europe and Middle East & Africa antifreeze market size in various regions with promising growth opportunities

Europe and Middle East & Africa Antifreeze Market

Based on coolant type, the Europe and Middle East & Africa antifreeze market is segmented into ethylene glycol, propylene glycol, and glycerin & others. In terms of technology, the Europe and Middle East & Africa antifreeze market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology & others. Based on application, the Europe and Middle East & Africa antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing & others. In terms of distribution channel, the Europe and Middle East & Africa antifreeze market is categorized into original equipment manufacturers (OEMs), aftermarket, and retail & others.

Company Profiles

Wacker Chemie AG, BASF SE, Chevron Corporation, Dow Inc., EXXON MOBIL CORPORATION, CCI Corporation, Old World Industries, Prestone Products Corporation, Valvoline LLC, and Shell plc are among the major players operating in the Europe and Middle East & Africa antifreeze market.