Antifreeze Market is expected to reach US$ 8,731.11 Million by 2028

Growing Construction Activities and Sales of Construction Equipment to Drive Global Antifreeze Market

According to our latest market study on “Global Antifreeze Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Coolant Type (Ethylene Glycol, Propylene Glycol, and Glycerin & Others), Technology (Inorganic Additive Technology, Organic Acid Technology, and Hybrid Organic Acid Technology & Others), Application (Automobiles, Industrial Heating/Cooling, Energy, and Manufacturing & Others), and Distribution Channel [Original Equipment Manufacturers (OEMs), Aftermarket, and Retail & Others]” the antifreeze market size was valued at US$ 6,322.39 million in 2022 and is projected to reach US$ 8,731.11 million by 2028. It is expected to grow at a CAGR of 5.5% from 2022 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.

Antifreeze or coolant is mixed with water which helps to regulate engine temperatures. An antifreeze helps reduce the freezing point of the mixture. It is comprised primarily of either ethylene glycol or propylene glycol. The global antifreeze market is segmented on the basis of coolant type, technology, application, distribution channel, and geography.

The growing construction activities and sales of construction equipment are mainly driving the global antifreeze market growth. The use of antifreeze in cement allows the operation below the freezing point. In Europe, the Middle East, and Africa, the government and private sectors are making huge investments in the construction of new residential and commercial buildings, supporting the growth of the construction industry. In European countries, governments are investing in new smart city development projects. The European Union is expected to have more than 300 smart cities in the coming years, which will boost the adoption of construction equipment in the process.

Further, India is one of the largest construction markets globally. In India, the growth in construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. All these factors are expected to fuel the demand for antifreeze in the region during the forecast period.

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 some of the major players operating in the global antifreeze market. Players operating in the global 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 developing high-quality, innovative product offerings to fulfill customer requirements.

Impact of COVID-19 Pandemic on the global Antifreeze Market

In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. Many countries across the globe were the worst-affected countries by the COVID-19 pandemic. The outbreak created a temporary distortion in industrial operations across different regions. In Europe, the production activities in manufacturing industries were almost negligible due to the shortage of laborers and disrupted supply chains of raw materials. In addition to trade restrictions, the decrease in demand for antifreeze from the construction equipment industry hampered the antifreeze market growth in Europe. With the COVID-19 pandemic having a major impact on global markets, it has also affected the automotive sector. This has negatively impacted the consumption of antifreeze in various automotive-related applications. However, the automotive industries in various regions started production with the uplift of COVID-19 guidelines. The revival of various industries after the gradual resolution of supply constraints resulted in an increased demand for antifreeze across various end-use industries. This is supporting to the antifreeze market growth.

Global Antifreeze Market Breakdown – by Region

The report includes the segmentation of the global antifreeze market as follows:

• The global antifreeze market, by coolant type, is segmented into ethylene glycol, propylene glycol, and glycerin & others. Based on technology, the market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology & others. Based on application, the market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing & others. Based on the distribution channel, the market is categorized into original equipment manufacturers (OEMs), aftermarket, and retail & Others.
• The global antifreeze market based on geography is further segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The antifreeze market in North America is segmented into the US, Canada, and Mexico. The market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The antifreeze market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia pacific. The market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The antifreeze market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America.

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