Global Antifreeze Market Report 2023: Increasing Environmental Laws to Lower Carbon Footprints Fuel the Sector
DUBLIN, May 17, 2023 /PRNewswire/ — The “Global Antifreeze Market Size, Trends, By Product Type, By Vehicle Type, By Application and By Region: Global Opportunity Analysis and Industry forecast, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Antifreeze Market is expected to grow from its estimated value of US$ 5.72 Bn in 2022 to US$ 8.32 Bn by 2030 at a CAGR of 4.06%
- Valvoline Inc.
- Exxon Mobil Corporation
- BASF SE
- Chevron Corporation.
- Royal Dutch Shell plc
- Prestone Products Corporation
- AMSOIL INC.
- Recochem Corporation
When it gets hot outside, your engine needs a liquid called antifreeze, commonly referred to as coolant, to help keep it running smoothly. Coolant is injected into the engine block to maintain a consistent operating temperature when the weather outside fluctuates from hot to cold.
More than merely maintaining a steady temperature is what antifreeze accomplishes. Vehicles use antifreeze as an essential engine coolant to help control temperature. Antifreeze helps keep the engine and radiator’s water from overheating in hot weather. At temperatures as high as 275 degrees Fahrenheit, it can operate with liquids.
Vehicle performance and fuel efficiency have improved as a result of the introduction of high-performance lubrication as a result of increasing environmental laws to lower carbon footprints. High-performance lubricants are mixed with automotive antifreeze to prevent freezing, which prolongs engine life.
The market for automotive antifreeze is anticipated to increase significantly as a result in the next years. Key market participants are concentrating on new product launch strategies and global growth to ensure market sustainability.
Long-term contact with automobile antifreeze can poison people and have hazardous effects on small animals. Governments in several nations are enforcing laws to counteract negative consequences that could endanger the environment by poisoning water supplies.
As a result, to meet the requirements set forth by various governmental authorities, producers in the automotive antifreeze market are adding bio-based antifreeze into a variety of lubricant compositions. Customers are gravitating towards bio-based automobile antifreeze since it is environmentally benign and biodegradable.
Nonetheless the development of coolants with long service lives and the rising trend of engine downsizing are limiting the market for antifreeze during the anticipated period, and the fluctuating price of raw materials combined with antifreeze recycling will pose a growth challenge.
By Product Type
- Propylene Glycol
- Ethylene Glycol
By Vehicle Type
- Passenger Cars
- Low Commercial Vehicles
- Heavy Commercial Vehicles
- Industrial heat transfer
- Cooling Systems
- Rest of Latin America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/td3n4u
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