The global market for antifreeze/coolant is projected to grow from USD 4.52 billion in 2016 to reach USD 6.62 billion by 2021, at an estimated CAGR of 7.91% the reasons to drive this market, growth in demand in industries such as automobiles, electronics, and aerospace & defense, in both developed and developing countries.
“North America to be the fastest-growing market during the forecast period”
The North American region is projected to be the fastest-growing market during the forecast period, followed by the Rest of the World (RoW), from 2016 to 2021. In North America, the U.S. accounted for the largest consumption of antifreeze/coolant, followed by Canadain 2015.
North America is the next lucrative market for business enterprises offering antifreeze/coolants.
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The key reasons behind the growth in the North American region are emerging economies, government initiatives for FDI, growth in awareness of antifreeze/coolant, and, most importantly, the increase in trends in the industries such as automobiles, electronics, and aerospace and defense. In the European region, Germany is the largest consumer of antifreeze/coolant, owing to its excellent hold on the automotive industry.
Furthermore, developing economies such as Brazil, Argentina, and South Africa show high scope for the growth of the antifreeze/coolant market in the RoW region.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 52%, Tier 2 – 21%, and Tier3 – 27%
- By Designation: C-level – 73% and Manager Level – 27%
- By Region: North America – 10%, Europe – 20%, Asia-Pacific – 40%, and RoW – 30%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015. Tier 1: Revenue >USD 500 million, Tier 2: Revenue USD 100 to 500 million, and Tier 3: Revenue < USD 100 million.
The various suppliers of antifreeze/coolant profiled in the report are:
- BP PLC (U.K.)
- CHEVRON CORPORATION (U.S.)
- ROYAL DUTCH SHELL PLC (Netherlands)
- TOTAL S.A. (France)
- EXXON MOBIL CORPORATION. (U.S.)
- LUKOIL (Russia)
- PETRONAS (Malaysia)
- BASF SE (Germany)
- CUMMINS INC. (U.S.)
- MOTUL S.A.(France)
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Research Coverage
This report segments the market for antifreeze/coolants comprehensively into product type, application, and region, and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, agreements and expansions, and recent developments associated with the market for antifreeze/coolant.
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