Global Automotive Coolant Market – Industry Trends and Forecast to 2029

Global Automotive Coolant Market, By Technology (Inorganic Acid Technology (IAT), Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT)), Product (Ethylene Glycol, Propylene Glycol, Glycerine), Vehicle Type (Passenger Cars, Heavy Commercial Vehicles, Light Commercial Vehicles), End User (Original Equipment Manufacturer (OEM), Automotive Aftermarket) – Industry Trends and Forecast to 2029.

Automotive Coolant Market Analysis and Size

The automotive coolant market is projected to grow rapidly during the projected period, propelled by increasing vehicle sales and rising demand for automobiles' maintenance and services. Furthermore, automobile manufacturers are engaged in introducing newer products and brands to offer their consumers customized coolant solutions, thereby increasing the automotive coolant market share.

Data Bridge Market Research analyses that the automotive coolant market was valued at USD 4642.30 million in 2021 and is expected to reach USD 7124.48 million by 2029, registering a CAGR of 5.50% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Automotive Coolant Market Scope and Segmentation

Market Definition

Automotive coolant is an antifreeze or engine coolant, a coloured liquid. When mixed with the antifreeze, it helps water to help regulate the vehicle engine during extreme temperatures. It protects engines from overheating. Automotive coolant also lubricates the moving parts of the vehicles and protects them from damage when it comes into contact with the head gasket, water pump, cylinder and piston timing.

Automotive Coolant Market Dynamics

Drivers

• Growing demand for propylene glycol

Propylene glycol is used in hydraulic fluids and fire-resistant brake as a coolant in the transportation sector for engine cooling. This is widely used as a raw material for de-icing planes and as a heat transfer fluid for high-temperature applications. The rising demand of propylene glycol is expected to boost the growth of the automotive coolant market.

• Development of automotive sector

Growing production of vehicles both in emerging and developed economies is one of the major factors recognized to the growth of the automotive coolant market globally. For instance, according to the International Organization of Motor Vehicle production, the total number of vehicles manufactured in 2016 was 95 million units, which augmented to 97 million units in 2017, globally. Therefore, growing number of vehicles on road is leading the demand for automotive coolant which is anticipated to increase the market growth rate during the forecast period of 2022-2029.

Opportunities

• Growing usage of ethylene glycol in automotive industry

The rising demand for ethylene glycol in the automotive industry is anticipated to increase the growth of the global automotive coolant market. Ethylene glycol has a significantly lower melting point than water, which keeps engines of ethylene from freezing in the winter and works as a coolant to avoid overheating in the summer. Also, ethylene glycol is used in vehicles to absorb combustion heat which is expected to generate lucrative opportunities for the global automotive coolant market.

Furthermore, the growing sales and production of vehicles in developing nations and the flourishing automotive industry all over the globe will foster several new opportunities that will boost the growth of the automotive coolant market during the forecast period.

Restraints/ Challenges

• Side effects associated with automotive coolants

The toxicity of the ethylene glycol which is used as the basic fluid and used as antifreeze poses a risk to both the environment and human health. Heavy metals such as lead, chromium cadmium and others are present in high concentrations in waste antifreeze, which is also harmful for the environment. Thus, providers and OEMs face many challenges regarding recycling coolant which will also hamper the market's growth rate during the forecast period.

This automotive coolant market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive coolant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Automotive Coolant Market

The outbreak of covid-19 had an adverse impact on the automotive coolant market. The severe disruptions in many manufacturing processes and supply-chain operations has majorly affected the market growth rate. Several precautionary lockdowns imposed by governments to curb the spread of disease led to massive financial setbacks for the market. Moreover, people are now more focused on removing non-essential expenses from their budgets, which has decreased the demand for the automotive coolant. Moreover, with the ongoing lifting up of the lockdown and the novel coronavirus under control, the global automotive coolant market can pick up speed in upcoming years.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In October 2021, Gulf Oil launched a new series of e-fluids for Electric and Hybrid passenger cars. These fluids were found in several markets, including China, the Middle East, and Europe earlier in 2022, whereas Hinduja will launch this series in the Indian market. One of the major products, the eLEC Coolant, aids in cooling electric vehicles' batteries and supports keeping them cool even under adverse situations.
• In November 2021, Redline Detection, the famous developer of diagnostic leak detection technology in the global industry, approved manufacturing a new diagnostic leak detection technology that works mainly in battery electric vehicles.
• December 2020, Recochem, a well-known manufacturer and distributor of automotive aftermarket fluids has recently acquired KOST USA Inc. This company is the third biggest manufacturer of auto coolants in the U.S. KOST is known for its light-duty coolants as well as various functional fluids across the automotive aftermarket channels.

Global Automotive Coolant Market Scope

The automotive coolant market is segmented on the basis of technology, product, vehicle type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Inorganic Acid Technology (IAT)
• Organic Acid Technology (OAT)
• Hybrid Organic Acid Technology (HOAT)

 Product

• Ethylene Glycol
• Propylene Glycol
• Glycerine

 Vehicle Type

• Passenger Cars
• Heavy Commercial Vehicles
• Light Commercial Vehicles

End User

• Original Equipment Manufacturer (OEM)
• Automotive Aftermarket

Automotive Coolant Market Regional Analysis/Insights

The automotive coolant market is analyzed and market size insights and trends are provided by country, technology, product, vehicle type and end user as referenced above.

The countries covered in the automotive coolant market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the automotive coolant market in terms of market share and revenue. This is due to the easy availability of the basic resources such as raw materials and labour and high number of vehicles on road in this region.

Europe is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the high production associated with the high application of vehicles in this region. Furthermore, increasing consumer awareness regarding the advantages of recycled resources with sustainability will likely boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Coolant Market Share Analysis

The automotive coolant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive coolant market.

Some of the major players operating in the automotive coolant market are:

• Valvoline (U.S.)
• Exxon Mobil Corporation (U.S.)
• BASF SE (Germany)
• TotalEnergies (France)
• Chevron Corporation (U.S.)
• Shell Plc (U.K.)
• OLD WORLD INDUSTRIES  (U.S.)
• Prestone Products Corporation (U.S.)
• Arteco (U.S.)
• Recochem Corporation (Canada)
• MOTUL (France)
• BP PLC (U.K.)
• Chevron Corporation (U.S.)
• Valvoline Inc. (U.S.)
• Sinopec (China)
• Castrol Limited (U.K.)