Automotive Coolant Market - Forecast(2023 - 2028)

Automotive coolants are mainly used to reduce overheating. Coolants are primarily used in passenger vehicles and commercial vehicles for cooling the systems and simultaneously delivering optimum engine performance. Automotive Coolants are classified into various products such as Ethylene Glycol, Propylene Glycol, and so on. The Automotive Coolant Market is estimated to grow at a CAGR of 5.42% during the forecast period 2018–2023. The APAC Automotive Coolant market is estimated to record the highest CAGR of 6.81% during the forecast period owing to the widespread adoption of the distributed ledger technology across various applications in this region. 

An Automotive Coolant is a fluid that flows through a device to prevent overheating and transfer of heat. Automotive coolants are employed in all types of vehicles such as passenger cars, commercial vehicles, and heavy commercial vehicles. The commercial vehicle segment revenue is estimated to reach $677.6m by 2023, growing at a CAGR of 6.05% during the forecast period. Based on volume, the segment is projected to grow at a CAGR of 7.39% during the forecast period. The growth of the market van be majorly attributed to the increasing concerns on pollutant emissions from diesel-powered vehicles.

Stringent environmental regulations, expansion of the automotive aftermarket, and growing consumer awareness about the maintenance of automobiles are set to drive the market growth. Moreover, regulatory frameworks regarding antifreeze disposal and recycling have compelled the manufacturers to adopt sustainable and environmentally friendly materials in the automobile industry, thus propelling the growth of the automotive coolant market.

Price fluctuations of the raw materials that are used in coolants are the major challenges faced by coolant manufacturers. The price of a coolant ranges from $6 to $18 per gallon. The factors that affect the prices of automotive coolants include raw materials price, manufacturing cost, labor cost, energy cost and others. Ethylene and propylene are the major raw materials used in the production of coolants. The prices of these feedstock are dependent on the prices of natural gas and crude oil in the market. Instability in the price of crude oil due to unstable supply–demand has impacted the prices of coolants.

Automotive Coolant Market Share, By Application, 2017

 

 

 

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the automotive coolant market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of coolants and their specific applications in the automotive industry.

Coolant Types in the Automotive Coolant Market: Synthetic Coolant, Oil Coolant, and Liquid Coolant  

Products in the Automotive Coolant Market: Ethylene Glycol, Propylene Glycol, and Others 

Applications in Automotive Coolant Market: Passenger Vehicles, and Commercial Vehicles. 

The Automotive Coolant market report also analyzes the global region for the market. The regions and countries covered in the study include:

Chevron Corporation is a major company that manufactures Automotive Coolants in bulk.  The company has its headquarters in the U.S. and operates in North America, South America, EMEA and Asia-Pacific regions. 

Royal Dutch Shell is the next leading player in the Automotive Coolant market. The company is headquartered in The Netherlands, and has businesses in regions such as APAC, EMEA, North America, and South America.