Antifreeze/Coolant Market

Antifreeze or coolant is a key component in automotive cooling systems. The market for antifreeze and coolant is growing as the industry transitions to new technologies. This report offers an in-depth view of the market, with country-level data and an analysis of key players. Players in the antifreeze and coolant market are profiting from rising demand for their services across industries.

The global antifreeze and coolant market is anticipated to grow at a CAGR of **% during the forecast period of 2019–2031. The market researcher believes that increasing awareness of environmental issues and mandates from governing bodies will drive market growth in this region.

The factors leading to the growth of this market are increasing awareness about the importance of maintaining vehicle engine efficiency, increased purchasing power of motorists, an increase in the number of passenger vehicles on the road, and stringent environmental regulations. Industry players are capitalizing on the growing need for cooling systems for electric vehicles as well as thermal management systems for industrial applications.

Some key factors that are driving the growth of the antifreeze and coolant market include BP Plc, Royal Dutch Shell Plc, Chevron Corporation, ExxonMobil Corporation, Total S.A., Petronas, Lukoil, BASF SE, Valvoline Inc., and Cummins Inc.