Automotive Coolant Market

Automotive Coolant Market by Chemical Types (Propylene Glycol and Ethylene Glycol), Vehicle Types (Commercial Vehicle and Passenger Car), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: AL-4363
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 222
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The global automotive coolant market size was valued at USD 4653.1 million in 2020 and is expected to expand at a CAGR of 5.1% during the forecast period, 2021–2028. The growth of the market is attributed to the global automotive industry's expansion.

Automotive Coolant Market Key Takeaways

Liquid coolants are mechanisms used to handle the heat in vehicle due to internal combustion in engines. The coolant avoids corrosion in the cooling system by removing excess heat from the engine and reducing long-term harm to the engines. The right combination of propylene glycol, ethylene, and water is employed to make the automobile system more efficient. The temperature of the automobile is regulated by automotive coolant, which absorbs and dissipates heat through the radiator. Moreover, it aids in the reduction of the number of automobile repairs and maintenance. Excessive usage and contamination with impurities causes the metal components to overheat, resulting in engine failure. Furthermore, tight regulatory requirements for the safe disposal and recycling of antifreeze material have encouraged end-user acceptability of reusable coolant kinds.

The COVID-19 pandemic had a significant negative impact on the world economy and shattered the market due to sudden closure of manufacturing units of the automotive industry. During the pandemic, several studies reported that the new automobile registrations worldwide were on sharp decline.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing consumers’ disposable income and their changing lifestyle has resulted in a surge in demand for passenger automobiles. This is a key factor that drives the market.
  • Wide expansion of international trade volume boosts the transportation services. This leads to increase the demand for commercial vehicles, which presents another key driver of the market.
  • Ample availability of different components such as ethylene glycol, propylene glycol, and glycerin especially in developed nations is projected to boost the market in the coming years.
  • Crude oil prices are volatile or unexpected price difference have a detrimental influence on petrochemical production, which can hamper the market growth.
  • Rising new entrants in developing innovative products and massive expenditures on R&D programs to produce cost-effective, environmentally friendly, and long-lasting products are creating lucrative opportunities in the market expansion.

Scope of the Report

The report on the global automotive coolant market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Automotive Coolant Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Chemical Types (Propylene Glycol and Ethylene Glycol), and Vehicle Types (Commercial Vehicle and Passenger Car)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

BP PLC (Castrol); Valvoline Inc.; Royal Dutch Shell PLC; ExxonMobil Corp.; and Chevron Corporation

Market Segment Insights

Propylene glycol segment to expand at a considerable CAGR

On the basis of chemical types, the automotive coolant market is bifurcated into propylene glycol and ethylene glycol. The propylene glycol segment is projected to expand at a considerable CAGR during the forecast period due to increasing demand for high-quality coolant and antifreeze bio-based products. On the other hand, the ethylene glycol segment is anticipated to account for a major market share during the forecast period as increasing demand of ethylene glycol to manufacture for plastic-based product parts.

Automotive Coolant Market By Chemical Types

Passenger Car segment to hold a significant share of the market

In terms of vehicle types, the market is divided into commercial vehicle and passenger car. The passenger car segment is expected to hold a significant share of the market during the forecast period due to an increase in utility vehicle demand in densely populated nations such as China, India, and Brazil. However, the commercial vehicle segment is projected to account for a key market share due to growing consumers’ demand for private transportation.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the automotive coolant market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to the increased number of cars manufactured in key nations such as India, China, and Japan. Moreover, the availability of key factors such as reduced production and labor costs across the region presents another key aspect for the segment growth. However, the market of North America is anticipated to expand at a rapid pace during the forecast period owing to the consumer knowledge of the benefits of recycled materials as well as sustainability production substances.

Automotive Coolant Market By Regions

Segments

The global automotive coolant market has been segmented on the basis of

Chemical Types
  • Propylene Glycol
  • Ethylene Glycol
Vehicle Types
  • Commercial Vehicle
  • Passenger Car
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Competitive Landscape

Key players competing in the automotive coolant market are BP PLC (Castrol); Valvoline Inc.; Royal Dutch Shell PLC; ExxonMobil Corp.; and Chevron Corporation. The worldwide automotive coolant market is highly concentrated due to the domination of market share by only a few major players. These corporations are concentrating on geographic growth in order to expand their consumer base and generate more sale revenues. For example, Valvoline acquired 16 service locations in Texas in April 2021, expanding its company-owned Quick-Lube Network.

Automotive Coolant Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Coolant Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Coolant Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Coolant Market - Supply Chain
  4.5. Global Automotive Coolant Market Forecast
     4.5.1. Automotive Coolant Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Coolant Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Automotive Coolant Market Absolute $ Opportunity
5. Global Automotive Coolant Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Coolant Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Coolant Demand Share Forecast, 2019-2026
6. North America Automotive Coolant Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Coolant Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Coolant Demand Share Forecast, 2019-2026
7. Latin America Automotive Coolant Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Coolant Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Coolant Demand Share Forecast, 2019-2026
8. Europe Automotive Coolant Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Coolant Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Coolant Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Coolant Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Coolant Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Coolant Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Coolant Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Coolant Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Coolant Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Coolant Market: Market Share Analysis
  11.2. Automotive Coolant Distributors and Customers
  11.3. Automotive Coolant Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. BP PLC (Castrol) Valvoline Inc. Royal Dutch Shell PLC ExxonMobil Corp. Chevron Corporation
The global automotive coolant market has been segmented on the basis of

Chemical Types
  • Propylene Glycol
  • Ethylene Glycol
Vehicle Types
  • Commercial Vehicle
  • Passenger Car
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Key players competing in the automotive coolant market are BP PLC (Castrol); Valvoline Inc.; Royal Dutch Shell PLC; ExxonMobil Corp.; and Chevron Corporation. The worldwide automotive coolant market is highly concentrated due to the domination of market share by only a few major players. These corporations are concentrating on geographic growth in order to expand their consumer base and generate more sale revenues. For example, Valvoline acquired 16 service locations in Texas in April 2021, expanding its company-owned Quick-Lube Network.

Automotive Coolant Market By Key Players

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