Antifreeze Coolant Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Ethylene Glycol, Propylene Glycol, Glycerol, Methanol, and Others), By Technology (Inorganic Acid Technology (IAT), Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT), Nitrated Organic Acid Technology (NOAT), and Others), By Application (Automobile, Aerospace, Industrial, Construction, Electronics, and Others), and Region

Antifreeze Coolant Market size is expected to be valued at US$ 5,826.2 million in 2023 and is poised to grow at a significant CAGR of 2.2% over 2024 to 20230. An antifreeze coolant is a liquid or gaseous substance, that is used to reduce or regulate the extreme temperature of a system. An ideal coolant has the high thermal capacity and low viscosity and has the capacity for corrosion prevention. It should be low-cost, non-toxic, and chemically inert. Coolant is pumped throughout the engine block to maintain an even operating temperature as the temperature outside changes from hot to cold coolant. Antifreeze is an additive that lowers the freezing point of the liquid. Engine coolant is mixed with water, usually at a 50/50 ratio, and poured into the proper reservoir in your engine. The increasing number of vehicles is boosting the antifreeze coolant market growth.

According to Global Data's estimates Toyota, along with its affiliate companies, sold over 10.07 million light vehicles in 2021. The increasing demand for Heating, ventilation, and air conditioning (HVAC) technology further pushes the antifreeze cooling market. Moreover, development in engine and technology innovation and various applications in automotive, aerospace, and industries have fueled the antifreeze coolant market demand. However, the rising environmental concerns and increasing demand for zero carbon emissions vehicles result in low acceptance of antifreeze coolants and are anticipated to restrict the market growth. On the basis of geography, Asia Specific region is dominating the global antifreeze coolant market. It is attributed to the rising demand for antifreeze coolants in the automotive industry. North America is also holding a major market share in 2021 due to the high adoption rate of Inorganic Acid Technology (IAT) and Organic Acid Technology (OAT). It is anticipated that North America will follow the trend in the forecasted years.  

Antifreeze Coolant Market Recent Market Developments:

• In Aug 2022, Valvoline is one of the leading global lubricant manufacturers and they launched an innovative coolant. The new Valvoline advanced coolant supports all cars and commercial vehicles and provides a 5-year or up to 5,00,000km drain interval.
• In June 2021, Chevron Products Company announced the official rollout of the company's new Chevron Xpress lube program for qualifying U.S. fast lube owners and investor prospects.