The increasing deployment of anti-freezing agents in internal combustion engines is one of the principal factors that will stimulate coolant market share over the years ahead. Coolants maintain the temperature of engine cooling oil at the desired level, which tends to increase the overall performance of an engine. Lately, a massive change has been observed in the design of conventional engine cooling systems subject to the development of advanced cooling technologies. This in consequence, will have a remarkable impact on coolant industry share. Renowned coolant manufacturers have also been investing heavily in research and development activities in order to develop advanced products that match the current requirement of end users – say for instance, low toxic antifreeze with high corrosion resistance capability is being developed as per consumer demands. In essence, the increasing adoption of commercial as well as passenger vehicles across the globe is slated to massively fuel antifreeze market, which held a revenue share of USD 4 billion in 2016.
Speaking about the modern technologies used in cooling systems of engines, many automakers have installed organic acid technology-based cooling systems in heavy as well as light duty vehicles for improving engine lifespan. In fact, pertaining to the increasing deployment of OAT technology in most of the automobile engines, organic acid technology-based antifreeze industry is likely to register an annual growth rate above 50% over the coming years. In addition, considering the overall weight of modern engines and the energy efficiency factor, automakers are giving preference to magnesium and aluminum-based engines that deploy cooling systems with organic acid technology for improving engine performance. Indeed, the escalating use of OAT technology in modern engines is slated to have considerable influence on coolant market outlook over the years ahead.
The report titled “Antifreeze Market Size By Product, By Technology, By, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” has been published in January 2018. To understand the industry better, request a sample of this report @ https://www.gminsights.com/request-sample/detail/2203
In various automobiles, antifreeze agents are mainly used for maintaining engine temperature. In order to deal with the excessive heat generated during engine combustion, it is essential that antifreeze agents possess various properties such as low viscosity, non-toxicity, anti-corrosiveness, chemical inertness, and higher thermal conductivity. In this regard, ethylene glycol has come to be used as a prominent coolant. As per estimates, in 2016, ethylene glycol covered 55% of antifreeze industry share.
Major aircraft manufacturers Airbus and Boeing have predicted that over the coming years the demand for fleets across the Asia Pacific region is poised to increase tremendously, owing to the rising investment in aerospace sectors. In addition, the demand for automobiles has also increased across APAC due to rise in consumer spending capabilities, which will contribute toward propelling Asia Pacific coolant market. In 2016, APAC antifreeze market accounted for nearly half of the global share. Increasing investments for the socio-economic development across this region is likely to augment APAC coolant industry size over the years ahead.
As of now, the growing consciousness among users with regards to the toxicity of antifreeze additives and the deployment of a stringent regulatory framework have prompted pivotal players in coolant market to develop eco-friendly and less toxic cooling agents. In addition, many coolant manufacturers are focusing on the development of antifreeze agents based on coolant specification standards framed by reputed automakers. The shifting trends toward new product development in order to comply with changing customer requirements in tandem with the rising number of regulation enforcements are thus certain to stimulate overall coolant market size considerably.