Automotive Coolant Market Research Report 2022 - 2030 In-Depth Industry Analysis by Applications, Demands, Sales and Co

Overview:

Market Scope

Market Research Future (MFRF) analyzed the global Automotive Coolant Market 2021 in the review period. According to MRFR study, the automotive coolant market is expected to rise at 4% CAGR in the forecast period (2019 to 2025). By 2025, the automotive coolant market value is likely to touch USD 9.7 Bn.

Market Drivers and Restrains

The automotive coolant industry growth can be attributed to the availability of a robust automotive aftermarket solutions. The soaring sales of different types of commercial vehicles across the globe is observed to foster the need for automotive coolants, which in turn can favor the market rise.

In rise in the number of research activities to produce high quality automotive coolants and the constant technical innovations of composition materials can favor the market upsurge in the study period. The escalating need for coolants and the rise in the utility of modern technologies, such as; Hybrid Organic Acid Technology (HOAT), Organic Acid Technology (OAT), and Inorganic Acid Technology (IAT), to accelerate production of high quality coolant can benefit the automotive coolant market in the near future.

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Turkey, Argentina, Brazil, and India are some countries that are observed to hold lucrative opportunities for new automobile industry players that can support expansion of the automotive coolant market. Rise in population, improvement in socio-economic status, expansion of e-commerce sector, rapid automobile infrastructure development due to rise in demand for vehicle fleet are other causes that can promote the automotive coolants market in the years to come.

Price volatility of crude oil can have a negative impact on the production and sales of petrochemicals products, which, in turn, can impact the production of ethylene glycol and propylene glycol. Thus, issues with prices of chief raw materials can pose significant challenge to the rise of automotive coolant market in the review tenure.

Market Drivers and Restrains

Regional Analysis:

The region-specific analysis of the global market reveals the Asia Pacific market as the largest one. The report published in 2016 corroborates the claim. In the region, markets like China, Japan, India, and others are expected to contribute sufficiently to the regional market growth. These countries are becoming major consumers of passenger vehicles and commercial vehicles, North America is one of the major consumers of the automotive, owing to which the regional market for automotive coolant is going to flourish. The regional market to find the US and Canada as major contributors. The regional market is also expected to benefit from high number of manufacturers of both automotive and coolants. Europe has a robust automotive industry with several global players coming out of the region as major market traction providers. High car owning capacity of the people from the region is also going to establish the regional market as a major contributor to the global market growth. The UK, France, Germany, and others are making moves to increase the impact the region already has on the market.

Competitive Landscape:

Prominent players taking part in the global automotive coolant market are Exxon Mobil Corp (US), Total S.A (France), Castrol Limited (UK), Sinopec Lubricant Company (China), Royal Dutch Shell plc (Netherlands), Sinclair Oil Corporation (US), Ashland (US), Chevron Corporation (US), Havoline (US), and British Petroleum (UK). MRFR included these names in the report on the automotive coolant to track their recent progress and gauge market trends that can notably take the global market forward.

In August 2019, BMW launched its new BMW 3 series in India. The market is expected to gain hike in the coming years and can provide high traction to the BMW coolant series as well.

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In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.

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