
Published On: Nov 2022
Published On: Nov 2022
At 5.4% CAGR, the Europe Antifreeze Market is projected to be worth US$ 1,965.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe antifreeze market was valued at US$ 1,436.95 million in 2022 and is expected to reach US$ 1,965.00 million by 2028, registering an annual growth rate of 5.4% from 2022 to 2028. Growing construction activities and sales of construction equipment and increasing vehicle production and aftermarket for antifreeze and engine coolants are the critical factors attributed to the market expansion.
Increasing residential, industrial, and commercial construction activities and rising government investments in infrastructure development have surged the sales of construction equipment. Also, there is a significant shift from traditional equipment to automated as consumers are retrofitting and renovating the old technology. In construction equipment, antifreeze agents are used to prevent freezing. Another benefit of antifreeze is in cement, as it allows the operation below the freezing point. Construction equipment require periodic coolant analysis, which also provides important information about the machine's condition. Further, construction equipment can efficiently carry out heavy-duty work. The booming infrastructure projects and rising use of heavy-duty excavators and other machinery for building dams and highways are fueling the demand for antifreeze in construction equipment. Government and private sectors in the countries are making huge investments in the construction of new residential and commercial buildings, which is supporting the construction industry. The increasing urbanization in the emerging economies is creating a huge demand for residential infrastructure, contributing to the increase in the demand of construction equipment, which is supporting the antifreeze market growth across the region.
On the contrary, volatility in raw material prices hurdles the growth of Europe antifreeze market.
Key players dominating the Europe antifreeze market are BASF SE, CCI Corporation, Chevron Corporation, Dow Inc., Exxon Mobil Corporation, Old World Industries, Prestone Products Corporation, Shell plc, Valvoline LLC, and Wacker Chemie AG among others.
In 2022, Valvoline launches advanced coolant with OAT tech.
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