Report : Europe Antifreeze Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Coolant Type (Ethylene Glycol, Propylene Glycol, and Glycerin and Others), Technology (Inorganic Additive Technology, Organic Acid Technology, and Hybrid Organic Acid Technology and Others), Application (Automobiles, Industrial Heating/Cooling, Energy, and Manufacturing and Others), and Distribution Channel [Original Equipment Manufacturers (OEMs), Aftermarket, and Retail and Others]
At 5.4% CAGR, the Europe Antifreeze Market is speculated 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.
- Based on coolant type, the Europe antifreeze market is segmented into ethylene glycol, propylene glycol, and glycerin and others. The ethylene glycol segment held 56.5% market share in 2022, amassing US$ 812.54 million. It is projected to garner US$ 1,131.48 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on technology, the Europe antifreeze market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology and others. The organic acid technology segment held 61.5% market share in 2022, amassing US$ 884.25 million. It is projected to garner US$ 1,225.17 million by 2028 to expand at 5.6% CAGR during 2022–2028.
- Based on application, the Europe antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing and others. The automobiles segment held 69.6% market share in 2022, amassing US$ 1,000.33 million. It is projected to garner US$ 1,394.88 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on distribution channel, the Europe antifreeze market is segmented into original equipment manufacturers (OEMs), aftermarket, and retail and others. The aftermarket segment held 61.1% market share in 2022, amassing US$ 877.43 million. It is projected to garner US$ 1,217.17 million by 2028 to expand at 5.6% CAGR during 2022–2028.
- Based on country, the Europe antifreeze market has been categorized into the UK, Germany, France, Italy, Russia, and rest of Europe. Our regional analysis states that rest of Europe captured 43.1% market share in 2022. It was assessed at US$ 619.94 million in 2022 and is likely to hit US$ 827.03 million by 2028, exhibiting a CAGR of 4.9% during the forecast period.
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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