Report : South America Antifreeze Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Ethylene Glycol, Propylene Glycol, Glycerin and Methanol); Technology Type (Organic Acid Technology Antifreeze (OAT), Inorganic Acid Technology Antifreeze (IAT) and Hybrid Organic Acid Technology (HOAT)); Application (Automobile, Construction, Electronics and Others)
At 4.4% CAGR, the SAM Antifreeze Market is speculated to be worth US$ 519.51 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM antifreeze market was valued at US$ 400.16 million in 2022 and is expected to reach US$ 519.51 million by 2028, registering an annual growth rate of 4.4% from 2022 to 2028. Investment in R&D and initiatives by market players and environment-friendly and bio-based antifreeze are the critical factors attributed to the market expansion.
Market players in the antifreeze market are focusing on investing in R&D to expand product portfolio and attain a competitive edge. New product development, strategic alliances, and enhancement of the product landscape are the key initiatives in the antifreeze market. For instance, in January 2019, Total S.A. launched an advanced grease STATERMIC X400, which is nonflammable, has a long life, and is designed for high-temperature textile applications. Further, in April 2021, XING Mobility partnered with Castrol to enrich its product line and strengthen its market position. Further, PEAK announced the launch of PEAK antifreeze coolant, which helps in extending the life of automobiles when used. The product is made from scale-fighting inhibitors and organic acid corrosion inhibitors, which offer protection from corrosion throughout the life of the products. Companies such as BASF SE, Chevron Corporation, and Dow dominate the market. These companies are indulged in developing more cost-effective antifreeze, which helps reduce carbon footprint. Therefore, continuous investment in R&D and initiatives by market players is expected to drive the market growth.
On the contrary, volatility in raw material prices hurdles the growth of SAM antifreeze market.
- Based on coolant type, the SAM antifreeze market is segmented into ethylene glycol, propylene glycol, and glycerin and others. The ethylene glycol segment held 62.7% market share in 2022, amassing US$ 250.90 million. It is projected to garner US$ 324.23 million by 2028 to expand at 4.4% CAGR during 2022–2028.
- Based on technology, the SAM antifreeze market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology and others. The organic acid technology segment held 72.3% market share in 2022, amassing US$ 289.26 million. It is projected to garner US$ 374.12 million by 2028 to expand at 4.4% CAGR during 2022–2028.
- Based on application, the SAM antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing and others. The automobiles segment held 65.0% market share in 2022, amassing US$ 259.99 million. It is projected to garner US$ 344.10 million by 2028 to expand at 4.8% CAGR during 2022–2028.
- Based on distribution channel, the SAM antifreeze market is segmented into original equipment manufacturers (OEMs), aftermarket, and retail and others. The aftermarket segment held 63.2% market share in 2022, amassing US$ 253.03 million. It is projected to garner US$ 327.57 million by 2028 to expand at 4.4% CAGR during 2022–2028.
- Based on country, the SAM antifreeze market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 78.5% market share in 2022. It was assessed at US$ 313.95 million in 2022 and is likely to hit US$ 411.26 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.
Key players dominating the SAM 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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