Market Introduction
Antifreeze is an essential engine coolant that helps regulate temperatures in cars. It also helps to prevent corrosion in engines. Antifreeze is always colored; however, the hue changes from one product to another. Vehicles use a 50/50 mixture of antifreeze and water. Some antifreeze is pre-mixed and already contains the necessary water. Antifreeze may also contain additives such as silicates, nitrates, azoles, or borates to prevent oxidation and corrosion.
Market Overview and Dynamics
Europe and Middle East & Africa antifreeze market size was valued at US$ 1,712.49 million in 2022 and is projected to reach US$ 2,327.46 million by 2028; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.
The growing construction activities and sales of construction equipment is driving the Europe and Middle East & Africa antifreeze market. 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. 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. In Europe and the Middle East & Africa, the government and private sectors are making huge investments in the construction of new residential and commercial buildings, which is supporting the construction industry. The increasing urbanization in the Middle East & Africa is creating a huge demand for residential infrastructure, contributing to the construction equipment market growth. Due to the Vision 2030 and NTP 2020, Saudi Arabia's construction sector is witnessing significant growth, which has created lucrative opportunities for construction equipment and positively impacted the growth of the antifreeze market in the region.
Key Market Segments
Based on technology, the Europe and Middle East & Africa antifreeze market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology & others. Europe and Middle East & Africa antifreeze market share for the organic acid technology segment was largest in 2021. The various organic acid technology coolant types include nitrited organic acid technology, phosphate organic acid technology, and silicated organic acid technology. Organic acid technology (OAT) coolants make use of carboxylic acids as the main inhibitors within their product.
Based on application, the Europe and Middle East & Africa antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing & others. Europe and Middle East & Africa antifreeze market share for the automobiles segment was largest in 2021. Automobiles are one of the major application areas of antifreeze or coolants. Antifreeze is used in cars, trucks, boats, and buses. It is used in car engines to prevent the engine's cooling system from freezing and overheating.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on Europe and Middle East & Africa antifreeze market are paid databases (factiva), publications, hoovers, investor presentations, newsletters, sec archives, annual reports, and other information available n the public domain. Wacker Chemie AG, BASF SE, Chevron Corporation, Dow Inc., EXXON MOBIL CORPORATION, CCI Corporation, Old World Industries, Prestone Products Corporation, Valvoline LLC, and Shell plc are among the major players operating in the Europe and Middle East & Africa antifreeze market.
Reasons to Buy Report
Europe and Middle East & Africa antifreeze market Segmentation
Based on coolant type, the antifreeze market is segmented into ethylene glycol, propylene glycol, and glycerin & others. In terms of technology, the antifreeze market is segmented into inorganic additive technology, organic acid technology, and hybrid organic acid technology & others. Based on application, the antifreeze market is segmented into automobiles, industrial heating/cooling, energy, and manufacturing & others. In terms of distribution channel, the antifreeze market is categorized into original equipment manufacturers (OEMs), aftermarket, and retail & others. By geography, the antifreeze market is further segmented into Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe) and the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa).
Company Profiles
Wacker Chemie AG, BASF SE, Chevron Corporation, Dow Inc., EXXON MOBIL CORPORATION, CCI Corporation, Old World Industries, Prestone Products Corporation, Valvoline LLC, and Shell plc are among the major players operating in the Europe and Middle East & Africa antifreeze market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,712.49 Million |
| Market Size by 2028 | US$ 2,327.46 Million |
| CAGR (2022 - 2028) | 5.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Coolant Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
- BASF SE
- Chevron Corporation
- CCI Corporation
- Dow
- Old World Industries, LLC
- Prestone Products Corporation
- Royal Dutch Shell Plc
- ExxonMobil Corporation
- Trychem FZCO
- Sumitomo Chemical Co., Ltd.
The Europe and Middle East & Africa Antifreeze Market is valued at US$ 1,712.49 Million in 2022, it is projected to reach US$ 2,327.46 Million by 2028.
As per our report Europe and Middle East & Africa Antifreeze Market, the market size is valued at US$ 1,712.49 Million in 2022, projecting it to reach US$ 2,327.46 Million by 2028. This translates to a CAGR of approximately 5.2% during the forecast period.
The Europe and Middle East & Africa Antifreeze Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe and Middle East & Africa Antifreeze Market report:
The Europe and Middle East & Africa Antifreeze Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe and Middle East & Africa Antifreeze Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe and Middle East & Africa Antifreeze Market value chain can benefit from the information contained in a comprehensive market report.
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