Increasing vehicle production, parc, and demand for extended life engine coolants are the key factors driving the global antifreeze market. In addition, increased stringency of safety regulations is driving the demand for bio-based products and biodegradable additives that can be disposed without harming the environment. According to MarketsandMarkets analysis, the antifreeze market for original equipment is projected to grow at a CAGR of 5.18% during the forecast period, to reach USD 885.1 million by 2021.
The suppliers of antifreeze and engine coolants are extensively investing in R&D activities to develop advanced bio-based glycols that can be used as a base product in antifreeze. For instance, a glycol named 1,3-Propanediol (PDO) is manufactured from plant derived glucose instead of crude oil. This bio-based engine coolant and antifreeze is used in passenger cars and other light and heavy-duty vehicles. The coolant, made with bio-based glycols, offers lower maintenance, prevention from early degradation, and increased replacement miles.
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North America is estimated to be the fastest growing antifreeze market for original equipment. The growth of this market can be attributed to increasing production of light-duty vehicles in the region, which in turn creates demand for Organic Acid Technology (OAT) additives, Hybrid Organic Acid Technology (HOAT), and bio-based glycols. Owing to the weather conditions in North America, OEMs recommend a 50:50 ratio of antifreeze to water to avoid engine coolant freezing at cold temperatures. The demand for propylene glycol as the base product is the largest in this region, owing to the pet-friendly nature of these products along with the growing popularity of non-toxic alternatives.
Glycerin-based products are expected to witness the highest growth in the antifreeze market. The factors responsible for the growth of this market are growing stringency of safety regulations, which have made OEMs shift to environment-friendly base product alternatives. Glycerin is produced as a by-product of biodiesel, which makes it environment-friendly and cost-effective than ethylene glycol. While glycerin is still in the introduction phase, it is slowly penetrating the global antifreeze market. Europe and North America have the highest demand for glycerin, which is further projected to increase in the coming years.
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Organic Acid Technology (OAT) is projected to grow at the highest rate in the engine coolant aftermarket. North America and Europe are expected to contribute the maximum share in the global OAT engine coolant aftermarket. OAT is based primarily on carbon-based molecules, typically organic acids, which help in enhancing the heat transfer and improve the thermal properties of engine coolant. OAT also helps to eliminate the need for frequent replacement of engine coolant. This is because the engine coolant with OAT has a higher replacement life, as compared to conventional additive technology. Additionally, OAT-based engine coolants are biodegradable and non-toxic, leading to their increased demand globally.
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