Market Research Future (MRFR) has published a cooked research report on the “Global Automotive Coolant Aftermarket” that contains information from 2023 to 2032. The Global Automotive Coolant Aftermarket is estimated to register a CAGR of 4.19% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Global Automotive Coolant Aftermarket— Valvoline Inc, Exxon Mobil Corporation, BASF SE, Total, Chevron Corporation, Royal Dutch Shell, OLD WORLD INDUSTRIES, LLC, Prestone Products Corporation, Arteco, AMSOIL INC, Recochem Corporation, and Motul.
Automotive Coolant Aftermarket Highlights
The Global Automotive Coolant Aftermarket is accounted to register a CAGR of 4.19% during the forecast period and is estimated to reach USD 1.69 Billion by 2032.
The Automotive Coolant Aftermarket refers to the market for replacement or supplementary coolant products and solutions used in vehicles after the original manufacturer's coolant has been depleted or requires maintenance. This aftermarket segment provides consumers with a range of coolant options that can include various types of engine coolant formulations, antifreeze solutions, and additives designed to regulate engine temperature, prevent freezing, protect against corrosion, and maintain optimal engine performance. The automotive coolant aftermarket caters to vehicle owners who seek to ensure their vehicles' cooling systems continue to function efficiently by offering compatible coolant products as alternatives to the manufacturer-recommended options.
Segment Analysis
The Global Automotive Coolant Aftermarket has been segmented based on Technology, Product, and Vehicle Type.
Based on Technology, the market is segmented into Inorganic Additive Technology (IAT), Organic Additive Technology (OAT), and Hybrid Organic Acid Technology (HOAT). The dominance of the Inorganic Additive Technology (IAT) category in the Automotive Coolant Aftermarket is attributed to its established performance, cost-effectiveness, and compatibility with a wide range of vehicles.
Based on Product, the market is segmented into Ethylene Glycol, Propylene Glycol, and Glycerin. The dominance of the Ethylene Glycol category in the Automotive Coolant Aftermarket is attributed to its efficient heat transfer properties and wide application compatibility.
Based on Vehicle Type, the market is segmented into Passenger Cars, Heavy Commercial Vehicles, and Light Commercial Vehicles. The dominance of the Passenger Cars category in the Automotive Coolant Aftermarket is driven by the higher volume of consumer vehicles and their regular maintenance needs.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Automotive coolant aftermarket Market Trends
Regional Analysis
The Global Automotive Coolant Aftermarket, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Automotive Coolant Aftermarket comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Automotive Coolant Aftermarket in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Automotive Coolant Aftermarket comprises of Middle East, Africa, and Latin America.
In 2022, the Asia-Pacific Automotive Coolant Aftermarket asserted its dominance with a substantial share of 45.80%, driven by a surge in vehicle sales across the region. Notably, China's Car radiator fluid segment claimed the largest market share, while the Indian Automotive Coolant Aftermarket emerged as the fastest-growing in the Asia-Pacific area.
The Europe Automotive Coolant Aftermarket is projected to experience rapid growth with the highest compound annual growth rate (CAGR), attributed to the increasing presence of local manufacturers within the region. In Europe, the German Automotive Coolant segment commanded the largest market share, while the UK Automotive Coolant sector exhibited the fastest growth.
The North America Automotive Coolant segment held a significant market share, closely tied to the vehicle count on roads. As global vehicle sales, especially in emerging economies, continue to climb, the demand for coolant products rises in tandem. Within North America, the U.S. Automotive Coolant category claimed the largest market share, and the Canadian Armor Materials market exhibited the fastest growth.
Key Findings of the Study
- The Global Automotive Coolant Aftermarket is expected to reach USD 1.69 Billion by 2032, at a CAGR of 4.19% during the forecast period.
- In 2022, the Asia-Pacific Automotive Coolant Aftermarket established its dominance with a commanding share of 45.80%, driven by the surge in vehicle sales across the region. Notably, China's Car radiator fluid segment secured the largest market share, while the Indian Automotive Coolant Aftermarket emerged as the fastest-growing market in the Asia-Pacific area.
- Based on the Technology, the Market has been segmented intoInorganic Additive Technology (IAT) holding the largest market in 2023.
- Valvoline Inc, Exxon Mobil Corporation, BASF SE, Total, Chevron Corporation, Royal Dutch Shell, OLD WORLD INDUSTRIES, LLC, Prestone Products Corporation, Arteco, AMSOIL INC, Recochem Corporation, and Motul.
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Companies Covered | 15 |
Pages | 128 |
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