Global Automotive Coolant Market Overview
The automotive coolant market size was valued at USD 7.59 Billion in 2023. The automotive coolant industry is projected to grow from USD 7.89 Billion in 2024 to USD 10.39 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.49% during the forecast period (2024 - 2032). Growing production of vehicles in emerging and developed economies and continuous investments in R&D to develop cost-effective, environment-friendly, and less toxic products are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Coolant Market Trends
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The growing usage of ethylene glycol in the automotive industry is driving market growth.
Market CAGR for automotive coolant is driven by the rising demand for ethylene glycol in the automotive industry. Ethylene glycol has a significantly lower melting point than water, which keeps engines of ethylene from freezing in the winter and works as a coolant to avoid overheating in the summer. Also, ethylene glycol is used in vehicles to absorb combustion heat which is expected to generate lucrative opportunities for the automotive coolant market revenue.
Automobile manufacturers are launching newer brands and products to offer customers customized automotive coolant and lubricant solutions, enhancing the automotive coolant market's share. Various OEMs are investing in the country through either joint ventures with introduced players or after FDI norms have been invested directly in setting up their production units or expanding their sales and dealership networks across the country. For instance, in December 2021, ExxonMobil announced that it had finalized corporate plans, which include increasing its spending to USD 15 billion on greenhouse gas emission-reduction assignments over the next six years while keeping disciplined capital acquisitions in its industry-leading portfolio.
In addition, the increasing number of HVAC equipment in manufacturing industries is expected to impact market growth positively. Thus, the factors above are expected to drive the market size over the projected period. There are certain restraints and challenges faced which will hinder market growth.
Automotive Coolant Market Segment Insights
Automotive Coolant Product Insights
The automotive coolant market segmentation, based on product, includes ethylene glycol, propylene glycol, glycerin, and others. The ethylene glycol segment dominated the market, accounting for major market revenue. Ethylene glycol is widely used in car radiators for cooling as it has a lower freezing point than water. It aids in absorbing heat from engines preventing overheating of engines and its rising usage in automotive.
Automotive Coolant Vehicle Type Insights
The automotive coolant market segmentation, based on vehicle type, includes passenger cars, heavy commercial vehicles, light commercial vehicles, and others. The passenger cars category generated the most income over the forecast period due to rising demand for utility vehicles in densely populated countries such as China, India, and Brazil.
Automotive Coolant Technology Insights
The automotive coolant market segmentation, based on technology, includes inorganic additive technology (IAT), organic additive technology (OAT), and hybrid organic acid technology (HOAT). The organic additive technology (OAT) segment dominated the market, accounting for major market revenue over the forecast period. Prominent manufacturers are formulating automotive coolant through advanced technologies which assist in creating silica- and phosphate-free products driving the market segment.
Automotive Coolant End User Insights
The automotive coolant market segmentation, based on end users, includes Original Equipment Manufacturers (OEM) and Automotive Aftermarkets. The automotive aftermarket category generated the most income over the forecast period. This is owing to the presence of a massive number of commercial vehicles and passenger cars currently in transit worldwide, and most of them need after-sales servicing for maintenance purposes.
Figure 1: Automotive Coolant Market by End User, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Coolant Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America automotive coolant market will dominate this market, owing to increasing domestic production of automotive coolant that may help automotive coolant manufacturers cater to the rising demand for automotive coolants and boost the market growth in this region. Moreover, US automotive coolant market held the largest market share, and the Indian automotive coolant market was the fastest-growing market in the Asia-Pacific region.
Further, the prominent countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AUTOMATIVE COOLANT MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe automotive coolant market accounts for the second-largest market share due to the growing middle-class population, rising disposable income, developing surface transportation infrastructure, growing aspiration of owning private vehicles, increasing mobility due to the development of satellite townships near megacities, and increasing demand for goods carriers from micro, small and medium-sized enterprises for automotive coolant are fueling the market in this region. Further, the German automotive coolant market held the largest market share, and the UK automotive coolant market was the fastest-growing market in the European region.
The Asia-Pacific automotive coolant market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the availability of inexpensive labor and raw material in the region, coupled with the increasing number of local manufacturers of automotive coolant, which is likely to propel the market in this region. Moreover, China automotive coolant market held the largest market share, and the India automotive coolant market was the fastest-growing market in the Asia-Pacific region.
Automotive Coolant Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the automotive coolant market grow even more. Market participants are also undertaking several strategic activities to enhance their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the automotive coolant industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the automotive coolant industry to benefit clients and increase the market sector. Major players in the automotive coolant market, including Chevron Corporation, BP PLC, Royal Dutch Shell PLC, Exxon Mobil Corporation, Total SA, Lukoil, BASF SE, Petronas, Motul SA, Cummins Inc, and others, are attempting to increase market demand by investing in research and development operations.
Valvoline Inc is a manufacturer and distributor of finished lubricants and automotive chemicals. The company offers passenger car motor oils and other automotive lubricant products. It also provides automotive chemicals, fluids, and coatings. The firm sells its products through retail auto part stores, mass merchandisers, independent auto part stores, and distributors. The firm has blending and packaging facilities located in the US, the Netherlands, Ecuador, India, and Australia. Valvoline's products discover applications in a range of vehicles and engines, such as light-duty, heavy-duty, and electric vehicles. In August 2021, Valvoline Inc. launched new automotive coolant technology specifically designed for modern engines: Valvoline Antifreeze Coolant HT-12™ Green and Valvoline Antifreeze Coolant HT-12 Pink.
Amsoil Inc. produces synthetic lubricating oils. The Company offers fuel additives, filtration systems, motor and diesel oil, and other companion products that supplement and extend lubricant performance. Amsoil operates in Superior, Wisconsin, and markets to customers worldwide. In February 2021, AMSOIL introduced a new Powersports Antifreeze & Coolant designed to cool high-revving, hot-running Powersports engines. Featuring an ethylene-glycol formulation that meets OEM recommendations, the automotive coolant provides an extended five-year service life with excellent boil-over protection up to 226 F (108°C) and freeze protection down to -34°F (-37°C).
Key Companies in the Automotive Coolant market include
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Exxon Mobil Corporation (U.S.)
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BASF SE (Germany)
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TotalEnergies (France)
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Chevron Corporation (U.S.)
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Shell Plc (U.K.)
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OLD WORLD INDUSTRIES (U.S.)
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Prestone Products Corporation (U.S.)
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Arteco (U.S.)
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Recochem Corporation (Canada)
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MOTUL (France)
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BP PLC (U.K.)
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Chevron Corporation (U.S.)
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Valvoline Inc. (U.S.)
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Sinopec (China)
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Castrol Limited (U.K.)
Automotive Coolant Industry Developments
October 2021: Gulf Oil launched a new series of e-fluids for Electric and Hybrid passenger cars. These fluids were found in several markets, including China, the Middle East, and Europe, earlier in 2022, whereas Hinduja will launch this series in the Indian market. One of the major products, the eLEC Coolant, aids in cooling electric vehicles' batteries and supports keeping them cool even under adverse situations.
July 2021: Castrol launched the new Castrol ON e-thermal fluid, an advanced new ‘direct’ battery e-thermal fluid that will enable future generations of EVs to be charged more rapidly and offer increased performance, protection, and sustainability.
December 2020: Recochem, a well-known manufacturer and distributor of automotive aftermarket fluids, has recently acquired KOST USA Inc. This company is the third biggest manufacturer of automotive coolant in the U.S. KOST is known for its light-duty automotive coolant and various functional fluids across the automotive aftermarket channels.
Automotive Coolant Market Segmentation
Automotive Coolant Product Outlook
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Ethylene Glycol
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Propylene Glycol
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Glycerin
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Others
Automotive Coolant Vehicle Type Outlook
Automotive Coolant Technology Outlook
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Inorganic Additive Technology (IAT)
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Organic Additive Technology (OAT)
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Hybrid Organic Acid Technology (HOAT)
Automotive Coolant End User Outlook
Automotive Coolant Regional Outlook
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North America
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 7.59 billion |
| Market Size 2024 |
USD 7.89 billion |
| Market Size 2032 |
USD 10.39 billion |
| Compound Annual Growth Rate (CAGR) |
3.49% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product, Vehicle Type, Technology, End User, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Valvoline LLC (US), Exxon Mobil Corporation (US), BASF SE (Germany), Total (France), Chevron Corporation (US), Royal Dutch Shell plc (the Netherlands), OLD WORLD INDUSTRIES LLC (Italy), Prestone Products Corporation (US), Arteco (Belgium), and AMSOIL INC (US) |
| Key Market Opportunities |
The rising demand for ethylene glycol in the automotive industry |
| Key Market Dynamics |
Growing production of vehicles both in emerging and developed economies |
Automotive Coolant Market Highlights:
Frequently Asked Questions (FAQ) :
The automotive coolant market size was valued at USD 7.59 Billion in 2023.
The market is projected to grow at a CAGR of 3.49% during the forecast period, 2024-2032
North America had the largest share of the market
The key players in the market are BASF SE (Germany), Total (France), Chevron Corporation (US), Royal Dutch Shell plc (the Netherlands), OLD WORLD INDUSTRIES LLC (Italy), Prestone Products Corporation (US), Arteco (Belgium), and AMSOIL INC (US)
The ethylene glycol category dominated the market in 2023
The passenger car had the largest share of the market
The organic additive technology (OAT) category dominated the market for automotive coolant in 2023
The automotive aftermarket had the largest share of the market
