Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The automotive coolant market operates within a dynamic landscape influenced by various factors. At its core, the demand for coolant arises from the need to regulate engine temperature and prevent overheating, thereby ensuring optimal performance and longevity of vehicles. This demand is primarily driven by the global automotive industry's growth and the increasing production of vehicles worldwide. As more vehicles hit the roads, the need for coolant rises proportionately, creating a steady demand for coolant products.
Moreover, the automotive coolant market is shaped by technological advancements and regulatory standards. Manufacturers continually innovate to develop more efficient coolant formulations that comply with environmental regulations and enhance vehicle performance. The emergence of eco-friendly and long-life coolants reflects this trend, catering to both consumer preferences for sustainable products and regulatory requirements for reducing environmental impact. Technology-dependent market segments are hybrid organic acid technology (HOAT), organic additive technology (OAT) and inorganic additive technology (IAT). The inorganic additive technology segment holds more than 55% share in the global market and is also likely to procure the highest growth rate in the given period.
Furthermore, market dynamics in the automotive coolant sector are influenced by macroeconomic factors such as GDP growth, disposable income levels, and consumer spending patterns. During periods of economic prosperity, consumers are more likely to invest in vehicle maintenance, including coolant replacement, driving up demand. Conversely, economic downturns may lead to reduced vehicle usage and aftermarket spending, impacting coolant sales.
The competitive landscape also plays a crucial role in shaping market dynamics. The automotive coolant market is characterized by intense competition among major players and a multitude of smaller regional manufacturers. Price competition, product differentiation, and distribution networks are key battlegrounds where companies strive to gain market share. Strategic alliances, mergers, and acquisitions are common strategies employed by companies to strengthen their positions and expand their market presence.
Additionally, the automotive coolant market is subject to supply chain dynamics, including raw material availability, transportation costs, and geopolitical factors. Fluctuations in oil prices, for instance, can impact the cost of key raw materials used in coolant production, influencing product pricing and profitability. Geopolitical tensions or trade disputes may disrupt supply chains, leading to supply shortages or price volatility.
Consumer preferences and awareness also contribute to market dynamics. Growing concerns over environmental sustainability and health safety drive demand for eco-friendly and non-toxic coolant solutions. Consumers are increasingly inclined towards products that offer superior performance, durability, and compatibility with modern vehicle engines. Marketing efforts and educational campaigns play a crucial role in informing consumers about the benefits of different coolant formulations and driving adoption.
Moreover, regulatory interventions and industry standards significantly shape the automotive coolant market. Government regulations regarding emissions, vehicle efficiency, and product safety directly impact coolant composition and usage. Compliance with these regulations is essential for manufacturers to access markets and maintain consumer trust. Additionally, industry standards set by organizations like the Society of Automotive Engineers (SAE) influence product specifications and quality benchmarks, fostering innovation and standardization within the market.
Automotive Coolant Market Highlights:
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
-
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 (%)Â 
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-12â„¢ 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
-
Exxon Mobil Corporation (U.S.)
-
BASF SE (Germany)
-
TotalEnergies (France)
-
Chevron Corporation (U.S.)
-
Shell Plc (U.K.)
-
OLD WORLD INDUSTRIES (U.S.)
-
Prestone Products Corporation (U.S.)
-
Arteco (U.S.)
-
Recochem Corporation (Canada)
-
MOTUL (France)
-
BP PLC (U.K.)
-
Chevron Corporation (U.S.)
-
Valvoline Inc. (U.S.)
-
Sinopec (China)
-
Castrol Limited (U.K.)
Automotive Coolant Industry Developments
October 2021:Â 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:Â 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
-
Ethylene Glycol
-
Propylene Glycol
-
-
Others
Automotive Coolant Vehicle Type Outlook
-
Passenger Car
-
Heavy Commercial Vehicles
-
Light Commercial Vehicles
-
Others
Automotive Coolant Technology Outlook
-
Inorganic Additive Technology (IAT)
-
Organic Additive Technology (OAT)
-
Hybrid Organic Acid Technology (HOAT)
Automotive Coolant End User Outlook
-
Original Equipment Manufacturer (OEM)
-
Automotive Aftermarket
Automotive Coolant Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
