Made from ethylene glycol or propylene glycol, antifreeze is a green or yellow liquid that is used in vehicles to protect engines from freezing under low temperatures and adverse climatic conditions. It is also used in aerospace sector and in industrial heat transfer and cooling systems. Organic Acid Technology (OAT), Inorganic Acid Technology Antifreeze (IAT), and Hybrid Organic Acid Technology (HOAT) are the major antifreeze technologies.
OAT Technology to Witness Maximum Demand
In the coming years, OAT is expected to gain the maximum share owing to availability of decomposable and eco-friendly inorganic salts and acids. Extended drain interval of OAT is also likely to increase its demand in advanced antifreeze products. Companies in this field invest more in R&D to expand their business.
For instance, U.K.-based Exol recently announced a new range of lubricants for heavy duty and passenger vehicles. The new range includes Antifreeze SOAT (Lilac), Antifreeze OAT (Red) and Antifreeze OAT Universal (Clear), Antifreeze HD (Green), and Antifreeze HDX (Blue). The entire range is based on advanced OAT inhibitor technology and fulfill the growing needs of advanced vehicle cooling systems.
Market Overview
The global antifreeze market is likely to value USD 8.76 billion by 2025, according to a report by Grand View Research, Inc. High demand for passenger cars and Lightweight Commercial Vehicles (LCVs) is likely to impel growth of this market in the coming years. Reducing size of automobile engines due to increasing adoption of nanotechnology can also drive the market. Growing necessity for protecting vehicles from adverse climatic conditions using advanced coolants would have a positive impact on the market expansion.
Rising concerns regarding automotive engines and protecting radiators from overheating, freezing, and corrosion can fuel market demand. Improving standards of living owing to rising disposable income levels is likely to stimulate market growth during the forecast period (from 2018 to 2025). Some of the prominent companies operating in the antifreeze market are Exxon Mobil Corp., Chevron Corp., BP PLC, Royal Dutch Shell PLC, and BASF SE.
In-Depth Research Report On Antifreeze Market:
https://www.grandviewresearch.com/industry-analysis/antifreeze-market
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