According to a new report, published by KBV research, The Global Antifreeze Market size is expected to reach $8.5 billion by 2031, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 4,668.7 Kilo Tonnes, experiencing a growth of 15.5% (2020-2023).
Construction equipment and machinery used in these projects rely on cooling systems that require antifreeze to prevent freezing and maintain optimal operating temperatures, particularly in regions with cold climates. For instance, according to the International Trade Administration and industry experts, the value of the UAE's construction industry is projected to increase by between 3.7% and 4.7% over the next five years. The nation's development agenda will promote growth centered on expanding its industrial, travel, and energy infrastructure.
Developing industrial zones and manufacturing facilities on the outskirts of cities accompany urbanization. For example, according to the report by the World Bank updated in 2023, 56% of the world's population, or 4.4 billion people, live in cities. By 2050, nearly 7 out of 10 individuals will reside in cities, representing more than doubling the current urban population. These industrial facilities rely on cooling systems for machinery, equipment, and processes, all of which require antifreeze to maintain optimal operating temperatures and prevent freezing or overheating.
Antifreeze protects internal combustion engines from freezing during cold weather conditions. By lowering the freezing point of the engine coolant, antifreeze prevents ice from forming within the cooling system, which can otherwise lead to engine block damage and costly repairs. Antifreeze formulations are designed to be compatible with a broader range of materials commonly used in cooling systems, including aluminum, copper, brass, steel, and plastics. This ensures compatibility with different types of engines, radiators, and cooling system components, allowing for versatile applications across various industries.
The Propylene Glycol segment would exhibit a CAGR of 7% during (2024 - 2031). Propylene glycol has low toxicity and is considered safe for various applications, including antifreeze formulations for automotive, industrial, and HVAC systems. Propylene glycol is categorized by regulatory bodies as "generally recognized as safe" (GRAS), in contrast to ethylene glycol, which can be harmful if consumed in significant amounts. This safety profile makes propylene glycol-based antifreeze suitable for applications where human and animal exposure is a concern, such as in food processing facilities and pet-friendly environments.
The Organic Acid Technology (OAT) segment is generating the highest revenue in the Global Antifreeze Market by Technology in 2023; thereby, achieving a market value of $4.3 billion by 2031. OAT-based antifreeze formulations offer extended service intervals compared to traditional coolants. OAT technology provides long-lasting corrosion protection and pH stability, allowing vehicles to go longer between coolant changes. This feature reduces maintenance frequency and costs for vehicle owners and fleet operators, driving the adoption of OAT-based antifreeze products. OAT-based antifreeze enhances corrosion protection for cooling system components, including aluminum radiators, heater cores, and water pumps.
The Aerospace segment is experiencing a CAGR of 7.1% during (2024 - 2031). Aerospace vehicles often operate in extreme temperatures, including high altitudes, sub-zero temperatures, and rapid fluctuations during flight. Antifreeze solutions are necessary to prevent coolant freezing, corrosion, and thermal stress on critical components. The reliability and performance of aerospace cooling systems directly impact flight safety, making high-quality antifreeze products indispensable in the aerospace segment.
Full Report: https://www.kbvresearch.com/antifreeze-market/
The Asia Pacific region dominated the Global Antifreeze Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4.2 billion by 2031. The North America region is anticipated to grow at a CAGR of 6.2% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 6.4% during (2024 - 2031).
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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