The market for antifreeze/coolant is estimated to grow from USD 4.52 Billion in 2016 to reach USD 6.62 Billion by 2021, at a CAGR of 7.91%. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021. The segments considered for this report are based on product type, application, and region.

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The global antifreeze/coolant ecosystem comprises antifreeze/coolant raw material suppliers, manufacturers, distributors, and end-use sectors (OEM’s).

The key players considered in the report are:

BP PLC (U.K.)
CHEVRON CORPORATION (U.S.)
ROYAL DUTCH SHELL PLC (Netherlands)
TOTAL S.A. (France)
EXXON MOBIL CORPORATION. (U.S.)
LUKOIL (Russia)
PETRONAS (Malaysia)
BASF SE (Germany)
CUMMINS INC. (U.S.)
MOTUL S.A. (France)
By Application:

Automobiles
Industrial
Others (aerospace and electronics industries)
In terms of application, the automotive segment accounted for the largest share in this market, in terms of both value and volume, among the end-use industries. However, the industrial application segment is projected to grow at a significant rate. The demand for antifreeze/coolants is increasing as it ensures workability and performance of engines and heat exchangers in applications such as winterization of potable water systems, sanitation systems, non-running engines, and air conditioners.

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In terms of region, the market for antifreeze/coolant has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region is projected to grow at the highest CAGR among all the regions by 2021. This is mainly due to the emerging economies, growth in automotive aftermarket and do-it-yourself (DIY) culture in North America, increase in awareness of antifreeze/coolant, and, most importantly, the rise in trends in the industries such as automobiles, electronics, and aerospace and defense.