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 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)
Propylene glycol type projected to grow at the highest CAGR during the forecast period

Propylene glycol is highly preferred as it is less toxic than ethylene glycol and has perceived environmental benefits. It is used in North America and Europe in niche applications. Applications such as industrial and automotive, which require less toxic coolant products, have driven the use of propylene glycol, globally.

Industrial segment projected to grow at the highest rate during the forecast period

The antifreeze/coolant market has been segmented on the basis of application into automobiles, industrial, and others. In 2015, the industrial application segment accounted for the second largest share of the application segment and is projected to grow at the highest CAGR during the forecast period. Antifreeze/coolants are used in HVAC systems and heat exchangers to facilitate heat transfer process in adverse cold weather conditions. They are also used in various industrial applications and the electronics industry.

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