The report "Antifreeze/Coolant Market by Product Type (Ethylene Glycol and Propylene Glycol), Application (Automobiles and Industrial), and Region - Global Forecast to 2021", The market for antifreeze/coolant is projected to grow from USD 4.52 Billion in 2016 to reach USD 6.62 Billion by 2021, at a CAGR of 7.91%. This market is growing due to the increase in demand for coolants due to the rising vehicle production in the countries such as China and India.

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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)
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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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