Antifreeze trends research and projections for 2017- 2024

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Antifreeze Market for industrial heating/cooling
to rise at 5 CAGR during 2017-2024 Global
Market Insights, Inc.
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• Global Market Scenario of Automotive Industry

• Antifreeze Market is likely to surpass USD 7.5
  billion by 2024 according to a new research
  report by Global Market Insights, Inc. Strong
  commercial air traffic flow in Asia Pacific and
  the Middle East will positively influence the
  overall antifreeze market size by 2024. For
  instance, revenue passenger kilometers (RPK) in
  Asia Pacific and the Middle East was 6.3 and
  6.2 respectively in 2016.
• This trend is majorly due to improving
  socio-economic factors of people in Asia Pacific
  countries including India, Japan, Indonesia and
  Malaysia. In addition, as per Boeing estimates,
  the global airplane fleet size will double its
  size as of now by 2033. Therefore, increasing
  airplane fleet size in the near future will
  subsequently boost the global antifreeze market
  size by 2024.
• Volatility in raw material prices is will be a
  major restraining factor for antifreeze market
  size by 2024. Propylene glycol and ethylene
  glycol, are petroleum derivates and are the key
  raw materials used for manufacturing antifreeze.
  Henceforth, wavering petroleum prices may hinder
  the global coolants market size by 2024.

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• Furthermore, toxic nature of product is probable
  to obstruct the overall antifreeze market size by
  2024. Nevertheless, rising product use to improve
  engine performance in vehicle will generate
  plentiful opportunities for coolants market size
  by 2024.
• Propylene glycol-based antifreeze market size is
  projected to witness gains of over 6.5 during
  the forecast time period. This is owing to its
  less-toxic nature compared to ethylene
  glycol-based antifreeze and henceforth makes it
  preferable across several end-user industries
  including automotive, industrial and aerospace.
  Stringent laws imposed by regional regulatory
  bodies against use of toxic material across the
  aforementioned industries to help save human life
  and environment has triggered use of non-toxic
  material. These trends will drive demand for
  propylene-based coolant which will subsequently
  propel antifreeze market size in the coming
  years.

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• 360 Industry Analysis

• Coolant market size for Hybrid Organic Acid
  Technology (HOAT) is likely to rise close to CAGR
  of 6 in the coming years. It is a hybrid of
  Inorganic Acid Technology (IAT) and OAT and use
  carboxylate salts which are mainly organic acid
  salts. Additionally, it contains sodium silicate
  which is an excellent aluminum protection
  additive. However, silicates are abrasive to
  antifreeze pump seals and silicate containing
  coolants are not preferred by manufacturer.
  Henceforth, this technology includes silicates in
  a lesser concentration compared to conventional
  green IAT coolant and henceforth will help drive
  antifreeze market size by 2024.
• Antifreeze market size for industrial
  heating/cooling is projected to rise at a CAGR
  close to 5 during the forecast timespan. Growing
  population along with rising economy in the Asia
  Pacific has led to industrialization which will
  drive product demand and in turn will boost
  coolants market size by 2024. Product possess
  excellent properties which is designed to protect
  copper, brass, solder, cast iron, steel and
  various other metals commonly found in industrial
  cooling/heating system. The aforementioned trends
  will help attain promising gains to coolants
  market size by 2024.

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• Regional Analysis

• North America antifreeze market size was close to
  USD 750 million in 2016. This was mainly due to
  strong automotive and aerospace industry mainly
  in the U.S. For instance, total vehicle sales in
  the U.S. were 15.53 million units which reached
  17.85 million units by the end of 2017.
  Additionally, Maintenance, Repair and Overhaul
  providers (MROs) for aircraft industry in the
  region spent USD 20 billion. This move was
  intended to maintain the overall performance and
  safety standards. Coolants play a significant
  role in maintaining engines performance by
  reducing the excess heat generated which
  otherwise, may cause severe damage to engine
  components. The above-mentioned trends will help
  make significant contribution to the antifreeze
  market size by 2024.

• Competitive Analysis

• In 2016, the overall antifreeze market was
  consolidated with major players constituting
  close to 50 of the market share. Major
  antifreeze market players are Chevron, Kost USA,
  Shell, Total, Exxon Mobil, Ashland Inc, PETRONAS,
  Castrol BASF, Sinopec, Dow and DuPont. Prominent
  players are investing significantly into their
  RD facilities to broaden its customer base.

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