Automotive Coolant Market
Automotive Coolant Market Size, Share & Trends Analysis Report by Product Type (Ethylene Glycol, Propylene Glycol, and Others), by Technology (Inorganic Additive Technology (IAT), Organic Additive Technology (OAT), Hybrid Organic Acid Technology (HOAT)), by Vehicle Type (Passenger Cars, Heavy Commercial Vehicles, Light Commercial Vehicles) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Automotive coolant market is anticipated to grow at a considerable CAGR of 4.0% during the forecast period. The growing automobile industry across the globe has created demand for automotive coolant which has resulted in the growth of the global automotive coolant market. In September 2022, UPM Biochemicals has launched water glycol which is formulated from a three-part mixture of mono-ethylene glycol (MEG), water and a small quantity of additives. EV coolant has the potential to make automotive greener by broadening of their sustainability strategies.
The growing investments in R&D for the development of cost-effective, environment-friendly, and less toxic products with extensive product life is boosting the automotive coolant market. Moreover, the easy and abundant availability of various materials, including ethylene glycol, propylene glycol, and glycerin, in developed economies promotes new entrants to develop such products and also drives the automotive coolant market.
Segmental Outlook
The global automotive coolant market is segmented based on product type, technology, and vehicle type. Based on product type, the market is segmented into ethylene glycol, propylene glycol, and others. Based on technology, the market is divided into Inorganic Additive Technology (IAT), Organic Additive Technology (OAT), and Hybrid Organic Acid Technology (HOAT). Based on vehicle Type, the market is segmented into passenger cars, heavy commercial vehicles, and light commercial vehicles.
Passenger Car Segment Holds a Prominent Share in the Global Automotive Coolant Market
The considerable rise in the demand for utility vehicles in highly populated countries such as China, India, and Brazil has driven the demand for passenger cars. Coolant is the key material for use in passenger cars; therefore, rising passenger car production is anticipated to drive the growth of this market segment. Automobile manufacturers are introducing newer brands and products to offer customized coolant and lubricant solutions for customers. Several global OEMs are investing in this market either through joint ventures with established players or after FDI norms have been invested directly in setting up their production unit or enhancing their sales and dealership networks across the globe. For instance, in May 2021, Chevron Corp. and Noble Midstream Partners LP had completed the previously announced acquisition, which resulted in Noble Midstream becoming an indirect, wholly-owned subsidiary of Chevron.
Moreover, high demand for e-class, crossovers, SUVs, and hatchbacks is driving the passenger vehicle segment, which, in turn, is likely to boost the automotive coolant market. The rise in preferences for private transport and purchasing power of consumers is driving the passenger vehicle segment of the market.
Regional Outlooks
The global automotive coolant market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America).Among these, Europe automotive coolant market is anticipated to make considerable contribution to the global automotive coolant market.
Global Automotive Coolant Market Growth, by Region 2023-2030
Asia-Pacific to Exhibit Significant Growth in the Global Automotive Coolant Market
Asia-Pacific held considerable share of the global automotive coolant market owing to the higher volume of vehicle production in major countries, including India, China, and Japan, and lower manufacturing and labor costs across the region. According to the India Brand Equity Foundation, India’s annual production of automobiles in FY22 was 22.93 million vehicles. India is presently the sixth-biggest passenger vehicle manufacturer globally and the second-leading commercial vehicle developer. India is also a prominent auto exporter and has strong export growth expectations for the near future. In addition, several initiatives by the Government of India such as the Automotive Mission Plan 2026, scrappage policy, and production-linked incentive scheme in the Indian market are expected to make India one of the global leaders in the two-wheeler and four-wheeler market by 2022.
Indian PSU oil players, like IOCL, HPCL, BPCL, etc., and private players like RIL are continuously increasing their crude oil production capacity. As ethylene glycol is a crude oil by-product, the increasing production and refining capacity of crude oil may increase the availability of ethylene glycol in India, simultaneously boosting the domestic production of coolants in the country. The increasing domestic production of coolants to cater the rising regional demand is a key factor driving the regional market growth.
Market Players Outlook
The major companies serving the global automotive coolant market include Total S.A., Castrol Limited., Cummins Filtration, Valvoline International Inc., and Exxon Mobil Corp. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. The companies are focusing on geographic expansion to increase their customer base and to enhance revenue generation. For instance, In April 2021, Valvoline expanded its company-owned Quick-Lube Network with the acquisition of 16 service centers in Texas.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive coolant market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Total S.A.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Castrol Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Cummins Filtration
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Valvoline International Inc.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Exxon Mobil Corp.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Automotive Coolant Market by Product Type
4.1.1. Ethylene Glycol
4.1.2. Propylene Glycol
4.1.3. Others
4.2. Global Automotive Coolant Market by Technology
4.2.1. Inorganic Additive Technology (IAT)
4.2.2. Organic Additive Technology (OAT)
4.2.3. Hybrid Organic Acid Technology (HOAT)
4.3. Global Automotive Coolant Market by Vehicle Type
4.3.1. Passenger Cars
4.3.2. Light Commercial Vehicles
4.3.3. Heavy Commercial Vehicles
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. American Mfg Co. (Rudson)
6.2. Amsoil Inc.
6.3. Castrol Ltd.
6.4. Chevron Corp.
6.5. China National BlueStar (Group) Co. Ltd.
6.6. Cummins Filtration, Motul S.A.
6.7. Exxon Mobil Corp.
6.8. Indian Oil Corp. Ltd
6.9. JXTG Holdings Inc.
6.10. Prestone Products Corp.
6.11. Royal Dutch Shell PLC
6.12. Shandong Yuean Chemical Industry Co. Ltd.
6.13. Sinopec Corp.
6.14. Total S.A.
6.15. Valvoline International Inc.
6.16. Voltronic GmbH
1. GLOBAL AUTOMOTIVE COOLANT MARKET BY PRODUCT TYPE, 2022-2030 ($ MILLION)
2. GLOBAL ETHYLENE GLYCOL MARKET BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL PROPYLENE GLYCOL MARKET BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL OTHER AUTOMOTIVE COOLANT MARKET BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL AUTOMOTIVE COOLANT MARKET BY TECHNOLOGY, 2022-2030 ($ MILLION)
6. GLOBAL INORGANIC ADDITIVE TECHNOLOGY (IAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL ORGANIC ADDITIVE TECHNOLOGY (OAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL HYBRID ORGANIC ACID TECHNOLOGY (HOAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL AUTOMOTIVE COOLANT MARKET BY VEHICLE TYPE, 2022-2030 ($ MILLION)
10. GLOBAL AUTOMOTIVE COOLANT FOR PASSENGER CARS MARKET BY REGION,2022-2030 ($ MILLION)
11. GLOBAL AUTOMOTIVE COOLANT FOR LIGHT COMMERCIAL VEHICLES MARKET BY REGION,2022-2030 ($ MILLION)
12. GLOBAL AUTOMOTIVE COOLANT FOR HEAVY COMMERCIAL VEHICLES MARKET BY REGION,2022-2030 ($ MILLION)
13. GLOBAL AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2022-2030 ($ MILLION)
14. NORTH AMERICAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
15. NORTH AMERICAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
16. NORTH AMERICAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
17. NORTH AMERICAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. EUROPEAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
19. EUROPEAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
20. EUROPEAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
21. EUROPEAN AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
25. ASIA-PACIFIC AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
26. REST OF THE WORLD AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
27. REST OF THE WORLD AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
28. REST OF THE WORLD AUTOMOTIVE COOLANT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
1. GLOBAL AUTOMOTIVE COOLANT MARKET SHARE BY PRODUCT TYPE, 2022 VS 2030 (%)
2. GLOBAL AUTOMOTIVE COOLANT MARKET SHARE BY TECHNOLOGY, 2022 VS 2030 (%)
3. GLOBAL AUTOMOTIVE COOLANT MARKET SHARE BY VEHICLE TYPE, 2022 VS 2030 (%)
4. GLOBAL AUTOMOTIVE COOLANT MARKET SHARE BY GEOGRAPHY, 2022 VS 2030, (%)
5. GLOBAL AUTOMOTIVE COOLANT ETHYLENE GLYCOL MARKET BY REGION, 2022 VS 2030 (%)
6. GLOBAL AUTOMOTIVE COOLANT PROPYLENE GLYCOL MARKET BY REGION, 2022 VS 2030 (%)
7. GLOBAL OTHER AUTOMOTIVE COOLANT MARKET BY REGION, 2022 VS 2030 (%)
8. GLOBAL INORGANIC ADDITIVE TECHNOLOGY (IAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022 VS 2030 (%)
9. GLOBAL ORGANIC ADDITIVE TECHNOLOGY (OAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022 VS 2030 (%)
10. GLOBAL HYBRID ORGANIC ACID TECHNOLOGY (HOAT) BASED AUTOMOTIVE COOLANT MARKET BY REGION, 2022 VS 2030 (%)
11. GLOBAL AUTOMOTIVE COOLANT FOR PASSENGER CARS MARKET BY REGION, 2022 VS 2030 (%)
12. GLOBAL AUTOMOTIVE COOLANT FOR LIGHT COMMERCIAL VEHICLES MARKET BY REGION, 2022 VS 2030 (%)
13. GLOBAL AUTOMOTIVE COOLANT FOR HEAVY COMMERCIAL VEHICLES MARKET BY REGION, 2022 VS 2030 (%)
14. US AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
15. CANADA MARKET AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
16. UK AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
17. GERMANY AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
18. SPAIN AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
19. FRANCE AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
20. ITALY AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
21. REST OF EUROPE AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
22. INDIA AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
23. CHINA AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
24. JAPAN AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OFASIA-PACIFIC AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF WORLD AUTOMOTIVE COOLANT MARKET SIZE, 2022-2030 ($ MILLION)
