According to the research report titled, ‘Antifreeze Market Size, Share and Industry Analysis Report By Product (Ethylene Glycol, Propylene Glycol), By Technology (Inorganic Acid Technology [IAT], Organic Acid Technology [OAT], Hybrid Organic Acid Technology [HOAT]), By Application (Automotive, Aerospace, Industrial Heating/Cooling), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027’, available with MarketStudyReport, global antifreeze market is expected to garner substantial returns over 2021-2027.
 

Escalating product demand in several applications, harsh weather conditions across leading regions, and  widespread adoption of antifreeze in automobiles so as to protect engines from overheating in high or low temperatures are the primary factors propelling the growth of global antifreeze market.
 

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Furthermore, the COVID-19 pandemic had resulted in temporary shutdown of several industries. This in turn led major players to adopt effective strategies for boosting product adoption in industrial applications, thereby augmenting the market outlook.
 

In addition, surging climate consciousness resulting in automotive manufacturers accelerating the electrification of their vehicle fleet, and the ability of these products to regulate temperature in both highbred and electric vehicles are adding momentum to market progression.
 

On the contrary, fluctuation in prices of raw materials along with high toxicity level of ethylene glycol are hampering market remuneration scope.
 

Considering the  product-based fragmentation of global antifreeze industry, the propylene glycol segment held 36.8% market share in 2020 and is anticipated to amass notable gains through 2027.
 

In terms of technology type, the inorganic acid technology  (IAT) is  speculated to record a CAGR of 5.8% over 2021-2027. Meanwhile, the hybrid organic acid technology (HOAT) segment is predicted to exhibit a CAGR of 7.3% over the study period.
 

Moving on to application ambit, the aerospace segment accounted for 22.6% market share in 2020 and is slated to amass notable gains over 2021-2027.
 

Regionally speaking, North America held a market share of 18.6% in 2020 and is likely to showcase substantial progression over the estimated timeline. Also, Europe captured a market revenue of 22.5% and is projected to amplify at a significant rate through 2027.
 

Key players operating  in worldwide antifreeze market are Gazprom Neft PJSC, Eni S.p.A, Huntsman Corporation, Solventis Ltd., Chevron Corporation, Cummins, Inc., Evans Cooling Systems, Inc., DuPont Tate  & Lyle Bio Products Company, LLC, The Dow Chemical Company, Indian Oil Corporation Ltd., BASF SE, Sonax Electronics Pvt. Ltd., Petroliam Nasional Berhad (Petronas), The PJSC Lukoil Oil Company, Prestone Products Corporation, and Castrol Ltd.