Antifreeze Coolant and Lubricant market is to reach $5.6 Billion by 2030; Increasing demand for environment friendly coolants and lubricants propels market growth.

The Antifreeze Coolants and Lubricant size is estimated to reach $5.6 billion by 2030, growing at a CAGR of 4.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Antifreeze Coolants and Lubricant – By Product Type (Ethylene Glycol, Propylene Glycol, Methanol, and Others), By Technology (Inorganic Additive Technology, Organic Acid Technology, Hybrid Organic Acid Technology, and Others), By Grade (Automotive Grade, Technical Grade, Ultra-Pure Grade, and Others), By End-User (Aerospace (Commercial, Military, and Others), Automotive (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), Industrial, Electronics, HVAC, Marine, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.

Asia-Pacific accounted for the largest share of 38% of the Antifreeze Coolants and Lubricant in 2023. As, the region has a rapidly growing automotive sector, particularly in countries like India and China, this increasing vehicle population directly correlates to a higher demand for antifreeze and lubricants. Additionally, the rapid industrialization across the region is fueling the need for industrial coolants and lubricants in manufacturing, machinery, and power generation sectors across Asia Pacific countries. Furthermore, region is well-equipped with a robust supply chain for raw materials essential for antifreeze and lubricant production.

The increasing automotive industry is a major driver in the antifreeze coolants and lubricants market. As global vehicle production surges, driven by factors such as increasing disposable incomes, urbanization, and infrastructure development, the demand for these essential fluids escalates. Additionally, the trend toward larger and more complex engines, coupled with the stringent emission norms, necessitates the use of advanced antifreeze and lubricant formulations. Furthermore, the increasing complexity of modern vehicles has led to a higher demand for specialized antifreeze coolants and lubricants, further fueling market growth.

The growing industrial coolants and lubricants market is a significant driver for the overall antifreeze and lubricants industry. Factors such as the expansion of manufacturing sectors, the increasing complexity of industrial processes, and the need for enhanced heat dissipation have fueled the growth of this segment. Additionally, the stringent environmental regulations imposed on industrial emissions have necessitated the development of eco-friendly coolants and lubricants, creating new market opportunities. As industries strive for improved productivity and energy efficiency, the demand for advanced industrial fluids is expected to continue to rise and enhance the customer experience will be well-positioned to thrive the growth in the Antifreeze Coolants and Lubricant market.

Key companies profiled in the Antifreeze Coolants and Lubricant are BP PLC, Chevron U.S.A. Inc., BASF SE, Exxon Mobil Corp., Cummins Inc., Royal Dutch Shell, Total Engineers, Fuchs, Sinopec Group, Valvoline Global Operations and others.