The Asia Pacific Antifreeze Market would witness market growth of 6.9% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,963.1 Kilo Tonnes, showcasing a growth of 15.7% (2020-2023).
Glycerin, also known as glycerol, is emerging as an alternative ingredient in the market, particularly in eco-friendly and non-toxic formulations. As a biodegradable and non-toxic compound, glycerin offers a safer option for applications, reducing environmental and health risks associated with conventional chemicals. Therefore, the demand of Glycerin in Indian Market was 29.57 Kilo Tonnes in 2023.
The China market dominated the Asia Pacific Antifreeze Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,118.6 million by 2031. The Japan market is registering a CAGR of 6.1% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.5% during (2024 - 2031).
Antifreeze is used in medical and laboratory equipment such as refrigerators, freezers, and cryogenic systems to maintain precise temperature control for storing biological samples, reagents, and other sensitive materials. Manufacturers increasingly focus on developing products with less hazardous chemicals, such as organic acids or glycerin-based solutions, to meet regulatory standards and customer requirements for environmentally friendly options.
Long-life antifreeze formulations, also known as extended-life or extended-service interval coolants, are gaining popularity in the market. These formulations offer extended service intervals compared to traditional products, reducing the frequency of coolant changes and maintenance requirements for vehicles and industrial equipment. Technological advancements in cooling system technology, including improvements in radiator design, water pump efficiency, and engine materials, influence the demand for such products.
China's emergence as an automotive superpower on a global scale has a profound effect on the industry. According to the State Council of the People’s Republic of China, China’s auto sales expanded 13.5 percent yearly to nearly 1.98 million units in February (2023). In February alone, sales of passenger vehicles went up 10.9 percent to over 1.65 million units. Additionally, auto exports soared 82.2 percent from a year earlier to 329,000 units in January, bringing the total number of exports in the first two months of 2023 to 630,000 units, up 52.9 percent year on year. As the automotive industry continues to grow in these countries, the demand for antifreeze is expected to rise further in the coming years.
Free Valuable Insights: The Global Antifreeze Market is Predict to reach USD 8.5 Billion by 2031, at a CAGR of 6.7%
Based on Product, the market is segmented into Ethylene Glycol, Propylene Glycol, and Glycerin. Based on Technology, the market is segmented into Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT), and Inorganic Additive Technology (IAT). Based on Application, the market is segmented into Automobile, Aerospace, and Industrial Heat Transfer & Cooling Systems. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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