Oct 13, 2022   SOURCE: BusinessWire

Europe and Middle East & Africa Antifreeze Market Report 2022: Increasing Vehicle Production and Aftermarket for Antifreeze and Engine Coolants Drives Growth - ResearchAndMarkets.com

The "Europe and Middle East & Africa Antifreeze Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - Coolant Type, Technology, Application, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.

Europe and Middle East & Africa antifreeze market size was valued at US$ 1,712.49 million in 2022 and is projected to reach US$ 2,327.46 million by 2028; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.

Antifreeze is an important engine coolant that helps regulate temperature. Antifreeze keeps the water in the engine and radiator from boiling over in hot weather. As temperatures fall, antifreeze prevents the water from freezing. Antifreeze is primarily composed of either ethylene glycol or propylene glycol. It may also contain additives such as silicates, nitrates, azoles, or borates to prevent oxidation and corrosion. These additives usually make up less than 10% of the total solution.

The major factor driving Europe and Middle East & Africa antifreeze market is the increasing vehicle production and aftermarket for antifreeze and engine coolants. The market growth in the region is also driven by the growing construction activities and sales of construction equipment. The increasing residential, industrial, and commercial construction activities, coupled with growing government investments in infrastructure development, has increased construction equipment sales.

Further, environment-friendly and bio-based antifreeze products will offer lucrative opportunities for Europe and Middle East & Africa antifreeze market growth. Bio-based antifreeze is made from renewable and sustainable raw materials. It helps reduce carbon footprint. However, the volatility in the raw material prices is expected to restrain Europe and Middle East & Africa antifreeze market growth during the forecast period.

Based on coolant type, the Europe and Middle East & Africa antifreeze market has been segmented into ethylene glycol, propylene glycol, and glycerin & others. The ethylene glycol segment held the largest share of the Europe and Middle East & Africa antifreeze market in 2021.

Based on geography, the Europe and Middle East & Africa antifreeze market has been segmented into Europe and the Middle East & Africa. In 2021, Europe held the largest revenue share of the market.

The antifreeze market growth in Europe is mainly driven by the increasing use of antifreeze in automotive, industrial heating/cooling, and energy sectors. In May 2022, European Green Deal and REPowerEU plan turned solar energy into a building block of the European Union's transition toward clean energy. This accelerated deployment of solar energy helps in reducing the European Union's dependence on imported fossil fuels.

All these factors demonstrate that the region's use of solar energy is increasing. With this, the demand for antifreeze is also growing. Further, antifreeze plays an important role in maintaining cars. The automotive industry is one of the most important industries in Germany. The country is home to many global technological and automotive manufacturing companies. The automotive industry in France is also exhibiting decent growth in the country. France is home to many domestic and international carmakers and component manufacturers. The automotive industry is one of the major industries in Italy. In the UK, the automotive industry is vital to the country's economy. The strong presence of the automotive industry in the region creates a huge demand for antifreeze, driving the antifreeze market in the region.

Market Dynamics

Market Drivers

  • Increasing Vehicle Production and Aftermarket for Antifreeze and Engine Coolants
  • Growing Construction Activities and Sales of Construction Equipment

Market Restraints

  • Volatility in Raw Material Prices
  • Market Opportunities
  • Environment-Friendly and Bio-Based Antifreeze

Future Trends

  • Investment in R&D and Initiatives by Market Players

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Europe and Middle East & Africa Antifreeze Market Landscape

5. Europe and Middle East & Africa Antifreeze Market - Key Market Dynamics

6. Antifreeze Market - Europe and Middle East & Africa Market Analysis

7. Europe and Middle East & Africa Antifreeze Market Analysis - By Coolant Type

8. Europe and Middle East & Africa Antifreeze Market Analysis - By Technology

9. Europe and Middle East & Africa Antifreeze Market Analysis - By Application

10. Europe and Middle East & Africa Antifreeze Market Analysis - By Distribution Channel

11. Europe and Middle East & Africa Antifreeze Market - Geographic Analysis

12. Impact of COVID-19 Pandemic on Europe & Middle East & Africa Antifreeze Market

13. Industry Landscape

14. Company Profiles

15. Appendix

Companies Mentioned

  • BASF SE
  • Chevron Corporation
  • CCI Corporation
  • Dow
  • Old World Industries, LLC
  • Prestone Products Corporation
  • Royal Dutch Shell Plc
  • ExxonMobil Corporation
  • Trychem FZCO
  • Sumitomo Chemical Co. Ltd

For more information about this report visit https://www.researchandmarkets.com/r/riyl4b