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(India.CityRegions.Com, September 14, 2018 ) Industry Outlook and Trend Analysis The Antifreeze Market was worth USD 4.28 billion in 2014 and is expected to reach approximately USD 7.72 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.77% during the forecast period. The market is anticipated to demonstrate significant development over the conjecture time frame attributable to the rising car area in rising economies including India, China and South Korea. Rising usage of antifreeze in applications heat transfer and to avert engine freezing at low temperatures is foreseen to drive market development. Additionally, constant investments in R&D for the improvement of cost effective, efficient, environment friendly and low lethal products with a high time span of usability by different makers is foreseen to make tremendous market potential over the estimate time frame.
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Product Outlook and Trend Analysis Ethylene Glycol based antifreeze was the prevailing product fragment and represented 59% of the aggregate volume share of the overall industry in 2016. The rising use of ethylene glycol in deicing, aversion of radiator overheating, insurance against hydraulic brakes and radiator freezing are anticipated to drive the market request. Likewise, expanding usage as a warmth conductor in warming and cooling frameworks is probably going to additionally boost the market development.
Technology Outlook and Trend Analysis Organic acid technology (OAT) represented more than 49% of the worldwide volume share in 2015.The OAT is foreseen to witness the most extreme development over the estimate time frame inferable from existence of eco-friendly, effortlessly decomposable neutralized inorganic salts and acids. Additionally, the broadened deplete interim of OAT is anticipated to drive market development.
Application Outlook and Trend Analysis Automotive was the leading section and was esteemed at USD 2.94 Billion in 2016. The expanding use of antifreeze in HVAC (ventilation, cooling and heating) for car and modern segment is foreseen to fuel industry extension. Moreover, factors including good government activities, rising discretionary income, changing way of life and fast urbanization will additionally push market development throughout the following years.
Regional Outlook and Trend Analysis Asia Pacific accounted the biggest share in 2015 and is foreseen to indicate generous development thinking about expanding interest for passenger autos and light business vehicles essentially in China and India. Furthermore, rising automotive sector in different nations including China, India, Indonesia and Thailand combined with enhancing way of life, consciousness of consumers, and rising extra cash will advance development over the conjecture time frame.
Competitive Insights The leading players in the market Dow Chemical Company, Chevron Corporation, BP, OLD WORLD INDUSTRIES LLC, BASF, Amsoil, ExxonMobil, Royal Dutch Shell, Prestone and Total S.A. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Antifreeze Market is segmented as follows-
By Product: Propylene Glycol Glycerin Ethylene Glycol
By Application: Aerospace Automotive Industrial heat transfer and cooling applications
By Technology: HOAT OAT IAT
By Region North America U.S Canada Mexico Europe Germany France UK Italy Spain Rest of Europe Asia-Pacific Japan China Australia India South Korea Rest of Asia Pacific Rest of the World Brazil South Africa Saudi Arabia United Arab Emirates Others
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Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com
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