Automotive coolant is a coloured liquid that is also known as engine coolant or antifreeze. It aids in controlling the vehicle's engine during extremely cold temperatures when combined with antifreeze. It guards against engine overheating. Additionally, automotive coolant lubricates and shields the vehicle's moving components from harm when it comes into touch with the head gasket, water pump, cylinder, and piston timing.
United States Automotive Coolant Market Driving Factors and Challenges
Driving Factors: Propylene glycol is used as a coolant in the transportation industry for engine cooling in hydraulic fluids and fire-resistant brakes. This is frequently used as a heat transfer fluid in high-temperature applications and as a raw material for deicing aeroplanes. The market for automotive coolants is anticipated to develop as a result of the growing demand for propylene glycol. Furthermore, increased vehicle manufacturing in both emerging and mature nations is a major factor contributing to the growth of the automotive coolant market. For example, the International Organisation of Motor Vehicle Production reported that the total number of automobiles made in 2016 was 95 million, which increased to 97 million in 2017. As a result, the increasing number of automobiles on the road is driving up demand for automotive coolant, which is expected to accelerate market expansion.
Challenges: The vehicle coolant market in developed regions such as North America and Western Europe may become saturated due to strong market knowledge, established habits, and widespread use of effective engine coolants. Many autos in these nations already have coolant-based cooling systems, which limits expansion possibilities and increases competitiveness. According to the Environmental Protection Agency (EPA), antifreeze and engine coolant are widely used in the United States, where temperatures can vary substantially. Vehicle owners and mechanics understand the significance of cooling system maintenance. Consumers in mature markets have easy access to coolant supplies and replacement services because to a large network of vehicle service centres, repair shops, and auto parts stores.
Impact of COVID-19 on United States Automotive Coolant Market
The emergence of Covid-19 had a negative impact on the automotive coolant business. The severe interruptions in many manufacturing processes and supply-chain operations have significantly impacted market growth. Several precautionary lockdowns imposed by governments to prevent the spread of disease caused significant financial losses for the market. Furthermore, consumers are increasingly focused on eliminating non-essential expenses from their budgets, which has reduced demand for vehicle coolant. Furthermore, with the ongoing lifting of the lockdown and the new coronavirus under control, the global automotive coolant market could accelerate in the next years.
United States Automotive Coolant Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Royal Dutch Shell, ExxonMobil Corporation, Chevron Philips Corporation, Sinopec, Total S.A., Kost USA, Motul, Ashland Corporation, British Petroleum PLC., Lukoil, Petronas, Sinclair Oil Corporation and Others.
United States Automotive Coolant Market Segmentation:
By Vehicle Type: Based on the Vehicle Type, United States Automotive Coolant Market is segmented as; Passenger Car, Commercial Vehicle.
By Chemical Type: Based on the Chemical Type, United States Automotive Coolant Market is segmented as; Ethylene Glycol, Propylene Glycol.
By Region: This research also includes data for Northeast, South, Midwest, West.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.