North America Market Study on Antifreeze and Coolants: Automotive Industry Creating Ample Opportunities for Market Expansion


North America Antifreeze And Coolants  Market
  • Published On : Nov-2020 |
  • Pages : 160 Pages |
  • Format : North America Antifreeze And Coolants  Market North America Antifreeze And Coolants  Market North America Antifreeze And Coolants  Market North America Antifreeze And Coolants  Market

Myriad of applications in end-use industries and technological advancements will forge ahead the demand for antifreeze and coolants across North America. Rapid developments in the automotive industry owing growth in vehicle numbers, emerging economies, and increased per capita income have demanded advanced versions of antifreeze and coolants on a large scale, and have encouraged their use via pricing policies and information campaigns. This will proliferate the procurement rate of antifreeze/coolants, thereby aiding the expansion of the North America antifreeze and coolants market size through 2030.

Increasing Per Capita Spending on Car Care Services Significantly Benefitting Market Growth

Growth in per capita disposable income of consumers has inclined them toward using automotive and maintenance services more often. Moreover, winter maintenance in cold regions has added to per capita spending and increased awareness among consumers to focus on automotive services and repairs. This is expected to surge demand for antifreeze and coolants in the aftermarket, given the rise in individualized transportation. Automotive maintenance and service providers are focused on providing automotive lubricants along with antifreeze and coolant services to generate more revenue, which, in turn, is expected to have a positive impact on the growth of the North America antifreeze and coolants aftermarket.

Robust Industrial Growth Offering New Growth Avenues for North America Antifreeze and Coolants Market

With a progressing industrial sector, including manufacturing, mining, construction, utilities, and oil & gas, demand for engine coolants is expected to rise during the forecast period. As such, many companies are entering the market with the hope of capitalizing on the surging demand to expand their geographical footprints. With growing infrastructure investments, demand for construction-based machines will rise further, which is anticipated to boost sales in the North America antifreeze and coolants market. For this, companies are focusing on developing products that comply with respective safety norms across the world. With effective research, development, and innovation, global manufacturers can find opportunities to capture unexploited markets and increase their market share.

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Signing Long-term Agreements - A Trend Benefitting Market Players

Many antifreeze and coolants manufactures are entering into tie-ups with OEMs for coolant fills and refills in factories (factory fill) and authorized service centers, besides branding partnerships that result in genuine (GO) and co?branded coolants. While OEM tie?ups are a low margin business due to royalty and margin sharing, these are necessary for the goodwill of manufactures in the aftermarket, as consumers seek reassurance on product quality and image. Moreover, distributors in the local market are also emphasizing on signing long-term contracts with local centers and service centers to make their products popular. Service providers such as service stations and automotive care centers are signing long-term agreements with vehicle owners by offering complete packages for car maintenance. Many customers prefer packaged deals from such stations.

Joint Ventures, Acquisitions, and Collaborations Key Strategies Followed by Leading Players

The North America antifreeze and coolants market is a fragmented market, and several players are limited to their countries and territories for product sales. However, mergers, acquisitions of contracts, and collaborations are some of the key strategies followed by market players to penetrate the North America antifreeze and coolants market and increase their presence. To meet high volume requirements, currently hampered by high material costs, long production cycles and lack of automation, as well as to meet emission regulations, tier-1 suppliers and car manufactures have adopted different strategies to allow vertical integration in the value chain.

Manufacturers’ Focus: Expansion of Antifreeze and Coolant Production

Over the past few years, ongoing developments at the supply side have given rise to diverse antifreeze/coolant products that cater to different consumer demands. Developments in end-use industries necessitate the need for specific coolant requirements, which can be used for all engine models, available in flexible packaging options, protect metal surfaces from corrosion, and work in stringent temperatures. This has given rise to a lot of competition in products, regional expansions, and providing different services. These factors provide an opportunity for the North America antifreeze and coolants market to grow steadily in the future.

North America Antifreeze and Coolants Market: Competition Overview

The North America antifreeze and coolants market is stipulated to be moderately consolidated, with a handful of tier-1 players occupying around one-third market share. Some of the active and leading participants holding a noteworthy North America antifreeze and coolants market share include Old World Industries, BASF, Exxon Mobil, Valvoline, Total S.A. and Chevron, amongst others.

COVID-19 Impact on North America Antifreeze and Coolants Market

The automotive industry is one of the heavily impacted industries by the coronavirus pandemic, and has witnessed disruptions in supply as well as demand patterns. Interruptions in raw material supply and shutting down of production facilities have impacted the market. Automotive sales in the U.S. are forecast to decrease by 15-20% in 2020. This is anticipated to directly impact OEM sales of antifreeze and coolants in the region. Halt in international travel as well as manufacturing activities are anticipated to further decrease demand from the aerospace, electronics, and industrial segments. However, as the situation gradually gets back to normal, post pandemic, the North America antifreeze and coolants market is anticipated to witness significant recovery from aftermarket as well as OEM sales.

Analysts’ Viewpoint

Growth of the North America antifreeze and coolants market is primarily driven by increased necessity toward thermal management and performance improvement in end applications. The industry has witnessed a sizable surge over the past couple of years, and the procurement rate is expected to remain healthy throughout the projected period, owing to various supporting factors.

North America Antifreeze and Coolants Market - Scope of the Report

Persistence Market Research (PMR) recently published a report on the North America antifreeze and coolants market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the North America antifreeze and coolants market structure. This market research report presents exclusive facts and figures about how the North America antifreeze and coolants market will grow over the forecast period of 2020 to 2030.

Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the North America antifreeze and coolants market over the forecast period.

The study is relevant for stakeholders in the North America antifreeze and coolants market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand the applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the North America antifreeze and coolants market can leverage the information and statistics presented in PMR’s research report.

The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting the growth of the North America antifreeze and coolants market. The study also offers actionable insights based on the future trends in the North America antifreeze and coolants market. Furthermore, regional players and new entrants in the North America antifreeze and coolants market can also use the information presented in this report to make business decisions and gain momentum in the market.

Key Segments of North America Antifreeze and Coolants Market

PMR’s study on the North America antifreeze and coolants market is divided into four significant segments - application, type, sales channel, and country. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Application

  • Automobiles
    • Passenger Cars
    • LCVs
    • HCVs
  • Industrial
  • Aerospace
  • Electronics Industries
  •  

Type

  • Ethylene Glycol
  • Polypropylene Glycol
  • Others (Methanol and Glycerol

Sales Channel

  • OEM
  • Aftermarket

Country

  • United States
  • Canada
  • Mexico

Key Questions Answered in PMR’s North America Antifreeze and Coolants Market Report

  • Which country is anticipated to hold a prominent market share over the forecast period?
  • What will be the key driving factors propelling the demand for antifreeze and coolants during the forecast period?
  • How will current trends will impact the North America antifreeze and coolants market?
  • Who are the significant market participants in the North America antifreeze and coolants market?
  • What are the crucial strategies of prominent players in the North America antifreeze and coolants market to upscale their positions in this landscape?

North America Antifreeze and Coolants Market: Research Methodology

In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the North America antifreeze and coolants market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure the precision and reliability of the conclusions.

Secondary resources are referred to by analysts during the evaluation of the North America antifreeze and coolants market study, which comprise facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency, local and regional government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, engineering managers, and production managers to provide insightful information.

Comprehensive information acquired from primary and secondary resources is validated from companies operating in the North America antifreeze and coolants market, to make PMR’s projections on the growth prospects of the market more accurate and reliable.

Companies covered in North America Antifreeze And Coolants Market Report

North America Antifreeze And Coolants Market

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