North America Antifreeze Coolants Market Segmented By Ethylene Glycol, Polypropylene Glycol, Methanol and Glycerol Type in Automobiles, Industrial, Aerospace, Electronics Industries with OEM and Aftermarket
Ongoing developments in the automotive sector have led to significant product innovations in the antifreeze and coolants industry. Rising vehicle numbers, emerging economies, and increased per capita income are leading to surging demand for advanced versions of antifreeze and coolants on a large scale. This will heighten the procurement rate of antifreeze/coolants during the forecast period, thereby aiding growth of the North America antifreeze and coolants market. As per PMR analysis, the North America antifreeze and coolants market is anticipated to expand at a CAGR of around 4% over the forecast period of 2020-2030, to reach a valuation of US$ 2.3 Bn by 2030-end.
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Key Takeaways from North America Antifreeze and Coolants Market Study
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North America Antifreeze and Coolants Market to Remain Consolidated
The North America antifreeze and coolants market is moderately consolidated in nature. Tier-1 manufacturers are estimated to account for one-third of the North America antifreeze and coolants market. Some of the leading manufacturers identified in the North America antifreeze and coolants market are Old World Industries, CCI Manufacturing, Valvoline, Chevron Products Company, Royal Dutch Shell, and Roshfrans, amongst others. Manufacturers are aiming to strengthen their market share by improving brand value and expanding distribution networks.
North America Antifreeze and Coolants Market: Conclusion
In recent times, the antifreeze and coolants industry has witnessed substantial growth due to the rising automotive sector. The North America antifreeze and coolants market is anticipated to influence product innovation, with the high presence of manufacturers having a major share of companies operating in the aftersales channel. Key players focus on acquisition strategies and regional dominance to establish their products in the region. Additionally, stringent regulatory norms pertaining to antifreeze/coolant disposal will proliferate the North America antifreeze and coolants market throughout the stipulated period.
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Jun 26, 2023