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The Europe and Middle East & Africa ethylene glycol antifreeze market is expected to grow from US$ 974.67 million in 2022 to US$ 1,342.73 million by 2028
It is expected to grow at a CAGR of 5. 5% from 2022 to 2028. Ethylene glycol antifreeze is widely used to control the temperature of various systems in commercial and industrial applications.
New York, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe and Middle East & Africa Ethylene Glycol Antifreeze Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology, Application, and Distribution Channel" - https://www.reportlinker.com/p06362976/?utm_source=GNW
In addition, it is used in some special inhibitors to protect metallic surfaces from corrosion.
In the automobile sector, antifreeze helps lower the internal temperature of the engine systems, thereby improving the engine and mileage performance. Also, it is widely utilized in various industries, including energy and manufacturing.
Based on technology, the Europe and Middle East & Africa ethylene glycol antifreeze market is segmented into inorganic additive technology and organic acid technology & hybrid organic acid technology.In 2021, the organic acid technology & hybrid organic acid technology segment held a larger market share and is expected to grow faster during the forecast period.
Organic acid technology-based ethylene glycol antifreeze is widely used as an anticorrosive liquid to protect aluminum and nylon parts in automobiles. The increasing demand for anticorrosive property-based liquids in automotive parts design is expected to drive the market for the segment from 2022 to 2028.
Based on distribution channel, the market is segmented into original equipment manufacturers (OEM), aftermarkets, and retail & others.The aftermarkets segment holds a major share of the Europe and Middle East & Africa ethylene glycol antifreeze market and is expected to grow faster from 2022 to 2028.
Aftermarket is the market for spare parts, accessories, and components for motor vehicles. Various vehicle service stations and independent garages offer coolant (ethylene glycol antifreeze) designed for various applications.
The Europe and Middle East & Africa ethylene glycol antifreeze market is segmented into Germany, France, the UK, Italy, Russia, the Rest of Europe, South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa.In 2021, the Rest of Europe held the largest share of the Europe and Middle East & Africa ethylene glycol antifreeze market and is expected to grow at the fastest CAGR over the forecast period.
This is due to the significant demand for ethylene glycol chemicals in the Eastern European region. The focus of key players on expanding their supply chain also supports the market growth in Eastern Europe.
Ethylene glycol antifreeze has applications in automotive, HVAC systems, and heat exchangers to facilitate heat transfer in adverse weather conditions.It is a liquid that circulates in the cooling system primarily as a heat exchanger between the engine and radiators.
In 2020, various industries had to slow down their operations due to supply chain disruptions caused by the shutdown of national and international borders due to the COVID-19 pandemic.The supply chain disruptions resulted in raw material shortages and irregular manufacturing processes in various countries.
The health crisis affected the procurement of ethylene glycol, the raw material used to produce ethylene glycol antifreeze.The high demand and supply gap increased ethylene glycol prices during the COVID-19 outbreak.
However, the relaxation of COVID-19 pandemic-related restrictions and the resumption of production in automotive, construction equipment, and industrial heating industries propelled the demand for ethylene glycol antifreeze in 2021. Thus, the COVID-19 pandemic moderately impacted the demand for ethylene glycol antifreeze. Further, increased demand for passenger vehicles in European countries, including Germany, the UK, and Spain, is driving the ethylene glycol antifreeze market.
Wacker Chemie AG; BASF AG; Chevron Corporation; Dow, Inc.; EXXON MOBIL CORPORATION; CCI Corporation; Old World Industries; Prestone Products Corporation; Valvoline LLC.; and Shell Plc. are among the leading players in the Europe and Middle East & Africa ethylene glycol antifreeze market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
Overall, the Europe and Middle East & Africa ethylene glycol antifreeze market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants, including valuation experts, research analysts, and key opinion leaders—specializing in the Europe and Middle East & Africa ethylene glycol antifreeze market.
Read the full report: https://www.reportlinker.com/p06362976/?utm_source=GNW
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