Dublin, April 22, 2021 (GLOBE NEWSWIRE) -- The "North America Antifreeze Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type, Technology Type, and Application" report has been added to ResearchAndMarkets.com's offering.
Ethylene Glycol Segment to Dominate North America Antifreeze Market during 2020-2027
North America Antifreeze Market market is expected to reach US$ 2,496.89 million by 2027 from US$ 1,609.15 million in 2019; it is estimated to grow at a CAGR of 5.8% from 2020 to 2027.
The report provides trends prevailing in the North America antifreeze market, and the drivers and restraints pertaining to the market growth. The upsurge in the demand for high performance vehicles as well as the rising use of antifreeze in non-automotive applications is driving the market. However, due to harmful environmental effects and fluctuating raw material prices will hinder the growth of the market in developing countries in North America.
The antifreeze market in North America is segmented into product type, technology type and application. Based on product type the market is segmented into ethylene glycol, propylene glycol, glycerin and methanol. In 2019, the ethylene glycol segment held the largest share of the North America antifreeze market.
Ethylene glycol is an organic compound mainly used as a raw material in the manufacture of polyester fibers and for antifreeze formulations. It is a colorless, odorless, sweet-tasting, viscous liquid. End-user industries highly prefer ethylene glycol-based antifreeze due to its exceptional properties such as the ability to be mixed in any proportion to form coolant, miscibility in water, and others. The production cost of ethylene glycol coolants is less as it requires less energy at various stages of conversions, along with the low cost of raw materials.
Thus, ethylene glycol coolants are cost-efficient, and this is also one of the primary factors driving a huge number of customers to opt for ethylene glycol coolants. Earlier, vehicle owners were reluctant to use ethylene glycol owing to its sweet taste and toxic characteristics. However, the outbreak of COVID-19 and lockdown imposed by the governments across North America is anticipated to have a huge disruption in the growth of various industries across North America.
Although, US is the leading hub of manufacturing and largest raw material supplier for various industries, it is one of the worst affected countries due to the outbreak of COVID-19. The governments across North America are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.
Amsoil Inc., BP p.l.c, Chevron Corporation, BASF SE, CCI Corporation., Old World Industries, LLC, Prestone Products Corporation, Total, Exxon Mobil Corporation and Royal Dutch Shell Plc. are among the leading companies in the North America antifreeze market.
The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Antifreeze Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Antifreeze Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in the Demand for High Performance Vehicles
5.1.2 Rising Use of Antifreeze in Non-Automotive Applications
5.2 Market Restraints
5.2.1 Harmful Environmental Effects and Fluctuating Raw Material Prices
5.3 Market Opportunities:
5.3.1 Development of Eco-Friendly and Bio-Based Antifreezes
5.4 Future Trends:
5.4.1 Rising Demand from the Aerospace Sector
5.5 Impact Analysis of Drivers and Restraints
6. Antifreeze - North America Market Analysis
6.1 Antifreeze Market Overview
6.2 Market Positioning - North America Market Players
7. Antifreeze Market Analysis - By Product Type
7.2 North America Antifreeze Market, By Product Type (2019 and 2027)
7.3 Ethylene Glycol
7.4 Propylene Glycol
8. Antifreeze Market Analysis - By Technology Type
8.2 North America Antifreeze Market, By Technology Type (2019 and 2027)
8.3 Organic Acid Technology Antifreeze (OAT)
8.4 Inorganic Acid Technology Antifreeze (IAT)
8.5 Hybrid Organic Acid Technology (HOAT)
9. Antifreeze Market Analysis - By Application
9.2 North America Antifreeze Market, By Application (2019 and 2027)
10. North America Antifreeze Market - Country Analysis
11. Overview- Impact of COVID-19
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.2 Strategy & Business Planning
12.1 Product News
13. Key Company Profiles
Old World Industries, LLC
Prestone Products Corporation
Exxon Mobil Corporation
Royal Dutch Shell Plc
For more information about this report visit https://www.researchandmarkets.com/r/op4sc1
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