The automotive organic acid technology (OAT) antifreeze market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to reach at an estimated value of USD 4.2 billion by 2029 and to grow at a CAGR of 5.4% in the above-mentioned forecast period.
Automotive organic acid technology (OAT) antifreezes is basically an additive which can be developed from either organic acid, inorganic salts and azoles or a combination of all three. Generally, it aids in managing the temperature of a vehicle's engine by reducing freezing point and increasing the boiling point of the cooling system.
The factors such as rise in demand for high-performance vehicles and increased use of high-quality technologically advance additive are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the automotive organic acid technology (OAT) antifreeze market in the forecast period are availability of environment friendly, bio-based coolants and antifreeze.
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Some of the major players operating in the automotive organic acid technology (OAT) antifreeze market report are Shell, Exxon Mobil Corporation, Kost USA Inc., Motul, BP plc, Ashland, Castrol Limited, Lukoil, PETRONAS Lubricants International, BASF SE, Chevron Phillips Chemical Company LLC, TotalEnergies, China Petroleum Chemical Corporation, Prestone Products Corporation, SONAX GmbH, DOW, Evans Cooling Systems Inc., DuPont, Tate Lyle, Havoline, and Huntsman Corporation LLC among others.
Scope of the Automotive Organic Acid Technology (OAT) Antifreeze Market Report:
The automotive organic acid technology (OAT) antifreeze market is segmented on the basis of fluid type, application and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of fluid type, the automotive organic acid technology (OAT) antifreeze market is segmented into ethylene glycol, propylene glycol and glycerin.
- On the basis of application, the automotive organic acid technology (OAT) antifreeze market is segmented into passenger vehicle, commercial vehicle and construction vehicle.
- Based on distribution channel, the automotive organic acid technology (OAT) antifreeze market is segmented into original equipment manufacturers (OEMS) and aftermarket.
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Automotive Organic Acid Technology (OAT) Antifreeze Market Regional Analysis/Insights
The Automotive Organic Acid Technology (OAT) Antifreeze market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Automotive Organic Acid Technology (OAT) Antifreeze market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Automotive Organic Acid Technology (OAT) Antifreeze within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Automotive Organic Acid Technology (OAT) Antifreeze market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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