United Kingdom Automotive Coolant Market to Increase Due to Growing Vehicle Sales
The rapid increase in high performance vehicle,
increasing focus on ecofriendly coolant, and development of new coolant
technology is driving the growth of United Kingdom Automotive Coolant Market in
the forecast period, 2023-2028.
According to the TechSci
Research report, "United Kingdom Automotive Coolant Market- By Country,
Competition, Forecast and Opportunities, 2028", the market is
anticipated to grow with the rapid CAGR in the upcoming years.
Antifreeze, commonly
known as engine coolant, is a colored liquid mixed with water that is used to
manage the engine during periods of extreme heat. Coolant is pumped throughout
the engine block to maintain a steady operating temperature when the weather
outside changes from hot to cold. However, antifreeze has purposes other than
temperature regulation. Corrosion may be avoided by keeping proper fluid
levels. The increase in demand for automobiles and manufacturers, as well as
continuing R&D expenditures for the development of cost-effective,
environmentally friendly, and less hazardous products with a long life are
expected to drive the automotive coolant market. I. Consumption of antifreeze/coolants
is growing as construction equipment sales increase. The engine coolant, which
is a required component of all Heavy-Duty Vehicle (HDV) engines, absorbs excess
heat from the internal combustion engine by delivering it to the environment
via the radiator.
Consequently, the
automotive antifreeze market's growth trajectory is being pushed by factors
such as increased vehicle manufacturing, desire for automobile maintenance,
vehicle sales, and so on. Manufacturers in the automotive antifreeze market are
focused on product innovation and development to preserve their competitive
advantage. The necessity for adequate engine maintenance is projected to
increase as demand for high-performance vehicles and cars rises. The necessity
for an effective cooling system is increasing the need for organic acid
technology to have an ideal engine efficiency. Automobile manufacturers are
releasing innovative brands and products to provide clients with customized
automotive coolant and lubricant solutions, increasing the automotive coolant
market's share. ExxonMobil, for example, said in December 2021 that it had finalized
corporate plans that included boosting its expenditure on greenhouse gas
emission-reduction initiatives to USD 15 billion over the following six years.
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The United Kingdom Automotive Coolant Market can be
segmented based on by vehicle type, product, technology, end user, and country.
By vehicle type, the market is segmented into passenger car, light commercial
vehicle (LCV), and heavy commercial vehicle (HCV). Passenger vehicles are
expected to dominate the vehicle types throughout the forecast period. This is
attributed to increased demand for utility cars. Furthermore, increased desire
for private mobility and expanding consumer spending power are likely to
promote expansion in this market. Based on Product, the United Kingdom Automotive
Coolant market is segmented into Ethylene Glycol, propylene Glycol and
Glycerin. The Ethylene Glycol (EG) category accounted for the greatest share of
base fluid. Because of its numerous advantages, ethylene glycol antifreeze is
in high demand, fueling the segment's sales growth. As it has a lower freezing
point than water, ethylene glycol is commonly used in automotive radiators for
cooling. It assists in the absorption of heat from engines, avoiding engine
overheating, and its increasing use in automobiles. . Based on technology type,
the market is divided into inorganic additive technology (IAT), organic
additive technology (OAT) and hybrid organic additive technology (HOAT). The
OAT sector has the highest share. The sole use of carboxylate chemicals by OAT
to prevent corrosion extends the coolant's lifetime even more. Instead of
generating an external on the metal, they function directly in the area of
metal corrosion.
Some of the major players operating in the United
Kingdom Automotive Coolant Market include:
·
Rock Oil refining, Inc.
·
BP plc
·
Shell plc
·
Chevron Corporation
·
Exxon Mobil Corporation
·
Total S.A.
·
Valvoline Inc.
·
Castrol Corporation.
·
Petroliam Nasional Berhad(Petronas)
·
Amsoil, inc.
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“With the rising
technological advancement many coolants manufacturing companies are focusing on
organic and green sustainable coolant materials. Further the demand of the
coolant is rising due to the growing vehicle production coupled with the demand
of high-performance vehicle led to the increase in the automotive coolant in
the United Kingdom. “said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“United Kingdom Automotive Coolant Market, Segmented By Vehicle Type, By Product
Market Share Analysis, By Technology Type Market Share Analysis, By End-Use Market
Share Analysis, By Region Competition
Forecast & Opportunities, 2018- 2028F, has evaluated the future
growth potential of United Kingdom Automotive Coolant Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the United Kingdom Automotive Coolant Market.
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