Europe and Middle East & Africa Antifreeze Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Coolant Type (Ethylene Glycol, Propylene Glycol, and Glycerin & Others), Technology (Inorganic Additive Technology, Organic Acid Technology, and H

Europe and Middle East & Africa Antifreeze Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Coolant Type (Ethylene Glycol, Propylene Glycol, and Glycerin & Others), Technology (Inorganic Additive Technology, Organic Acid Technology, and Hybrid Organic Acid Technology & Others), Application (Automobiles, Industrial Heating/Cooling, Energy, and Manufacturing & Others), and Distribution Channel [Original Equipment Manufacturers (OEMs), Aftermarket, and Retail & Others]

Europe and Middle East & Africa antifreeze market size was valued at US$ 1,712.49 million in 2022 and is projected to reach US$ 2,327.46 million by 2028; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.

Antifreeze is an important engine coolant that helps regulate temperature. Antifreeze keeps the water in the engine and radiator from boiling over in hot weather. As temperatures fall, antifreeze prevents the water from freezing. Antifreeze is primarily composed of either ethylene glycol or propylene glycol. It may also contain additives such as silicates, nitrates, azoles, or borates to prevent oxidation and corrosion. These additives usually make up less than 10% of the total solution. The major factor driving Europe and Middle East & Africa antifreeze market is the increasing vehicle production and aftermarket for antifreeze and engine coolants. The market growth in the region is also driven by the growing construction activities and sales of construction equipment. The increasing residential, industrial, and commercial construction activities, coupled with growing government investments in infrastructure development, has increased construction equipment sales. Further, environment-friendly and bio-based antifreeze products will offer lucrative opportunities for Europe and Middle East & Africa antifreeze market growth. Bio-based antifreeze is made from renewable and sustainable raw materials. It helps reduce carbon footprint. However, the volatility in the raw material prices is expected to restrain Europe and Middle East & Africa antifreeze market growth during the forecast period.

Based on coolant type, the Europe and Middle East & Africa antifreeze market has been segmented into ethylene glycol, propylene glycol, and glycerin & others. The ethylene glycol segment held the largest share of the Europe and Middle East & Africa antifreeze market in 2021. Ethylene glycol is an odorless, colorless, and viscous liquid. It possesses superior heat transfer properties. Ethylene glycol is an important ingredient in automotive antifreeze and coolant. It acts as a coolant to reduce overheating of car engines in the summer. Other applications of ethylene glycol include heat transfer fluids used as industrial coolants for gas compressors; heating, ventilating, and air-conditioning systems; and ice skating rinks.

Based on geography, the Europe and Middle East & Africa antifreeze market has been segmented into Europe and the Middle East & Africa. In 2021, Europe held the largest revenue share of the market. The antifreeze market growth in Europe is mainly driven by the increasing use of antifreeze in automotive, industrial heating/cooling, and energy sectors. In May 2022, European Green Deal and REPowerEU plan turned solar energy into a building block of the European Union's transition toward clean energy. This accelerated deployment of solar energy helps in reducing the European Union's dependence on imported fossil fuels. All these factors demonstrate that the region's use of solar energy is increasing. With this, the demand for antifreeze is also growing. Further, antifreeze plays an important role in maintaining cars. The automotive industry is one of the most important industries in Germany. The country is home to many global technological and automotive manufacturing companies. The automotive industry in France is also exhibiting decent growth in the country. France is home to many domestic and international carmakers and component manufacturers. The automotive industry is one of the major industries in Italy. In the UK, the automotive industry is vital to the country's economy. The strong presence of the automotive industry in the region creates a huge demand for antifreeze, driving the antifreeze market in the region.

Wacker Chemie AG, BASF SE, Chevron Corporation, Dow Inc., EXXON MOBIL CORPORATION, CCI Corporation, Old World Industries, Prestone Products Corporation, Valvoline LLC, and Shell plc are among the major players operating in the Europe and Middle East & Africa antifreeze market. Market players are constantly focusing on strategies such as investments in research and development activities and new product launches. These market players are highly focused on the development of high-quality and innovative product offerings to fulfill the customers' requirements.

The overall Europe and Middle East & Africa antifreeze market size has been derived using both primary and secondary source. 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 into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe and Middle East & Africa antifreeze market.

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