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Demand From Automotive Industry Drives Global Antifreeze Market | TechnavioThe global antifreeze market is expected to grow at a CAGR of close to 8% during the period 2017-2021, according to a new market research study by Technavio. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171121005506/en/ 
Technavio has published a new report on the global antifreeze market from 2017-2021. (Graphic: Business Wire) The report presents a comprehensive outline of the global antifreeze market by product (ethylene glycol and propylene glycol) and by application (automotive and industrial). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, Europe, North America and ROW. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Market driver: increasing demand for antifreeze agents in automobiles Antifreeze agents are widely used in the automotive industry as antifreeze coolants. They protect vehicle engines from damage caused by freezing. Antifreeze agents act as heat-transfer fluids, and they also contain chemicals that hinder corrosion and the formation of scales. Antifreeze agents prevent the water in the radiator of a vehicle from freezing, thereby thwarting any damage to the vehicle. Apart from this, they also prevent the water from boiling when the exterior temperature becomes high and prevent the important fluids in vehicles from evaporating. According to Ajay Adikhari, a lead analyst at Technavio for specialty chemicals research, "The extreme cold climatic conditions and the high demand for automobiles from relatively cold regions across the globe are the factors that are expected to increase the demand for antifreeze agents. These factors will promote the growth of the global antifreeze market during the forecast period." Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Market trend: increasing impact of industrialization Industrialization refers to the dynamic shift in the social and economic factors of the human society. This results in an increase in modernization wherein social and economic developments take place continually, and it involves a larger scale of the production process. Industrialization results in the growth of more industrial activities, and it increases the manufacturing activities involving various kinds of engines and motors. Therefore, leading to an increase in antifreeze agents. The rate of industrialization is on the rise in the current scenario, particularly in developing economies such as India and China. Proper management and optimum use of industrial resources are vital for maintaining sustainability. Market challenge: fluctuating raw material cost A major challenge faced by antifreeze manufacturers is consistent price fluctuations of raw materials that are used in the manufacturing process of antifreeze agents. Ethylene and propylene are the major raw materials used to produce antifreeze agents. These are manufactured from compounds like ethane and propane. The prices of these petrochemicals are dependent on the price of natural gas and crude oil. Because of the supply-demand imbalances and the volatile political situation in the Middle East, which has the major share of the world's oil supply, there is volatility in the price of crude oil in the overseas market. This has resulted in a significant increase in the prices of these major petrochemicals. Is your business on track for a successful future? Learn how Technavio can help Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions. Key vendors in the market
Many established and regional players are operating in the global antifreeze market. The players are more focused on R&D to improve their product portfolio and the launch of innovative products. The primary challenge faced by these players is the fluctuation in raw material prices and issues pertaining to sourcing. Get a sample copy of the global antifreeze market report free of cost Access Technavio's continuously growing specialty chemicals research library and find expert analysis on hundreds of markets. About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
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