OAT Coolant Market Size, Share, Growth, and Industry Analysis, By Type (- 15°C Type, - 20°C Type, - 30°C Type, - 40°C Type, - 45°C Type, & Other), By Downstream Industry (Diesel Engine, Gasoline Engine, & Natural Gas Engine) and Regional Forecast to 2032

Updated On: 04 November 2024

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OAT COOLANT MARKET REPORT OVERVIEW

The OAT Coolant Market Size was Valued at US$ 875.57 Million in 2023. The Market is likely to Surpass US$ 1111.31 Million by 2032 at a CAGR of 2.41% During the Forecast period [2024-2032].

OAT coolant is automotive antifreeze. It uses a glycol-based mixture to protect engines from freezing and overheating. The full name of the coolant is organic acid technology. This type of coolant is habitually called long life. This is because of its use in vehicles for up to six years or 150000 miles with need of replacement. It does not require the other supplemental coolant additives to maintain its performance.

Increasing production of passenger cars and commercial vehicles and rigid emission laws are propelling the market growth. The Rising knowledge and technological advancement are opening several opportunities for the companies to expand the market.

COVID-19 Impact: Market Growth Declined by Pandemic due to Restriction on Vehicle Running

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had a notable terrible impact on market growth. Key challenges covered disrupted delivery chains, leading to delays and shortages of raw substances critical for manufacturing. Lockdowns and restrictions resulted in the transient shutdown of manufacturing facilities, lowering output and affecting the well timed delivery of merchandise. Additionally, decreased business pastime, especially in sectors such as automobile and construction, brought about a decline in call for. The monetary uncertainty further dampened funding and enlargement plans inside the industry, as a result, the market place experienced reduced growth, operational inefficiency, and monetary strain during the peak of the pandemic.

LATEST TRENDS

"Increasing Adoption of Cogeneration Technologies Propelling Market Expansion"

Present trend in the market that is boosting the market growth is the shifting preference towards eco-friendly coolants. There is a rising demand for organic-based coolants that do not harm the ecosystem due to the increasing apprehension for green sustainability. OAT coolants are organic aid-based which provides an eco-friendly substitute to traditional coolants. In addition, growing adoption of long-life coolants offer extended service life compared to conventional coolants dropping maintenance cost and downtime. The market is witnessing a shift towards long-life coolant solutions as end-users seek cost effective options.

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OAT COOLANT MARKET SEGMENTATION

By Type

Based on type the market can be categorized into below - 15°C Type, - 20°C Type, - 30°C Type, - 40°C Type, - 45°C Type, & other.

• - 15°C Type: This is used in the oxygen-argon tertiary coolant. It is conservative and non-corrosive which makes them appropriate for use in aerospace applications. They have a lower boiling point than water that allows them to boil faster and thus maintain the temperature of the liquid at a low level.

• - 20°C Type: It is more effective at preventing engine overheating because it has a higher boiling point than other types of coolants. They are also more costly than other types of coolants.

• - 30°C Type: It can be used for a longer period of time without needing to be replaced and it is also more efficient at cooling the engine than the other types of coolants which makes it the most popular choice among consumers.

• - 40°C Type: It has slightly higher freezing point than the above coolant type, but it is not as effective at cooling the engine as the -30 degree Celsius type. Although, it is yet a good choice for those who live in cold areas and they use this type of coolant to keep their engines from freezing.

• - 45°C Type: It is mainly used in high-performance vehicles such as racing cars. It is not required by law, many carmakers advise using this type of coolant in their vehicles. It is the highest freezing point of all the coolants and is impressive at cooling the engine, but they are most expensive and difficult to find.

• Other: There are various other types of coolant present in the market which can fulfill the corresponding tasks required as per the applications.

By Downstream Industry

Based on downstream industry the market can be categorized into diesel engine, gasoline engine, & natural gas engine.

• Diesel Engine: The diesel engine uses this coolant owing to their ability to maintain low temperatures while eliminating moisture from the diesel fuel.

• Gasoline Engine: The gasoline engine application segment is using OAT withanolide glycol as an alternative cooling agent due to its superior properties including non-corrosive nature, high heat transfer efficiency and being environmentally friendly than other conventional cooling agents such as mineral oil or alcohol-based solutions among others.

• Natural Gas Engine: It is used in natural gas engines using start-up and shutdown of gas turbine engines across various applications as residential, commercial, and industrial among others.

DRIVING FACTORS

"Increasing Interest in Automobile Sector Propelling Market Growth "

One of the attributes for the OAT coolant market growth is increasing interest in the automobile sector. The main driver propelling the worldwide market for coolant is the growing need from the automobile sector. Vehicles with increasingly sophisticated and complex cooling mechanisms are becoming ever more dependent on them. In addition antifreeze coolants are essential for preserving engine temperatures at their ideal levels and reduce burning deterioration and cooling. Car manufacturing and sales have amplified dramatically with the growing global automotive industry due to some factors such as urbanization, population expansion, and improving economies.

"Rising Awareness about Vehicle Maintenance Fueling Market Growth"

Another growing factor for increasing market growth is the rising knowledge about the maintenance of vehicles among consumers. The significance of safeguarding vehicles is resulting in an increase in demand for OAT coolants worldwide. Customers are now more inclined towards using products that can advance the performance and durability of their vehicles, and others. Furthermore, the strict emission regulations are supporting the market growth. Stringent emissions norms across different countries are enhancing demand for products because they facilitate reduction in emission from vehicles and are encouraging market growth.

RESTRAINING FACTOR

"Growing Demand for Battery Operated Electric Vehicles Hindering Market Growth"

Limiting factor for the market growth is the growing demand for electric vehicles that is operated by battering is hindering the market growth. Growing environmental concern has given rise to the need of developing alternate technologies in the automobile industry. One such step is the development of the battery electric vehicle. These vehicles function on batteries and various control units which not only improve performance but also nullify emissions. Battery powered electric vehicles eliminate the application of an internal combustion engine and thus further eliminate the use of coolant which hampers the market growth.

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OAT COOLANT MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominates the Market due to Government Regulation on Emission"

The North America region is dominating the OAT coolant market share due to stringent emission regulations impelling the demand for OAT coolants in the automotive sectors in this region. Increasing preference for electric vehicles contributes to the adoption of eco-friendly coolants solutions. This is increasing demand for the coolant and encouraging the market progress. Additionally, the presence of major automotive manufacturers’ foster research and development activities for advanced coolant technologies is fueling the market expansion. The Asia Pacific is witnessing a significant market growth due to the rapid industrialization and expanding automotive production bolster the demand for OAT coolants in the region. Increasing awareness about environmental conservation encourages the adoption of eco-friendly coolant solutions.

KEY INDUSTRY PLAYERS

"Key Players Transforming the market Landscape through Investment in the R&D and Strategy Partnership"

Many prominent industry players are focusing on development of efficient, cost-effective, and low-toxic products with a higher shelf life by continuous investment in research and development activities. There are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for making and developing new products and stay ahead in the market.

LIST OF MARKET PLAYERS PROFILED

• Totachi (Singapore)
• PEAK Auto (India)
• EPPCO LUBRICANTS (UAE)
• Recochem (Canada)
• Shell (U.K.)
• ELF (U.S.)
• BASF (Germany)
• PrixMax (Australian)
• Phillips 66 (U.S.)
• Arteco (Belgium)
• Mobil (U.S.)
• Chemtex Speciality Limited (India)
• Gold Modun (U.S.)
• Prestone (U.S.)
• IACC (India)

INDUSTRIAL DEVELOPMENT

April 2024: BAASF’s Coatings department revealed that it was expanding its e-coat production facility at its Manila site. The motivation behind this strategic expansion is the growing demand for e-coat solutions from the ASEAN and South Asian market as well as from regional automotive OEM clients in India.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global asset appraisal service market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably