Dublin, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The "Latin America Antifreeze Market Report and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Latin America Antifreeze market reached a value of USD 737.44 million in 2021. The market is further expected to grow at a CAGR of 5.1% between 2022 and 2027 to reach a value of around USD 995.4 million by 2027.
In liquid cooled internal combustion engines, antifreeze is used as a coolant addition to modify the freezing and boiling points. By using these chemicals, liquid coolant is kept from freezing, which can seriously harm engines. Antifreeze is utilised as an engine coolant to lower the radiator's temperature and raise the boiling point of engine water. Antifreeze is also employed in the aerospace sector to eliminate moisture from aircraft wings, which can develop over time and add weight and unneeded drag to an aircraft's take-off.
Rising air traffic and significant investments in the research and development facilities for the aerospace and military industry in the region will spur demand for aircraft, which will positively impact the product demand and lead to an expansion of the Latin America antifreeze market as a whole.
In addition, the antifreeze market in the area is thriving owing to an increase in construction activities. Along with these factors, the expansion of mining operations and company research and development efforts are bolstering the market growth of antifreeze in Latin America.
Due to increasing socioeconomic conditions and simple loan clearance processes, the automotive sector is expanding quickly in Latin America and is anticipated to continue to do so in the years to come. The automotive industry has several upstream and downstream connections to various businesses and sectors.
Antifreeze is frequently used in the automobile industry to maintain the ideal temperature within a vehicle's engine by minimising the excess heat that is created while it is operating and preventing serious damage to its interior components. The product is appropriate for automotive applications due to its chemical inertness, superior thermal capacity, low viscosity, non-toxic characteristics, and anti-corrosive properties. Since coolant is important for cooling the engine, the expansion of the automotive engine coolant market is closely related to increased vehicle production. As a result, increasing vehicle production is viewed as one of the key factors driving the Latin America antifreeze market.
Additionally, the rising per capita income and higher living standards across many nations are increasing the passenger car sales. As a result, the demand for engine coolant and antifreeze is rising along with the sales and manufacture of passenger cars.
A significant factor contributing to the expansion of the antifreeze market has been identified as increased glycerine usage. Biodiesel byproducts such as glycerine and matter organic non-glycerine (MONG) can both be processed and filtered into fatty acids and glycerine. Glycerine is said to be a safer antifreeze than ethylene glycol. The increased acceptance and use of glycerine as an antifreeze agent during the forecasted period will be favourable for the Latin America antifreeze market.
Market Segmentation
The market can be segmented on the basis of products, technologies, applications, and countries.
Market Segmentation by Product
- Ethylene Glycol Based
- Propylene Glycol Based
- Glycerine Based
- Others
Market Breakup by Technology
- Organic Acid Technology Antifreeze (OAT)
- Inorganic Acid Technology Antifreeze (IAT)
- Hybrid Organic Acid Technology (HOAT)
Market Segmentation by Application
- Automobile
- Heat Transfer and Cooling System
- Aerospace
- Others
Market Breakup by Country
- Brazil
- Argentina
- Mexico
- Chile
- Others
Key Topics Covered:
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
4 Key Assumptions
5 Executive Summary
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Antifreeze Market Analysis
9 Regional Analysis
10 Market Dynamics
11 Value Chain Analysis
12 Competitive Landscape
13 Key Trends and Developments in the Market
Companies Mentioned
- Shell plc
- TotalEnergies
- Roux Industrial Grupo
- Prestone Products Corporation
For more information about this report visit https://www.researchandmarkets.com/r/oou5t7
