Wilmington, Delaware, United States, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global radiator flushing chemicals market is projected to flourish at a CAGR of 5.1% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 10.4 billion is anticipated for the market in 2031. As of 2023, the market for radiator flushing chemicals is expected to close at US$ 6.9 billion.
Increasing use of radioator flushing chemicals in various end-use industries, including automotive, marine, industrial, and aerospace, is expected to drive the growth of the market during the forecast period.
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Competitive Landscape
The global landscape is highly competitive with the presence of several small to medium-sized manufacturers. According to the radiator flushing chemicals market forecast, companies are significantly investing in R&D to introduce innovative products. Transparency Market Research has profiled the following players in its global radiator flushing chemicals market report:
- Surekleen
- Total Coolant Management Solutions
- Australian Organic Coolants
- Prestone Products Corporation
- Valvoline Inc.
- Niteo Products, LLC
- The Penray Companies, Inc.
- Bar's Leaks
- CRC Industries, Inc.
- Nulon Products Australia
- Wynn's
- Liqui Moly GmbH
- Wurth USA Inc.
- Holts Lubricants
- Others
Key Developments in the Radiator Flushing Chemicals Market
- Niteo Products, LLC - introduced radiator flush and cleaner solutions that offer enhanced corrosion protection and compatibility with various cooling system materials, catering to the needs of modern vehicles.
- CRC Industries developed radiator flushing chemicals that are designed to restore and maintain the efficiency of cooling systems by removing accumulated deposits and improving heat transfer.
- Presto Products expanded its radiator flushing chemicals portfolio to include products that cater to specific vehicle types and coolant formulations, ensuring compatibility and effective cleaning.
Increasing advances in automotive industry and use of lightweight, low-emission engines has also increased, which has increased the demand for more efficient and effective cooling systems, boost the market growth
Increasing consumers are awareness about the quality of engine components, including radiator, on the back of increasing awareness about engine performance This is driving the demand for high-quality and reliable radiator flushing chemicals that can provide optimal cooling.
Increasing adoption of electric and hybrid vehicles, which require cooling systems to regulate the temperature of the battery and other components, is a major factor that is projected to accelerate the growth of the radiator flushing chemicals market.
Increasing government stringent regulations and increased environmental concerns are pushing consumers and service centers to maintain cooling systems regularly, which in turn is leading to increased usage of radiator flushing chemicals.
Key Takeaways from the Market Study
- As of 2022, the radiator flushing chemicals market was valued at US$ 6.6 billion
- Based on application, the automotive radiators application segment is likely to dominate the global industry in the near future.
- In terms of end-user, the automotive segment is projected to account for the largest global radiator flushing chemical market share from 2023 to 2031.
- Based on form, the liquid segment dominated the market during the forecast period.
Radiator Flushing Chemicals Market: Key Trends and Opportunistic Frontiers
- Increasing number of on road vehicles in developed and emerging markets, drives the demand for maintenance products like radiator flushing chemicals.
- Increasing disposable income, and rising standard of living, changing standard of living and growing automobile industry is likely to drive the radiator flushing chemical market.
- Radiator flushing chemicals help remove rust, scale, and sediment buildup in radiators and cooling systems, improving heat transfer and preventing overheating. As vehicle owners become more conscious of maintenance, the demand for these chemicals grows.
- Increasing technological advancements in vehicle design have led to more sophisticated cooling systems. The availability of radiator flushing chemicals in the aftermarket satisfies this demand.
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Radiator Flushing Chemicals Market –Regional Analysis
- Asia Pacific is expected to dominate the radiator flushing chemical market owing to the increased population rate, growing urbanisation, improved living standards, and more income level. Increased demand for vehicles maintenance products owing to the increasing vehicle ownership drive the market demand.
- North American market is significant due to the high vehicle ownership rates and well-established automotive aftermarket. The increasing consumer spending on vehicle maintenance, contributing to the demand for radiator flushing chemicals. Strict environmental regulations also drive the use of environmentally friendly and compliant products.
Radiator Flushing Chemicals Market - key Segments
Form
- Liquid
- Powder
Type
- Inorganic Acid-based
- Organic Acid-based
- Neutralizing
- Others
Application
- Automotive Radiators
- Industrial Radiators
- HVAC Systems
- Heavy Machines
- Marine Radiators
- Aerospace Radiators
- Others
End-use
- Automotive
- Marine
- Industrial
- Aerospace
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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