Portland, OR, Aug. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global plant antifreeze market was estimated at $1.9 billion in 2021 and is expected to hit $3.0 billion by 2031, registering a CAGR of 5.0% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.9 Billion |
| Market Size in 2031 | $3.0 Billion |
| CAGR | 5.0% |
| No. of Pages in Report | 215 |
| Segments Covered | Product, Application, and Region. |
| Drivers | Rapid industrialization and increase in disposable income |
| Growth and expansion of the agriculture sector & horticulture sectors in developing economies | |
| Opportunities | Different development strategies adopted by manufacturer |
| Introduction of various packaged food products coupled with growing consumer preference for the same | |
| Restraints | Presence of substitute packaging products |
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Covid-19 scenario-
- The supply of agro-food products to marketers and consumers are held both within and across the border during the first quarter of 2020, which impacted the global plant antifreeze market.
- At the same time, several synthetic plant antifreeze product manufacturing companies either shut down or shrank their operations due to the risk of infection among the workforce, which hampered the market growth temporarily. However, the market has started getting back on track.
The global plant antifreeze market is analyzed across product, application, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on product, the propylene glycol segment held more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 5.5% throughout the forecast period. The ethylene glycol, glycerin, and methanol segments are also analyzed in the report.
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By application, the cereals segment garnered nearly half of the global plat antifreeze market in 2021, and would rule the roost by the end of 2031. The same segment would also display the fastest CAGR of 5.5% from 2022 to 2031. The horticulture crops, cash crops, and turfs & ornamental crops segments are also assessed in the study.
Based on region, the market across North America generated nearly half of the global plant antifreeze market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, however, would manifest the fastest CAGR of 5.5% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global plant antifreeze market report include Bayer AG, Chevron Phillips Chemical Company LLC, DuPont, ADAMA, ExxonMobil Corporation, Gharda Chemicals Ltd, Nufarm, Sumitomo Chemical Co., Ltd., and BASF SE. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
