Automotive Coolant After market Size, Share, and COVID Impact Analysis, By Vehicle Type (Passenger Vehicle, Commercial Vehicles, and Two-Wheelers), By Product Type (Ethylene Glycol Coolant, Glycerol Coolant, Propylene Glycol Coolant, and Others) and Regional Forecast, 2024-2032

The automotive coolant aftermarket is an important part of the automobile industry that has been gaining significant traction in recent years and is projected to grow in the coming years. Automotive coolant, an important fluid, is used in liquid-cooled vehicles to maintain the temperature of the vehicle, especially the engine. The aftermarket segment of the coolant consists of sales, distribution, and installation of liquid-cooled products and services beyond the OEM channels. The demand for more technologically advanced vehicles demands advanced cooling and, thus, demand for aftermarket high-quality, effective coolant products.

These coolants are designed to meet the owner's performance requirements, including heat transfer efficiency, corrosion protection, and compatibility with different engine materials. As the global automotive sector expands and more vehicles age, the need for coolant replacement and maintenance becomes frequent, creating a sustained demand for aftermarket coolant products.

Impact of COVID-19 on the Automotive Coolant Aftermarket

COVID-19 had a substantial impact on the economy and the coolant aftermarket market. The slowdown in Public transportation and disruptions in office work led to reduced demand for vehicles and maintenance. The pandemic has led to a decline in revenue for maintenance shops and companies. The pandemic also raised concerns about the safety of service centers due to the risk of viruses transmitted through services. This also led to a decrease in the aftermarket of automotive coolant because it's directly related to the automotive maintenance sector. The implementation of lockdowns, travel restrictions, and social distancing procedures to mitigate the spread of the COVID-19 virus resulted in a substantial decrease in the demand for vehicles. As countries ease restrictions and the automotive industry recovers, there may be a resurgence in vehicle usage and maintenance needs. This recovery could increase demand for automotive coolant in the aftermarket as vehicle owners catch up on postponed maintenance and repairs.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter's Five Forces Analysis.


• Technological Developments.


• Impact of COVID-19 on the Automotive Coolant Aftermarket.

Analysis by Vehicles Type

The vehicle type segment includes passenger vehicles, commercial vehicles, and two-wheelers. Automotive coolant aftermarket provides users with various coolant options based on their needs. Whether it's a high-density performance coolant for sports bikes or cars, Aftermarket platforms typically offer a variety of vehicle types to cater to diverse coolant requirements. The demand for passenger vehicles in the context liquid cooled advanced vehicles has grown significantly in recent years.

These coolants offer an alternative to affordable and accessible coolants, allowing individuals to optimize their vehicles on-demand without the responsibilities and costs associated with expensive after-sales and service. Passenger cars can have advanced safety as they provide better cooling and fuel efficiency for the drivers, especially in congested urban areas, leading to increased demand for coolants. Additionally, the growing popularity of compact cars and sedans is expected to drive growth in this segment.

Analysis by Product Type and Technology

Ethylene glycol coolant is expected to maintain its leading position in the market owing to its wide usage in the automotive industry as it has excellent heat-transferring capabilities and low cost. It has been one of the dominant types of coolant in the aftermarket, and it's expected to continue its strong presence in the automotive after-sales and service market.

Analysis by Region

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The highest growth rate is expected in the Asia Pacific market, especially India and other south East Asian countries, due to having major manufacturers of coolants as well as the growing number of automobiles. High automation and the presence of major manufacturers of vehicles will positively impact coolant sales, thus increasing efficient and reliable vehicle popularity in the Asia Pacific. The rapid adoption of vehicles and their affordability by consumers will boost market growth in the region.

Key Players Covered

BASF SE (Germany), Exxon Mobil Corporation (U.S), TotalEnergies (France), Royal Dutch Shell PLC (U.K.), Valvoline LLC (U.S), Motul S.A. (France), Castrol Limited (U.K.), Sinopec Lubricant Company (China), and Petroliam Nasional Berhad (Petronas) (Malaysia).

Segmentation

Key Industry Developments

• Aug 2022: Valvoline Cummins, a global lubricant manufacturer, introduced the glycol-based full-antifreeze coolant for cars and commercial vehicles, Valvoline Advanced Coolant. The company claims the product is incorporated with OAT technology, which provides five years or up to 5,00,000 Km of service life/drain interval.

• Jan 2023: BASF launched LYSANTIN engine coolants into the market. When it comes to engine coolants offer a unique combination of German premium quality and multiple protection features, making them suitable for a versatile range of applications and industry sectors.