Antifreeze market to derive remarkable revenue from automotive applications, highly innovative product launches to fuel the industry expansion over 2017-2024
Endorsed by the rapidly growing automotive sector and the strong commercial air traffic flow across major geographies, antifreeze market has indeed accomplished appreciable gains in the recent years. Colloquially known as coolant, antifreeze is popularly used in automotive and aerospace engines for maintaining the overall engine temperature of the vehicle and its cooling system depending upon the atmospheric temperature. Using antifreeze efficiently helps to majorly enhance the engine performance, on the grounds of which many automakers have been giving extensive preference for the product to prevent freezing in the cooling engine of the automobile at a sub-zero temperature. Anti-freeze not only prevents corrosion and scale formation in the engine but also helps to improve its capability to transfer heat. Consequently, major antifreeze industry giants have been continuously enhancing their product efficiency and applicability. In fact, increasing popularity of engine cooling agents among several automakers has been primarily forecast to boost antifreeze market share over the years ahead.
U.S. antifreeze market size, by application, 2013 – 2024 (USD Million)
Currently, it has been observed that many automakers have framed different coolant specifications for various types of engine applications, which have been proving to be rather beneficial for antifreeze market. For instance, one of the renowned automakers, Volvo has set a new coolant specification for heavy duty engines, which are mainly used in marine, buses, HGVs, and power plant applications. Indeed, one of the leading lubricant manufacturers Exol, in order to meet the favorable requirements of the Volvo Coolant Specification standard, has also launched novel antifreeze products. The company also seems to have unveiled a wide range of antifreeze products for passenger and heavy-duty vehicle applications. Apparently, Exol has used the OAT inhibitor technology for this range, in order to match the automaker’s expectation with respect to the advanced technology in modern cooling systems in next-generation vehicles. Exol’s product innovation is indicative of the major anticipations that automotive giants have from pivotal antifreeze market players. Moreover, in order to ensure year-round protection of vehicle components in challenging atmospheric conditions, automakers have lately been preferring coolants with a long operational life. The shifting focus of product manufacturers on customer-centric requirements is thus slated to stimulate antifreeze industry outlook over the years ahead.
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Considering the customer’s requirement for internal coolants with a long shelf life, many players in antifreeze market are constantly looking forward to introducing the best products that boast of very high performance. In addition, with the rapid change in engine technology, most companies have been developing new products keeping in mind the future demand of engine maintenance. The initiatives taken by Shell lubricants to expand its portfolio is one of the recent examples of a customer-centric product advancement carried out by giants in antifreeze market. The new launch – Shell Rotella Extended Life Coolant – Nitrite Free (ELC NF) joins Shell’s coolant portfolio that has been designed to meet the requirements of commercial vehicles deploying nitrite free engine antifreeze formulations to protect aluminum components in automobiles. Indeed, in 2016, the automotive sector accounted for 60% of antifreeze industry share.
Speaking along similar lines, Alliance Truck Parts has also recently added new products to its portfolio with the launch of nitrite-free antifreeze products, for which the firm used organic additive technology to extend the life of the coolant. The coolants formulated with the help of OAT technology also possess the ability to provide advanced protection to all components of cooling systems against corrosion and cavitation, which has thus helped to expand the scope of this technology in antifreeze market.
It is very interesting to note that most participants in antifreeze market have been extensively adopting the OAT technology to fulfill the increasing product demand from the automotive sector. In consequence, this trend has been having an appreciable impact on antifreeze industry outlook. Indeed, many players in antifreeze market have been pouring in substantial capital to consolidate their stance in this business space. Some of the most noteworthy players in antifreeze industry are Exxon Mobil Corporation, Royal Dutch Shell, Ashland Inc., and Castrol.
Author Name : Sunil Hebbalkar
Global xylitol market to surpass the billion-dollar benchmark by 2023, China to be the chief growth avenue
The escalating scientific and commercial interest in xylitol is making the global xylitol industry an appealing commercialization proposition. The growing health consciousness among people has directly influenced the business landscape of the global xylitol market. Its properties of being used as a low-calorie substitute for traditional sweeteners is assisting its penetration across a myriad range of sectors such as personal care, food, pharmaceuticals, confectionary, and nutraceuticals. In addition, the rising healthcare expenditure, which has been indeed addressed as a global concern is further providing a significant impetus to the overall xylitol industry space. The U.S. is one of the prominent countries facing the healthcare costs burden profoundly. The trends depict that obesity is one of the leading causes of this rising expenditure, being the source of several other ailments such as diabetes, cardiac disorders, physical disabilities, etc. According to WHO, globally over 2.8 million people die from obesity and the consequent ailments on an annual basis.
U.S. Xylitol Market size, by application, 2013-2023 (Kilo Tons)
To combat the rising concerns regarding healthcare expenditure as well as to ensure sound health of the global population base, xylitol market has observed massive gains over the recent years. Xylitol has become a prominent name in the overall polyol industry space and had attained a remarkable revenue of USD 750 million in 2015. Through consumption via medicines and food, xylitol serves as a major solution to the issues related to obesity. This has subsequently enhanced the application portfolio of xylitol industry in the food and pharmaceutical sectors. As per the estimates, xylitol market size from food applications is estimated to register the highest CAGR of 7% over the period of 2016-2023.
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Owing to the medicinal properties, chewing gum applications led the overall landscape with a revenue record of over USD 450 million in 2015. The growth can be credited to the ability of xylitol based chewing gums to prevent dry mouth, tooth decays, and cavity progressions. As per the estimates, xylitol market share from chewing gum applications is estimated to record a CAGR of 6% over the timeframe of 2016-2024. Personal care industry is also one of the prominent contributors toward the overall xylitol market share. This application is poised to witness a substantial growth rate over the coming years, driven by its usage in fluoride tablets, mouthwash, and toothpaste.
The swift economic development and the rapid urbanization is significantly influencing the global landscape of the xylitol industry. Below are the regional trends pertaining to this market:
- The U.S. xylitol industry is expected to surpass a revenue of USD 350 million by 2023. The food applications in this region are likely to drive the product demand with a CAGR of 5.4% over the period of 2016-2023.
- Germany market is estimated to witness substantial growth over the coming seven years having held a revenue of USD 65 million in 2015. Chewing gum application is likely to drive the regional demand.
- China is estimated to be the major avenue for the overall xylitol industry growth over 2016-2023, with a target market size of 25 kilo tons by 2023. The huge regional confectionary base worth USD 9.5 billion is the major factor boosting the market trends.
- France market is estimated to grow at an annual rate of 5.5% over the coming six years, driven by the rising obese and diabetic patient base.
- Brazil personal care application is projected to exceed a revenue margin of USD 1.7 million by 2023.
The industry is consolidated with the top four players- Futaste Pharmaceutical, Danisco (DuPont), Yucheng Lujian Biological Technology Co. Ltd., and Hangzhou Shouxing Biological Technology Co. Ltd. sharing 40% of the overall business space. With a strong production base in China, the region has become a prominent export destination. Pricing is one of the chief parameters ruling the competitive scenario.
Despite the industry growth restraints including- tight raw material (corncob) supply and product substitute threat through the replacement by other sugar polyols such as sorbitol, maltol, and mannitol, the xylitol industry will sustain its valuation in the coming years with the diversified application spectrum across the end-use sectors. Global Market Insights, Inc. estimates the xylitol market to surpass a revenue of USD 1 billion by 2023.
Author Name :Shikha Sinha