Global Automotive Coolant and Lubricant
Market Report
2024
Automotive Coolant and Lubricant Market size is USD 4897.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 1.10% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Automotive Coolant and Lubricant market size is USD 4897.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 1.10% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Coolant and Lubricant Market Sales Revenue 2024 | $ 4897.2 Million |
Global Automotive Coolant and Lubricant Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.1% |
Market Drivers:
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Market Restrains:
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Market Trends:
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Market Split by Vehicle Type |
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Market Split by Technology |
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Market Split by Application |
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Market Split by End-user |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Coolant and Lubricant Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The automotive coolant & lubricant market is a vital sector within the automotive industry, essential for ensuring the efficient operation and longevity of vehicle engines and components. Coolants, typically based on ethylene glycol or propylene glycol, regulate engine temperature by dissipating heat and preventing overheating, thus safeguarding against engine damage and enhancing performance. Lubricants, including engine oils, transmission fluids, and greases, play a crucial role in minimizing the friction between moving parts, avoiding wear and tear, and maintaining optimal engine function. With the surging demand for high-performance vehicles and stringent emission regulations, there is a growing emphasis on advanced coolant and lubricant formulations that offer improved efficiency, durability, and environmental sustainability. Additionally, technological advancements such as synthetic lubricants and long-life coolants further drive market growth.
Automotive coolant and lubricant is an oil-like substance used to transfer the heat away from the engine and to the radiator, which then transfers it into the air. Coolants work as a secondary heat sink for the engine and help keep the engine from a temperature breakdown. Coolant also called anti-freeze, is a bright yellow or green fluid substance that blends with the water added to vehicles both diesel and gasoline to keep the engine operating at a proper temperature and prevent freezing or overheating. Lubricant denotes any ingredient that is materially combined to eliminate resistance between any two surfaces that are in movement. Lubricants help to avoid material damage, wearing away, weathering, and rust development on metal surfaces.
Ethylene glycol demand in the automobile industry is driving the market's compound annual growth rate (CAGR) for automotive coolants and lubricants. Because ethylene glycol has a much lower melting point than water, it acts as a coolant to prevent overheating in the summer and prevents ethylene engines from freezing in the winter. Additionally, automobiles use ethylene glycol to absorb combustion heat, which is anticipated to create profitable prospects for the automotive coolant industry.
• For instance, In January 2022, ExxonMobil and SABIC announced the startup of the Gulf Coast Growth Ventures manufacturing facility in Texas. This newly launched facility includes the monoethylene glycol unit with a capacity of around 1.1 million metric tons in a year.
(Source:https://corporate.exxonmobil.com/news/news-releases/2022/0120_exxonmobil-and-sabic-start-operations-at-gulf-coast-manufacturing-facility)
• For instance, In July 2021, India Glycols Limited and Clariant AG announced a successful joint venture for the renewable ethylene oxide derivatives, under the name Clariant IGL Specialty Chemicals Private Limited.
(Source:https://www.clariant.com/en/Corporate/News/2021/07/Clariant-and-India-Glycols-successfully-established-joint-venture-for-renewable-ethylene-oxide-deriv)
• For instance, In January 2020, the Indorama Ventures Public Company completed the acquisition of Texas-origin Huntsman Corporation's chemical intermediate and surfactant business, with ethylene oxide, monoethylene glycol unit, propylene oxide, and others as production assets in Texas.
(Source:https://www.indoramaventures.com/en/updates/other-release/1368/indorama-ventures-concludes-us2-billion-acquisition-of-huntsmans-integrated-eo-po-assets)
The industry is expanding as a result of various nations' governing bodies enforcing strict pollution and emissions regulations to save the environment. Furthermore, major firms are developing eco-friendly lubricants by implementing more sustainable procedures. Additionally, environmentally friendly lubricants are made to minimize the negative effects of automotive operations on the environment, enhance fuel efficiency, and reduce toxic emissions. Accordingly, the marker growth is being supported by the introduction of synthetic lubricants with lower toxicity and bio-based lubricants. In addition, tax breaks and subsidies are being offered by the government to encourage the use of environmentally friendly lubricants.
Growing environmental concerns force the car industry to investigate alternate technology. One such stage is the development of battery-electric vehicles (BEVs). These vehicles are powered by batteries and a range of management technologies that entirely eradicate pollutants while also improving performance. Additionally, since internal combustion engines are not required in battery-powered electric vehicles, coolants are not used in these vehicles, which hinders the growth of the industry.
The COVID-19 epidemic significantly altered the state of the world economy. Concerns about impending company closures and the recession affected the demand for car coolants. Furthermore, while fewer automobiles are operating on the roads due to lockdown orders, fewer new car registrations have occurred. However, the car industry is beginning to turn things around and offer high-quality vehicles to meet the growing demand from customers all around the world. Production in the automobile sector increased significantly in 2022, and this growth is expected to continue throughout the projected period. It is anticipated that throughout the forecast period, the demand for coolant will rise significantly due to the growing number of automobiles on the road.
Mineral oils that have undergone substantial processing to enhance their performance qualities and satisfy the demands of contemporary automotive technologies are known as synthetic lubricants. Biodegradable and environmentally friendly bio-lubricants are also included in this section. In the past, synthetic lubricants were regarded as high-end goods and were not widely used. However, the advancement of engine technologies and environmental concerns is accelerating the use of synthetic coolants and lubricants. In response to consumer demand, these solutions provide longer oil drain intervals than their mineral lubricant counterparts. Furthermore, lower vehicle emissions, better hardware compatibility, and increased fuel efficiency are also advantages of synthetic lubricating oils. These elements accelerate the use of synthetic lubricants, opening up new business prospects.
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By expanding their market presence and attracting new customers, the industry's players focus on leveraging the present business opportunities in the automotive lubricant and coolant market. Market participants are bringing new products to the market. Amsoil Inc., BP plc, Chevron Corporation, China National Petroleum Corporation, Exxon Mobil Corporation, Fuchs Group, Petronas Lubricants International Sdn Bhd, Phillips 66 Company, Royal Dutch Shell plc, SK Lubricants Co. Ltd., Total SE, Valvoline Inc. Additionally, they are establishing partnerships, manufacturing facilities, and distribution networks to meet the expanding need for electric vehicles across a range of geographic areas.
In February 2023, UPM Biochemicals and HAERTOL partnered to produce a new range of carbon-neutral engine and battery coolants that will assist automotive manufacturers in minimizing their CO2 footprint.
(Source:https://www.upmbiochemicals.com/)
Top Companies Market Share in Automotive Coolant and Lubricant Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue as the region boasts a large automotive industry with significant vehicle manufacturing and ownership levels. Further, stringent regulations regarding emissions and fuel efficiency drive the demand for high-quality coolant and lubricant products to optimize engine performance. Additionally, the presence of major automotive OEMs and lubricant manufacturers in North America enhances market accessibility and distribution channels, further consolidating the region's dominance in the automotive coolant and lubricant sectors.
Asia-Pacific stands out as the fastest-growing region in the Automotive Coolant & Lubricant market. The expanding automotive industry in developing countries drives the demand for coolant and lubricant products to support vehicle manufacturing and maintenance. Additionally, increasing vehicle ownership, coupled with rising consumer awareness about the importance of engine maintenance, fuels the market growth. Moreover, infrastructure development and urbanization contribute to higher vehicle usage, leading to greater demand for coolant and lubricant products in the Asia-Pacific region.
The current report Scope analyzes Automotive Coolant and Lubricant Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Automotive Coolant and Lubricant Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Coolant and Lubricant Industry growth. Automotive Coolant and Lubricant market has been segmented with the help of its Vehicle Type, Technology Application, and others. Automotive Coolant and Lubricant market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, Based on the vehicle type the market is segmented into passenger cars, LCVs, and HCVs. Passenger cars are expected to dominate the market in 2024 and it has the highest revenue. Automobiles, usually referred to as passenger cars, depend on lubricants to run smoothly and effectively. Engine oil and gearbox fluid are two examples of lubricants that are essential for lowering friction between moving parts of the engine, gearbox, and other vital sections of the machinery. They remove heat, stop deterioration, and guarantee peak performance, prolonging the vehicle's life. Oil changes and other routine maintenance help passenger cars stay fuel-efficient and meet emission regulations. Lubricants also help reduce harmful emissions by improving engine performance and reducing friction, which is in line with environmental and regulatory concerns in the automobile sector.
• For instance, in March 2021 Exxon Mobil Corporation signed an agreement with Nissan Motor India to supply lubricants for the passenger vehicles (PV) aftermarket business. These engine oils are suitable for India BS-VI standards.
(Surce:https://auto.economictimes.indiatimes.com/news/aftermarket/exxonmobil-signs-pact-to-supply-lubricants-to-nissan-motor-india-pv-aftermarket-biz/81782275)
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Coolant and Lubricant Industry. Request a Free Sample PDF!
According to cognitive market research,the automotive coolant market segmentation, based on technology, includes inorganic additive technology (IAT), organic additive technology (OAT), and hybrid organic acid technology (HOAT). The organic additive technology (OAT) segment dominated the market, accounting for major market revenue over the forecast period. Leading producers are using cutting-edge technology to formulate car coolants, helping to provide phosphate- and silica-free goods that are pushing the market segment. It delivers ultimate all-weather protection to heavy-duty equipment engines for efficient working, gives extended replacement intervals, and provides superior corrosion protection to the cooling system.
• For instance, Shell Coolant Longlife Plus is a glycol-based premium OAT (Organic Additive Technology) coolant concentrate. It delivers ultimate all-weather protection to heavy-duty equipment engines for efficient working, gives extended replacement intervals, and provides superior corrosion protection to the cooling system.
(Source:https://www.shell.in/motorists/oils-lubricants/shell-coolant.html)
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to cognitive market research, automotive is the dominant category due to its indispensable role in maintaining the optimal performance and longevity of vehicles. Coolants and lubricants are essential fluids required for the smooth operation of engines, transmissions, and other critical components in automobiles. They provide vital functions such as heat dissipation, friction reduction, and corrosion prevention, thereby enhancing engine efficiency and reliability. With the global automotive industry continually expanding, the demand for coolant and lubricant products remains robust, driven by the ongoing production of vehicles and the need for regular maintenance and servicing to ensure optimal performance and longevity.
Based on end users, the automotive coolant and lubricant market is segmented into original equipment manufacturers and aftermarkets. OEMs launching innovative products to attract a wide range of consumers in the wake of rising vehicle sales across major regions in the world. In 2024, the aftermarket segment is expected to account for the largest share of the automotive coolant and lubricant market. This segment’s large market share is attributed to the surge in vehicle manufacturing, stringent government regulations related to CO2 emission, consumers' different mobility needs, and the development of transportation infrastructure.
• For instance, in December 2020, Recochem, a well-known manufacturer and distributor of automotive aftermarket fluids recently acquired KOST USA Inc. This company is the third biggest manufacturer of auto coolants in the U.S. KOST is known for its light-duty coolants as well as various functional fluids across the automotive aftermarket channels.
(Source:https://kostusa.com/kost-usa-is-aquired-by-recochem-corporation/)
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Automotive coolant and lubricant is an oil-like substance used to transfer the heat away from the engine and to the radiator, which then transfers it into the air. Coolants work as a secondary heat sink for the engine and help keep the engine from a temperature breakdown. Environmentally friendly lubricants are made to minimize the negative effects of automotive operations on the environment, enhance fuel efficiency, and reduce toxic emissions. Lubricants also help reduce harmful emissions by improving engine performance and reducing friction, which is in line with environmental and regulatory concerns in the automobile sector.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Vehicle Type | Passenger car, LCV, HCV |
Technology | Inorganic additive technology, Organic additive technology, Hybrid organic acid technology |
Application | Automotive, Industrial, Aerospace, Electronics, Others |
End-user | OEM, Aftermarkets |
List of Competitors | Shell, Exxon Mobil, British Petroleum, BASF, Chevron, Indian Oil, KOST, LUKOIL, Motul, Prestone, Sinopec, TOTAL |
This chapter will help you gain GLOBAL Market Analysis of Automotive Coolant and Lubricant. Further deep in this chapter, you will be able to review Global Automotive Coolant and Lubricant Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Vehicle Type Analysis 2019 -2031, will provide market size split by Vehicle Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Vehicle Type Analysis 2019 -2031
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Chapter 11 Market Split by Technology Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
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Chapter 13 Market Split by End-user Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Coolant and Lubricant market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Passenger car have a significant impact on Automotive Coolant and Lubricant market? |
What are the key factors affecting the Passenger car and LCV of Automotive Coolant and Lubricant Market? |
What is the CAGR/Growth Rate of Inorganic additive technology during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Coolant and Lubricant Market? |
Which region is expected to dominate the global Automotive Coolant and Lubricant Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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