Supplemental Coolant Additives Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Supplemental Coolant Additives Market: Overview

• Supplemental coolant additives are chemical additives added to coolants in gel, liquid, or powder forms to boost the corrosion inhibiting properties of coolants and inhibit other damage
• Supplemental coolant additives also function as cooling media. These coolant additives help prevent overheating.
• Supplemental coolant additives are based on various compounds including silicate, nitrite, molybdate, and azole. These coolants are formulated with the use of premium grade chemical compounds and advanced methodologies in order to make them resistant to corrosion and fungi.
• Supplement coolant additives improve cooling efficiency, help prevent overheating, enhance lubricity, and provide protection from damage

Rise in Demand for Supplemental Coolant Additives in Automotive Industry

• The supplemental coolant additives market is anticipated to expand significantly during the forecast period. Rise in population, increase in demand for vehicles, and growth in disposable income are key factors expected to boost the demand for supplemental coolant additives during the forecast period.
• Increase in production of automotive is driving the demand for automotive accessories. This, in turn, is boosting the demand for supplemental coolant additives. Supplemental coolant additives play an important role in maintenance and functioning of automotive engines.
• Rise in consumer demand for high vehicle performance and product longevity is driving manufacturers to develop innovative technologies and products. Supplemental coolant additives improve engine performance and the overall life of the vehicle. Thus, demand for supplemental coolant additives has increased in the automotive sector. This is anticipated to propel the market during the forecast period.

Liquid Form Segment Estimated to Offer Lucrative Opportunities

• Based on form, the global supplemental coolant additives market can be segmented into liquid, powder, and gel
• Liquid is anticipated to be a rapidly growing segment of the global supplemental coolant additives market during the forecast period. Liquid supplemental coolant additives are widely used to increase the life of coolants.

Molybdate Supplemental Coolant Additives Type Segment to Offer Significant Opportunities

• Based on type, the global supplemental coolant additives market can be segregated into nitrite supplemental coolant additives, molybdate supplemental coolant additives, silicate supplemental coolant additives, and others
• Molybdate supplemental coolant additives segment is projected to be a rapidly growing segment of the global supplemental coolant additives market during the forecast period
• Molybdate supplement coolant additives are primarily employed in heavy duty diesel engines in order to improve engine performance

Automotive End-use Segment to Hold Major Share of Market

• Base on end-use, the global supplemental coolant additives market can be classified into industrial machinery, automobile, HVAC, and others
• The Automotive segment accounts for prominent share of the global supplemental coolant additives market due to the rise in demand for supplemental coolant additives in the automotive industry
• Automotive engines are prone to corrosion in modern high speed filters. Corrosion adversely affects the engine life. Supplemental coolant additives enhance corrosion inhibiting properties of coolants.

Asia Pacific to Hold Significant Share of Global Supplemental Coolant Additives Market

• In terms of region, the global supplemental coolant additives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is anticipated to constitute significant share of the global supplemental coolant additives market in the near future. Growth in the automotive sector, especially in China and India, is likely to drive the supplemental coolant additives market in the region.
• North America and Europe region are increasingly adopting alternative coolants, which do not require supplemental coolant additives. This is anticipated to negatively affect the supplemental coolant additives market in these regions. However, demand for supplemental coolant additives is projected to remain steady in North America and Europe owing rise in demand for high performance engines in some countries in these regions.
• The supplemental coolant additives market in Latin America and Middle East & Africa is likely to expand at a steady pace during the forecast period