Automotive Coolant & Lubricant Market: Market

The market for coolant and lubricant is very huge and is anticipated to increase rapidly in terms of value at a CAGR of 7.38% and 9.21% for the period under consideration. The rapid increase in sales of vehicle in developing countries and development of infrastructure has created a strong demand for these coolants and lubricants, where the coolant contributes approximately 65% to the total coolant and lubricants market in terms of value.

The other drivers of Automotive lubricant and coolant market are the increasing demand for light passenger vehicles and heavy-duty vehicles, increasing prices of conventional fuels, and the rise in the average lifespan of vehicles in operation. In addition, stringent emission norms imposed by governments will also drive the lubricant and coolant markets for automotive. The adoption of bio-based lubricants which will reduce harmful environmental effects is the current trend and it will boost the overall growth of the market. The demand for fuel efficiency of vehicles has led to the replacement of traditional lubricants with synthetic lubricants.

Scope of the Report

In this research study, the global automotive coolant and lubricant markets are classified into four major segments

Automotive Lubricant and Coolant Market, by Vehicle Type
Passenger Car
LCV
HCV
Automotive Lubricant and Coolant Market, By Application
Engine coolant
HVAC coolant
Engine Lubricant
Brake Lubricant
Transmission lubricant

The sizes of the lubricant and coolant markets, in terms of volume, are projected to grow at a CAGR of 8.10% and 6.73% respectively from 2014 to 2019 and reach 408.48 Million gallon and 346.62 Million gallon by 2019.

Lubricant and coolant form an integral part of any vehicle. The increasing demand for light passenger vehicles and heavy-duty vehicles and the rising average lifespan of vehicles in operation are factors driving the demand for lubricant and coolant. In addition to this, growing vehicle sales and production in developing countries have created an opportunity for lubricant and coolant manufacturers.

The global market volume for lubricant and coolant is projected to reach 408.48 Million gallon and 346.62 Million gallon respectively by 2019. The markets for lubricant and coolant are estimated to be the largest in the Asia-Oceania region, which has a market share of about 52.1% and 50.0% for lubricant and coolant respectively in 2014. China is the major contributor to the growth of the lubricant and coolant markets in the Asia-Oceania region. The global demand for the lubricant and coolant markets are propelled by the increasing number of vehicles across the globe, the upcoming government regulations, and the increasing average lifespan of vehicles. North America is estimated to hold the second position in the markets for lubricant and coolant in 2014. A major contributor to these markets in the North American region is the U.S., which has the largest production of vehicles in this region.