The Middle East & Africa antifreeze market size is projected to reach US$ 454.79 million by 2031 from US$ 292.48 million in 2023; the market is expected to register a CAGR of 5.7% during 2023–2031. The use of environment-friendly and bio-based antifreeze is expected to emerge as a significant future trend in the Middle East & Africa antifreeze market.
Africa is experiencing a remarkable transformation in its automotive industry, defined by sustainability and innovations. In Africa, the untapped demand for automotive vehicles, along with a steady increase in consumer spending, is driving the growth of the automotive industry. Various automakers have gained substantial traction in the African market by offering affordable, feature-rich vehicles. Brands such as Great Wall Motors, Geely, Chery, and BYD have capitalized on the demand for cost-effective cars with modern amenities, including electric windows, Bluetooth connectivity, and high fuel efficiency. According to Fastener World Inc., in the Middle East, automotive industries in Saudi Arabia, the UAE, and Israel experienced sales growth of over 20%. Automotive is one of the major application areas of antifreeze. Antifreeze is used as an engine coolant in cars, trucks, and buses. It is used in car engines to prevent the engine’s cooling system from freezing and prevent it from overheating. Thus, strong growth of the automotive industry drives the Middle East & Africa antifreeze market
The antifreeze market in the Middle East & Africa is witnessing notable growth driven by increasing automotive production, rising temperatures, and a growing emphasis on vehicle maintenance. As countries in the region invest in infrastructure development and urbanization, the demand for efficient cooling solutions in vehicles and industrial machinery has surged. The major factors driving the Middle East & Africa antifreeze market are the strong presence of the automotive industry and growing demand from the industrial sector, along with the increasing passenger vehicle production and rising middle-class incomes.
The Middle East is witnessing a rise in manufacturing activities. Various global and regional companies are pledging to invest heavily in multiple projects in the Middle East, creating numerous jobs as well as taking advantage of the region’s infrastructure, connectivity, and abundant opportunities. According to Doha News, the industrial sector in Qatar has witnessed significant growth, with over 60 new factories opening in 2021. According to the Ministry Report on First-Quarter Industrial Sector Data, Qatar added 23 new factories from January to March 2022, highlighting substantial development in the sector in a short period. Further, Saudi Arabia is rapidly transforming into a global hub for manufacturing and production, driven by Vision 2030 objectives. The goal of the country is to multiply the industrial gross domestic product (GDP) by roughly three times to reach 895 billion SAR (~US$ 238 billion) by 2030, as well as double the job opportunities to 2.1 million and account for industrial exports of 557 billion SAR (~US$ 148 billion). With the growth of the industrial sector, the demand for antifreeze is increasing in the region. Thus, the rising demand for antifreeze from the industrial sector fuels the Middle East & Africa antifreeze market growth.
The energy sector in the Middle East is gradually transforming. The region is shifting its focus to renewables as a response to increasing population, rapid industrial growth, and a global drive to reduce carbon emissions. It has one of the world’s fastest-growing populations, with over 280 million people, which has increased by over 60% since 2000. This has resulted in a rapid increase in power demand. According to Rystad Energy’s latest research, renewables capacity in the Middle East is expected to expand in the coming years, with green energy sources overtaking fossil fuel in the power sector by 2040. In Middle Eastern countries, solar energy is becoming increasingly important in energy policies. Antifreeze fluids play a crucial role in maintaining the efficiency of the solar energy system even at low temperatures, preventing the fluid from freezing and damaging the installation. As the solar energy sector in the Middle East & Africa continues to grow, antifreeze fluids will continue to play a critical role in maintaining the performance and durability of solar energy systems.
Key segments that contributed to the derivation of the Middle East & Africa antifreeze market analysis are coolant type, technology, application, and distribution channel.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 292.48 Million |
Market Size by 2031 | US$ 454.79 Million |
Global CAGR (2023 - 2031) | 5.7% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Coolant Type
|
Regions and Countries Covered | Middle East and Africa
|
Market leaders and key company profiles |
The Middle East & Africa antifreeze market is evaluated by gathering qualitative and quantitative data from post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the Middle East & Africa antifreeze market are listed below:
The “Middle East & Africa Antifreeze Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The organic acid technology segment dominated the market in 2023. Organic acid technology products use propylene glycol as the base; therefore, they are less harmful to pets, kids, and the environment in case of spillover.
The market is expected to register a CAGR of 5.7% during 2023–2031.
The ethylene glycol segment held the largest market share in 2023. Ethylene glycol is an alcohol-based organic compound commonly used as an anti-freezing agent in HVAC equipment, vehicle systems, and other applications.
A few of the key players in the Middle East & Africa antifreeze market include SA Polichem, Valvoline Inc, Shell Plc, Castrol Ltd, Chevron Corp, Exxon Mobil Corp, TotalEnergies SE, Solventis Ltd, BASF SE, and Armor Lubricants.
The strong growth of the automotive industry and the rising demand from the industrial sector are driving the market.
The use of environment-friendly and bio-based antifreeze is emerging as a significant future trend in the Middle East & Africa antifreeze market.