The Automotive Coolant and Lubricant Market was valued at US$ 352 million in 2021 and is estimated to reach US$ 414 million by 2027, with a CAGR of 12.10% from 2022 to 2027.

The market for automotive coolants and lubricants is expected to grow very slowly. Asia Pacific is expected to lead the global automotive coolants and lubricants market, followed by North America, and is expected to grow during the forecast period from 2022 to 2027.

Market Drivers and Restraints:

The rapid increase in vehicle sales in developing countries and advancement in general conditions have led to significant demand for these coolants and lubricants, with coolants contributing about 66% of the total coolants and lubricants market in terms of value. Various drivers of the lubricants and coolants market include growing interest in light passenger vehicles and heavy commercial vehicles, the rising cost of conventional fuels, and an increase in the average life expectancy of vehicles in this sector. Similarly, stringent emission standards enforced by governments will drive the automotive lubricants and coolants market. The selection of bio-based oils that mitigate unsafe environmental impacts is the current pattern and will support the overall development of the market. Interest in the environmental friendliness of vehicles has led to the replacement of conventional lubricants with engineered lubricants.

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The report is segmented as follows:

The Automotive Coolant and Lubricant Market is segmented by Vehicle Type; the Market is segmented by Application:

By Vehicle Type (Passenger Car, LCV, & HCV)

By Application (Coolant-Engine & HVAC, Lubricant-Engine, Brake, & Transmission)

Market Regional Segmentation:

Refrigerants and lubricants business segments are estimated to be the largest in Asia Pacific, which accounted for about 53.63% of the total industry in 2017 and 51.68% for lubricants and refrigerants separately. China is a major promoter of the development of the lubricants and coolants market in the Asia Pacific. The global interest in lubricants and coolants markets is driven by the growing number of vehicles across the globe, emerging government policies, and increasing life expectancy of vehicles. North America will take the second position in the lubricants and coolants business segments in 2017. A notable supporter of these businesses in the North American region is the U.S., which has the most vehicle production facilities in this area.

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Impact of the COVID-19 Pandemic on the Market:

The COVID-19 pandemic had a significant impact on the global economic landscape. Concerns about potential plant closures and recession hit the automotive coolant market. In addition, new vehicle registrations declined as lockdown measures restricted the number of vehicles allowed on the roads.

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