[FURL=https://www.industryarc.com/Report/15911/deicing-fluid-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Deicing Fluid Market[/FURL] Deicing Fluid market size is forecast to reach US$ 2.3 billion by 2026, after growing at a CAGR of 5.2% during 2021-2026. Deicing fluid is the procedure of removing ice, snow from a surface and lower the freezing point of water. Ethylene Glycol and Propylene Glycol are major compounds used for ant freezing substances and is commonly used as an aircraft deicer and as an automotive antifreeze solution. The cold climatic region has a higher demand for deicing fluid. It is widely used in aviation, transportation, and other facility management in cold region across the globe.Key Takeaways
North America dominates the deicing fluid market, owing to the increasing demand for the Aerospace industry in the region. According to Aerospace Industrial Association, in 2019, the Aerospace & Defense industry contributed local tax revenues to US$ 17.6 billion in US state and US$ 46 billion in federal tax revenue.
Ethylene Glycol and Propylene Glycol-based Deicing Fluid are increasingly being replaced to mechanical methods of scrapping, heating because of higher specific strength and corrosion Inhibitors.
There has been an increase in accidents and snow deposition in most of the cold climate region such as delay in flight operations and facing difficulty in taking offs are consecutively driving the market growth.
The major opportunity for this market is high research spending and growing awareness in society.
Furthermore, it is also an opportunity for this market to develop advanced tools for the development of the deicing product.
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Deicing Fluid Market Segment Analysis – By Geography
North America region accounted for approximately 43% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The increasing population and per capita income are boosting the aerospace industry in the region. According to Boeing's 2020 Commercial Market Outlook (CMO), North America commercial airplanes, economic growth is 1.9%, airline traffic growth is 2.7% and airline fleet growth is 1.7%. Thus, with the flourishing aerospace industry, there will be an upsurge in the demand for aircraft maintenance, which is anticipated to drive the Deicing Fluid market in the North American region.
Deicing Fluid Market Drivers
Increasing demand in Industrial Sector
Flourishing Aviation Sector
Deicing Fluid Market Landscape
Deicing Fluid market top companies are Clariant International, The Dow Chemical, Kilfrost, Proviron Holding NV, Cryotech Deicing Technology, LNT Solutions, LyondellBasell Industries NV, Integrated Deicing Services, Henan Allrich Chemical, Abax Industries SAS
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