Deicing Fluid Market - Forecast 2021-2026

Deicing Fluid Market Overview

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. The rate of increase in accidents and associated problems due to the accumulation of snow on aircraft are driving the market for deicing fluid in the forecasted period. According to ICAO, there was a 16% increase in the total accident in 2018-2019 in the United States and 12% globally. The fluctuation in climatic changes is also increasing the snowfall in cold countries which is further driving the demand for the deicing fluid market. The growing tourism activities in cold regions is one of the major factors driving the market for deicing fluid.

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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.