Best Coolant for 1992-2001 3rd, 4th-gen Camry
After studying up on coolant composition and differences, I decided the best is TOY RED; followed by Zerex Asian; followed by non-green Peak.
TOY Red has phosphates that protect the aluminum but no Silicates or Borates that can harm gaskets/seals. However, TOY Red is only best if the system has never been changed out with American-style green (like Prestone), because once silicates have been introduced, the TOY Red will allow them to drop out of solution and build up. If the RED has been changed out, go with PEAK (but not the green). Newer TOYs use TOY PINK which is different.
Zerex Asian is the only thing on the American market that is the same formula as Toyota (has phosphate but no silicate). However, because it comes premixed, you have to buy twice as much. So, depending on your dealer (and your NAPA), it may be cheaper to buy TOY RED and distilled water. Looks like the only place to buy Zerex is at some NAPA stores.
The only difference between Peak Longlife and PEAK Global is that Global has an additive which allows it to top-off a vehicle using DexCool-type (GM or some Euros). Though the PEAK products are silicate-free, they lack the phosphate protection, replacing it with a different acid. It would work for replacing non-TOY RED coolant (in a system that's been running something non-OEM, and would need a full flush).
The silicate and phosphate free coolants are called OAT (Organic Acid). These Camrys like HOAT (Hybrid OAT). Anytime a different formula is used, the system should be well-flushed because, I learned, coolants do not mix well, regardless of label claims.
Some people will say that coolant is coolant. But I learned that isn't true today like it was 15 years ago (if somebody tells you that, ask them their age

). Surprisingly, the Japanese formula has never been commonly available in the US (you'd think they'd jump on this market) and people have happily used American-green. I also know that I used to just use Prestone and the first thing to go out on all my TOYs was the water pump and a couple times, gaskets. So this time I asked here and studied up. Oddly, TOY manual specs aren't picky at all and neither are many of the dealers but then again most shops will put tap water in.
Prestone makes a Long-Life and there are house brands, too, but none seem to have the formulas that the above three have. Silicates and Borates are sharp, microscopically, and take their toll on the aluminum and gaskets in the Japanese-style parts (which can be rubber, nylon), whereas they are needed in the American style systems (lead solder, copper parts).