Global $800+ Mn Cold Flow Improvers Market Forecast to 2023 with Lubrizol, Chevron Oronite, Clariant, Afton Chemicals, BASF, and Innospec Dominating
DUBLIN, April 24, 2019 /PRNewswire/ -- The "Cold Flow Improvers Market by Type (Ethylene Vinyl Acetate, Polyalpha Olefin, Polyalkyl Methacrylate), Application (Diesel Fuel, Lubricating Oil, Aviation Fuel), End-Use Industry (Automotive, Aerospace & Defense) and Region - Global Forecast 2023" report has been added to ResearchAndMarkets.com's offering.
The cold flow improver's market size is projected to grow from USD 605 million in 2018 to USD 806 million by 2023, at a CAGR of 5.9%.
Cold flow improvers are polymers or co-polymers additive which prevent the formation of crystals in fuel and lubricating oil which can clog the filters and feed lines at low temperature and cause engine shutdown. They are generally used in fuel and lubricating oil to lowers fuel's pour point (gel point), cloud point, and cold filter plugging point (CFPP) to improve its cold flow properties.
Increasing demand from emerging economies, increasing demand for environmentally-friendly products, and stricter fuel specification are creating growth opportunities for the market players. However, increasing demand for alternate fuel vehicles and high R&D cost act as a restraint to the growth of the market.
"Polyalkyl methacrylate segment is estimated to be the faster-growing type in the overall market during the forecast period"
The polyalkyl methacrylate based cold flow improvers segment is expected to witness the highest growth rate in the overall cold flow improvers market during the forecast period. Properties such as wax deposition inhibition and flexibility to blend with any fuel drive the demand of polyalkyl methacrylate based cold flow improvers.
"Diesel fuel segment is estimated to be the fastest-growing application of cold flow improvers"
The diesel fuel segment is the major consumer of cold flow improvers and is estimated to witness the highest CAGR during the forecast period. This is due to the increasing demand for high performance fuel from the automotive industry and adoption of biofuel mandates by various countries to reduce the consumption of petroleum products. This will increase the consumption of products such as ethanol and biodiesel which requires significant use of fuel additives such as cold flow improvers, corrosion inhibitors, and others to be blended in diesel fuel.
"Automotive is estimated to be the fastest-growing end-use industry of cold flow improvers"
The automotive end-use industry led the demand for cold flow improvers in 2017. The segment is also projected to be the fastest-growing end-use industry of cold flow improver during the forecast period due to the increasing demand for cold flow improvers as fuel additive and stricter fuel specification.
"The APAC cold flow improvers market is projected to witness the highest CAGR during the forecast period"
The APAC cold flow improvers market is projected to register the highest CAGR between 2018 and 2023. Growth in end-use industries such as automotive and aerospace & defense and expansion in the petroleum refining capacity are majorly driving the demand for cold flow improvers in this region. In APAC, countries such as China and India are the largest consumers of cold flow improvers due to their increasing refining capacity. China is estimated to be the key market in the region, whereas, the market in India is estimated to grow at the highest rate during the forecast period.
Some of the key companies profiled in this report are Lubrizol Corporation (US), Chevron Oronite (US), Clariant AG (Switzerland), Afton Chemicals (US), BASF SE (Germany), and Innospec (US), among others.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of Automotive Industry
5.2.1.2 Stringent Environmental Regulations
5.2.2 Restraints
5.2.2.1 Rise in Demand for Alternative Fuels
5.2.3 Opportunities
5.2.3.1 Increase in Demand for Ultra-Low-Sulfur Diesel (Ulsd)
5.2.4 Challenges
5.2.4.1 Expensive R&D Process to Formulate Cold Flow Improvers That Comply With Stringent Environmental Regulations
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Overview
6 Cold Flow Improvers Market, By Type
6.1 Introduction
6.2 Ethylene Vinyl Acetate
6.2.1 Increasing Oil Exploration Activities to Drive the Demand for Ethylene Vinyl Acetate Segment
6.3 Polyalkyl Methacrylate (Pama)
6.3.1 Increased Use in Automotive to Drive the Market for This Segment
6.4 Polyalpha Olefin
6.4.1 Increased Use in Oil & Gas Industry to Drive the Demand
6.5 Others
7 Cold Flow Improvers Market, By Application
7.1 Introduction
7.2 Diesel Fuel
7.2.1 Demand for Efficient Fuel Drives Demand for Cold Flow Improvers in Diesel Fuel
7.3 Lubricating Oil
7.3.1 Increasing Demand From Automotive Industry to Fuel the Growth of Market in This Segment
7.4 Aviation Fuel
7.4.1 Demand for Improved Performance of Jet Fuel to Boost the Market
7.5 Others
8 Cold Flow Improvers Market, By End-Use Industry
8.1 Introduction
8.2 Automotive
8.2.1 Need for Reduced Wax Crystal Formation in Fuel to Drive the Demand in Automotive Industry
8.3 Aerospace & Defense
8.3.1 Excellent Properties of Cold Flow Improvers to Drive the Demand in Aerospace & Defense
8.4 Others
9 Cold Flow Improvers Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking of Key Players
10.3 Competitive Scenario
10.4 Competitive Leadership Mapping
11 Company Profiles
- Afton Chemicals
- Baker Hughes
- BASF
- Bell Performance
- Cestoil Chemical
- Chevron Oronite
- Clariant AG
- Drof Ketal
- Ecolab
- Evonik Industries
- Infineum International Limited
- Innospec
- Lubrizol Corporation
- Tianhe Chemicals
- Total
For more information about this report visit https://www.researchandmarkets.com/r/yx1tys
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