The cold flow improvers market is projected to register a CAGR of 5.9% between 2018 and 2023
NEW YORK, April 10, 2019 /PRNewswire/ -- The cold flow improvers market is projected to register a CAGR of 5.9% between 2018 and 2023.
Read the full report: https://www.reportlinker.com/p05764808/?utm_source=PRN
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.
Breakdown of the profiles of primary interviewees:
• By Company Type – Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
• By Designation – C Level - 50%, Director Level - 25%, and Others - 25%
• By Region – Asia Pacific - 50%, North America - 10%, Europe - 20%, Middle East & Africa - 10%, and South America - 10%
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.
Research Coverage:
The report covers the cold flow improvers market and the use of these materials in different applications across different regions.It estimates the size of the cold flow improvers market for 2018 and forecasts the growth potential of the market across different segments.
The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies adopted by them.
Key benefits of buying the report
This research report focuses on various levels of analysis, which include industry analysis (industry trends) and company profiles. These insights present views on the competitive landscape, emerging and high-growth segments of the cold flow improvers market, high-growth regions, and drivers, restraints, opportunities, and challenges in the cold flow improvers market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on cold flow improvers offered by the top players operating in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the cold flow improvers market
• Market Development: Comprehensive information about lucrative and emerging markets; analyzes markets for cold flow improvers in different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cold flow improvers market
• Competitive Assessment: In-depth assessment of strategies and products of the leading players in the cold flow improvers market
Read the full report: https://www.reportlinker.com/p05764808/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article