The new report by Expert Market Research titled, ‘Pour Point Depressants Global Market, Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028’, gives an in-depth analysis of the global pour point depressants market, assessing the market based on its segments like product, end use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
North America is estimated to be witnessing a significant growth by 2026, owing to the increasing economic growth and large automotive manufacturing hubs. Product innovation in pour point depressant products to further improve fuel efficiency and the overall vehicle performance is expected to lead the demand for these lubricant additives in the region. Additionally, rising oil extraction activities due to growing demand for crude oil derivatives like gasoline and diesel will also strengthen the market for pour point depressants as these help in pumping oil efficiently.
The European market is being driven by the rising inclination towards air transportation and the consequent use of such additives in jet fuel to prevent the formation of any ice crystals in aircraft engines.
Pour Point Depressants Industry Definition and Major Segments
Pour point depressants are polymers which prevent large crystal networks from forming heavy wax at cold temperatures and maintain the flow of oil. They are typically used in paraffinic base oils and most paraffinic motor oils comprise of pour point depressants.
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Based on product, the market is segmented into:
- Styrene Esters
- Ethylene Co-vinyl Acetate
- Poly Alpha Olefin
Different end uses of the market involve:
- Oil and Gas
The major regional markets include:
- North America
- Latin America
- Middle East and Africa
Pour Point Depressants Market Trends
Pour point depressants are tolerant in high weather and are capable of monitoring wax formation in lubricants at low temperatures, making it a common choice for high quality fuels and lubricants in the automotive industry. Along the same lines, the increasing consumer understanding of vehicle maintenance is propelling the market for such additives.
The overall booming industrialisation, globally, is creating opportunities for the market as demand is stimulated from various end use industries including oil and gas, aviation, automotive, and manufacturing which is expected to expand the pour point depressant market in the forecast period. Pour point depressants improve the flow of crude oil in operations related to oil.
Key Market Players
The major players in the market are INEOS AG, The Lubrizol Corporation, Evonik Industries AG, Sanyo Chemical Limited, Afton Chemical Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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