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Cold Flow Improvers Market Segmented By Polyacrylate, Ethylene Vinyl Acetate, Polyalkyl Methacrylates Product Type, Used in Industrial, Aerospace, Automotive
Paraffins, comprising up to 30% of diesel fuel, contain waxy crystals that become visible and cause operability issues when the fuel temperature lowers, leading to blockage of fuel liners and filters. The temperature at which these crystals are visible is called ‘cloud point’, while the lowest temperature at which fuel will flow is called ‘pour point’.
High pour point fuels may lead to various issues such as formation of wax that disrupts process lines, blockage of pipelines, and solidification in storage tanks.
Cold flow improvers are specific kind of diesel fuel treatment used to improve the low temperature performance of these fuels. They are widely used in a number of lubricant and oil & gas applications, owing to their ability to control the formation of wax crystals in process units and pipelines. Rising scope of application is one of the key factors propelling cold flow improvers market growth.
The global cold flow improvers market is expected to attain a valuation of US$ 980.8 million in terms of revenue by the end of 2018, growing at a promising CAGR of 5.2% over the assessment period of 2018-2027. The global cold flow improvers market is foreseen to cross a value of US$ 1.5 billion by 2027-end, while representing an incremental opportunity of US$ 563.18 million during the forecast period.
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Economic growth, mass urbanization, and rapid industrialization in various regions across the globe are the key factors driving the growth of automotive industry. Rise in automotive sales has been directly influencing the demand for cold flow improvers that help lubricant additives to meet low-temperature specifications for diesel fuels, which in turn will possibly contribute significant growth to the cold flow improvers market.
Between 2016 and 2017, the total automotive production has increased from 95.6 million units to 96.2 million units, indicating a year on year growth in the demand for automobiles in the global market. This is one of the important factors fueling the growth of cold flow improvers market.
With rising demand for automobiles on the coattails of growing disposable income, several global investors are heavily investing in automotive industry, which in turn is likely to augment the growth of global cold flow improvers market. Further, continued focus of automobile manufacturers on improving the production output to cater the global demand is anticipated to complement the expansion of cold flow improvers market in the near future.
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Get a Customized VersionGrowing concerns regarding environmental issues and carbon footprint has been prompting lubricant manufacturers to focus on the use of bio-based oils or vegetable oils as raw materials. This has resulted in reduced performance penalty at an affordable cost, which influenced the manufactures to boost their production to meet the ever-rising consumer demand.
Increasing adoption of bio-based lubricants is expected to translate into robust growth of cold flow improvers market. They have further lowered the dependence on petroleum-based raw materials which is likely to create potential growth opportunities for key manufacturers of cold flow improvers.
Cold flow improvers are required to be customized with respect to the base oil. Similar nature of application may also need different types of cold flow improvers in accordance with the product specification. In addition, disruption in oil supply has been influencing oil makers to find alternatives for base oils which require different cold flow improvers.
This factor is considered to be one of the recent trends in the global cold flow improvers market.
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BASF SE, Ecolab, Chevron Corporation, Bell Performance, Inc., Baker Hughes Inc., Evonik Industries AG., Infineum International Limited, The Lubrizol Corporation, Afton Chemical, AkzoNobel N.V., Clariant AG, ADCO Global Inc., AICELLO CHEMICAL CO. LTD, ACE Geosynthetics Enterprise Co., Ltd., International Fuel Technology, Inc., Chemtura Corporation, and Cerion Energy Inc. are among the leading players operating in the global cold flow improvers market.
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