Cold Flow Improvers Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Cold Flow Improvers Market was worth US$ 817.2 Mn and is expected to grow at a CAGR of 6.3% over the forecast period. The market is expected to hit US$ 1,505.4 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.5%, the market underwent significant growth.
Cold flow improvers are polymers or co-polymers additives that avoid forming crystals in fuel or lubricating oil. These can clog the feed lines and filters at low temperatures and cause engine shutdown. They are generally used in power and lubricating oil. Cold Flow Improver reduces the viscosity of a fluid, allowing for higher flow, less energy consumption, more efficient heat transfer, and lower operating temperatures.
THE GROWTH IN THE AUTOMOBILE INDUSTRY AUGMENT THE DEMAND FOR COLD FLOW IMPROVERS
Automotive sales have been gaining traction post the global slowdown. The demand for automobiles in the market is largely driven by industrialization, urbanization, and global economic growth. This has been accelerating the demand for cold flow improvers for application in lubricant additives to enhance the ability of the lubricant to withstand low temperatures in European and American countries. The need for cold flow improvers is driven by increasing disposable income among the masses. This has positively influenced the sales of lubricant additives and, consequently, that of cold flow improvers.
THE RISE OF ELECTRICAL VEHICLES WILL HAMPER MARKET GROWTH
Increasing demand for electric vehicles as alternative fuel vehicles is expected to act as confinement for the expansion of the cold flow improvers market. Rising demand for carbon emissions reduction and production of more sophisticated and faster-charging stations are expected to fuel the growth of electric vehicles, affecting the use of fuel vehicles, affecting the demand for cold flow improvers. Hence rising demand for electric cars will further create hurdles for the growth of the mean flow improvers market forecast period.
THE DISCOVERY OF BIO-BASED LUBRICANTS WILL BOOST THE MARKET GROWTH
The bio-Based Lubricants Market is expected to experience robust growth due to the increasing number of consumers looking for green alternatives to petroleum-based lubricants. Increasing concerns regarding environmental issues and carbon footprint has been encouraging lubricant manufacturers to concentrate on the use of vegetable oils or bio-based oils as raw materials. This has reduced performance penalties at an affordable cost, influencing the manufacturers to boost their production to meet the ever-rising user demand. It will probably produce possible growth opportunities for cold flow improvers.
Market Segments Covered in Report
By Product Type
By End Use
By Region and Country:
Why are Polyalkyl methacrylate segment projected to have the highest market?
A cold flow improver is an additive added to fuels such as diesel fuel, heavy oil, and lubricating oils to prevent wax deposition in the finished products. The Polyalkyl methacrylate segment held the largest share in the cold flow improvers market in 2021. Polyalkyl methacrylate is commonly used in the dead fuel and lubricating oil industries. It has wax deposition inhibition properties at low temperatures, reducing wax crystal formation and deposition in heavy and light vehicle engines. Since polyalkyl methacrylate has been adaptable, it can be blended with diesel and aviation fuel.
Why is the Diesel fuel segment expected to expand the fastest during the forecast period?
The market for cold flow improvers is expected to grow significantly in the coming years. The rising demand for these products is due to a rise in diesel sales and various countries adopting biofuel mandates to reduce petroleum consumption. In addition, there are other factors, such as an increase in transportation requirements, the rapid pace of newer vehicles being purchased, and increasing dependence on petroleum products during a time when more alternative sources for fuel like ethanol and biodiesel are available, driving demand for cold flow improvers.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Manufacturers have been strengthening their distributor and retailer networks to overcome the challenges and challenges of the cold flow improvers market. This is expected to impact the market in the coming future positively.
A list of some of the key suppliers present in the market are:
Global Cold Flow Improvers Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.3%.
Due to urbanization, there is a demand for cold flow improvers to improve the lubricant’s performance in cars.
Major global Cold Flow Improvers Market players are BASF SE, Clariant AG, Evonik Industries AG., AkzoNobel N.V., Baker Hughes Inc., Afton Chemical, Bell Performance, Inc., The Lubrizol Corporation, Chevron Corporation, Infineum International Limited, and Ecolab.
Growing demand for electric vehicles as alternative fuel vehicles will act as a restraint for the growth of the cold flow improvers market.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Cold Flow Improvers market.
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