Dublin, April 10, 2019 (GLOBE NEWSWIRE) -- 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. These are used to lowers fuel's pour point (gel point), cloud point, and cold filter plugging point (CFPP), simultaneously, to improve its cold flow properties. They prevent the formation of large wax crystal network in the base oil which may inhibit the lubricant flow at cold temperature. In 2017, APAC accounted for the largest share of 46.0%, in terms of value, of the global cold flow improvers market.
The large market size of the region is attributed to the expansions in the petroleum refining capacity and high demand from automotive & transportation and industrial sectors in China and India, among others. Increasing demand from emerging economies, stricter fuel specification, and growing demand for high-performance fuel oil are creating growth opportunities for the market players. However, increasing demand for alternative fuel vehicles such as electric vehicles and CNG vehicles act as a restraint to the growth of the cold flow improvers market.
The cold flow improvers market is segmented on the basis of type as ethylene vinyl acetate, polyalpha olefin, polyalkyl methacrylate, and others. The ethylene vinyl acetate segment led the overall cold flow improvers market, accounting for a share of 40.0% of the overall market, in terms of value, in 2017. The demand for the ethylene vinyl acetate based cold flow improver is driven by the large usage in applications such as diesel and aviation fuel due to its low cost and deposition inhibitor properties.
The global market for cold flow improvers has been dominated by players such as Lubrizol Corporation (US), Chevron Oronite (US), Clariant AG (Switzerland), Afton Chemicals (US), BASF SE (Germany), Innospec (US), Evonik Industries AG (Germany), Infineum International Limited (UK), Bakes Hughes (US), and others.
These players adopt various developmental strategies such as expansion and partnership to expand their market share.
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
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