Rising usage of the diesel engine for maximum efficiency of the engine with less consumption of fuel and stringent environmental regulations are propelling the market growth.
Market Size – USD 635.0 Million in 2018, Market Growth - CAGR of 5.7%, Market Trends – Growth in the automotive industry.
The global cold flow improvers market is forecast to reach USD 988.8 Million by 2026, according to a new report by Reports and Data. A cold flow improver is a treatment used to prevent fuel from the conversion of liquid fuel into crystallization or semi-liquid substance when temperature decreases. Cold flow improvers have essential properties as wax modifiers, anti-settling agents, and wax dispersant. Instead of other fuel additives, cold flow improver is used to reduce downtime, avoid gelling of diesel fuel, filter-plugging point, improve low-temperature start ability, inhibit fuel-filter icing, enhance engine reliability in cold temperatures, and prevent wax settling during storage.
The market for cold flow improvers is influenced by the rising demand for biodiesel for vehicle and refinery applications and demand for environment-friendly products. Moreover, the demand for cold flow improvers is driven by the growth in various industries such as aerospace & defense, automotive, and others.
The above-mentioned factors collectively create opportunities for the market growth while factors such as an increase in demand for electric vehicles and governments promoting adoption of electric vehicle pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period.
The Asia Pacific region is the largest user of cold flow improvers across the globe. Faster economic growth and increasing finished fuel refining capacity are majorly driving the demand for cold flow improvers in the region.
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Further key findings from the report suggest
- The poly (alkyl methacrylate) segment is forecasted to grow with the highest CAGR of 6.4% during the forecast period. It is widely used in the finished fuel and lubricating oil industry as they offer properties such as wax deposition inhibition at low temperature, which inhibits the formation and deposition of wax crystals in heavy & light vehicle engines.
- Diesel fuel segment held a market share of 44.3% in the year 2018. Diesel has excellent energy efficiency, density, and is safer than other combustible fuels, so it provides more useful energy per unit of volume. Cold flow improver is used in diesel to maintain the performance of diesel, so diesel plays a vital role in the growing market for cold flow improvers.
- Automotive held the largest market share of 51.4% in the year 2018. This is due to the growing demand for finished fuel and tighter environmental regulations.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 6.1% during the forecast period. Increasing economic growth, mass urbanization, and rapid industrialization in the region are propelling market growth.
- Key participants Lubrizol Corporation, Chevron Oronite, Clariant AG, Afton Chemicals, BASF SE, Innospec, Evonik Industries AG, Infineum International Limited, Baker Hughes, and Ecolab, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cold-flow-improvers-market
For the purpose of this report, Reports and Data have segmented into the global Cold Flow Improvers market on the basis of type, application, end-use industry, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Poly(alkyl Methacrylate)
- Ethylene Vinyl Acetate
- Fluorocarbon Vinyl Acetate
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Diesel Fuel
- Lubricating Oil
- Aviation Fuel
End-Use Industries Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Aerospace & Defense
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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