PUBLISHER: DataM Intelligence | PRODUCT CODE: 1217621
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1217621
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The global cold flow improvers market was worth US$ XX million in 2022 and is estimated to reach US$ XX million by 2029 and grow at a CAGR of XX% over the forecast period (2023-2030).
Global cold flow improvers are typically derived from paraffinic minerals-based sources. The cold-flow improvers are a product of a cold-flow improver that may improve serviceability by modifying the size or structure of the wax crystals that precipitate out the fuel at low temperatures. Mainly cold flow improvers are used on conventional fuels to avoid the gelling problem in low temperatures.
The lower the temperature, the more crystalline the fuel gets. Paraffinic base products have been developed to avoid these issues. The addition of wax or paraffinic compound as a dispersant helps move the flow of fuels. Therefore, the cold flow improvers are used to boost the performance of the fuels at the bottommost temperature. Cold flow improvers are in demand in the automotive, marine, aviation and aerospace sectors.
The increasing adoption of bio-based lubricants is expected to translate into robust growth of the cold flow improvers market. The dependence on petroleum-based raw materials will likely create potential growth opportunities for key manufacturers of cold flow improvers. However, limited production of natural curd oil may restrain the cold flow improvers market.
Problems related to wax deposition in light and heavy vehicle engines are generating the demand for cold flow improver solutions in the global market.
The preferred method for preventing diesel fuel from gelling is cold flow improvers, also known as anti-gels. Future demand for automobiles will necessitate the use of cold flow improvers. Wax deposition causes issues for both heavy and light vehicle engines. To solve this issue, they require cold flow improvers made with ethylene-vinyl acetates, one of the main chemistries employed in cold flow improvers. Therefore, the growing demand for cold flow solutions from the automotive industry sustains the market growth over the forecasted period.
Limited production of natural curd oil may restrain the cold flow improvers market.
Cold flow improvers are additives employed to improve the low-temperature performance of diesel and other fuels. One of the key components of cold flow improvers is natural curd oil derived from vegetable oil. Natural curd oil is a specialized product produced by a complex process involving the extraction and refining of vegetable oil. Due to this complexity, the production of natural curd oil is limited and can be expensive. As a result, the availability of natural curd oil is limited, which can reduce the sale of cold flow improvers on the market. The rise of biofuels has also led to an increase in competition for the limited supply of natural curd oil, which can further limit the availability of natural curd oil for producing cold flow improvers. Thus, the demand for alternative fuels is also predicted to restrain the cold flow improver's market growth over the projected period.
COVID-19 impact analysis
The global cold flow improvers market was deeply impacted due to the COVID-19 pandemic. Many industries, such as automotive, aerospace and defense companies, are cutting down their production. The government makes a restriction to control the pandemic. Furthermore, many consumers cut back on spending on automotive during the pandemic, opting for cheaper conventional alternatives to more expensive products. It led to a major decrease in demand from various end-use applications. The massive decrease in demand also affected various cold flow improver manufacturers. It is an advanced industry that constantly needs to innovate and develop new molecules and product sources to drive growth.
Even as the world slowly enters normalization in the post-pandemic period, the market still faces significant challenges from the aftereffects of the pandemic. Natural curled oil is manufactured from natural sources. A lingering labor shortage caused by movement restrictions imposed during the pandemic has hampered the harvest of wax sources. The global supply chain problems are expected to exacerbate this problem further. Global production of clod flow improvers is expected to recover from the pandemic's effects fully.
The pandemic will not mar the long-term growth prospects of the global cold flow improvers market since rising health consciousness and growing preference for innovation will likely increase substantially. Therefore, the demand for cold flow improvers remains strong and is expected to grow gradually in the forecast period.
The global cold flow improvers market is segmented into type, application, end-user and region.
The growing popularity of bio-based lubricants creates substantial demand for lubricant oil.
The market for cold flow improvers is predicted to grow rapidly as bio-based lubricants become more widely used. They have reduced reliance on petroleum-based raw materials even more, which may present opportunities for growth for important cold flow improver manufacturers over the coming years. Furthermore, despite diesel oil being the leading application segment, the lubricating oil application segment offers the highest growth prospect during the forecasted period.
The growing automobile industry in Asia-Pacific generates lucrative growth prospects for the cold flow improvers market
The rising demand for automobiles, which is in line with population growth, changing lifestyles and rising disposable income, is anticipated to be the primary driver of the growing market for cold flow improvers in Asia-Pacific. The primary forces propelling the growth of the automotive industry are economic expansion, widespread urbanization and rapid industrialization in numerous countries such as China, Japan and India. Increased automotive sales have directly impacted the demand for cold flow improvers, which aid lubricant additives in meeting low-temperature requirements for diesel fuels. This demand may contribute significantly to the market's potential growth in Asia-Pacific.
Manufacturers are making several strategic decisions in the global cold flow improvers market to develop effective technologies and increase production rates to meet market demand. The primary focus areas include collaborations, product launches, and strategic mergers & acquisitions. The major players in the market are Lubrizol Corporation, Chevron Oronite, Clariant AG, BASF, Afton Chemicals, Evonik Industries, Innospec, Infineum International Limited, Baker Hughes and Ecolab.
Overview: Founded in 1995 as a spin-off from Sandoz, Clariant AG is an international specialty chemicals firm with more than 13,500 employees. The company serves a variety of end-use industries, including agriculture, automotive & transportation, aviation, building & construction, chemicals, electronics, coatings, paints & inks, energy, food & beverages, mining, home care & healthcare, and oil & gas, among others. The corporation is specialized in three key business sectors: natural resources, catalysis and care chemicals. The care chemicals sector targets consumers from the home care and personal care end-use sectors. Clariant operates in North America, South America, Europe, MEA and Asia-Pacific regions.
The global cold flow improvers market report would provide approximately 61 market data tables, 60 figures and 190 pages.
Target Audience 2023
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