Pour Point Depressants Market transforming the global lubricant industry to witness a CAGR of 3.9% during 2019-2025
NEW YORK, May 13, 2019 (GLOBE NEWSWIRE) -- The global pour point depressants market is likely to expand from USD 1,635.7 million in 2018 to USD 2,144.9 million by 2025, witnessing a CAGR of 3.9% over the forecast period. The growth can be primarily attributed to the growing demand for pour point depressants from emerging economies coupled with the considerable growth in the automotive industry. Moreover, increasing prevalence of dual-clutch technology that offers improved fuel efficiency is further expected to propel the market demand over the forecast period.
Key players are focusing on high-end research and technological advancements in order to develop newer processes that utilize pour point depressants for manufacturing various products. High quality pour point depressants have the ability to lower the pour point by as much as 40°C; therefore, they are preferred in applications which require oil, usually below 0°C. These depressants are mostly used in lubricants, such as engine oil, automatic and power transmission fluids, tractor fluids, hydraulic fluids, and automotive gear oils.
Key findings from the report:
The global pour point depressants market is likely to reach USD 2,144.9 million by 2025
Poly alkyl methacrystals segment held the major share of the market in 2018, and the trend is likely to continue over the next seven years
Automotive segment accounted for the major share of the market in 2018, and is likely to witness a healthy CAGR during 2019-2025
Asia-Pacific dominated the global market in 2018, and is expected to witness the fastest CAGR over the forecast period
Some of the key companies operating in the industry include Chevron Corporation; Afton Chemical Corporation; Croda International Plc.; Akzo Nobel; INNOSPEC INC; BASF SE; Clariant AG; Evonik Industries.; The Lubrizol Corporation; Sanyo Chemical Industries, Ltd.; Messina Incorporated; Dow Chemicals; Royal Dutch Shell plc.; and Huntsman Corporation.; among others
Automotive Segment Driving the Demand for the Global Market
Pour point depressants find application across various industries, such as automotive, marine, oil & gas, and aviation. The automotive segment accounted for the largest share of the global market in 2018, and the trend is expected to continue over the coming years. The growing demand for pour point depressants in the lubricant industry owing to various technological advancements has fostered the market demand. These depressants are used in order to maintain the proper flow of lubricants and prevent the formation of wax, which can hinder the performance of the automobile.
Asia-Pacific dominated the global market for pour point depressants in 2018, and is projected to maintain its dominance over the next seven years. The aforementioned growth can be primarily attributed to rapid industrialization along with high growth in the automotive industries of China, India, and Japan. Also, enforcement of stringent laws for pollution control, have compelled the automobile manufacturers to develop technologies such as DCT, to reduce the carbon emissions.
The report segments pour point depressants market on the basis of chemistry, method, end-use, and region.
By Chemistry
Ethylene co-vinyl-acetate (EVA)
Styrene esters
Poly alkyl methacrylates (PAMA)
Phthalic acid esters
Poly alpha olefin
Others
By Method
Surface adsorption
Co-crystallization
By Application
Lubricant Industry
Industrial
Automotive
Marine
Aviation
Oil & Gas Industry
Exploration
Production
Refining
By Region
North America
Europe
Asia-Pacific
Central & South America (CSA)
Middle East & Africa (MEA)
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