Global Cold Flow Improvers Market is Estimated to be Worth USD 980.8 million in 2018 and is Projected to Reach USD 1.5 billion by 2026, at A CAGR of 5.9% From 2018 to 2026: Proficient Market
According to a new report published by Proficient Market, titled, “Global Cold Flow Improvers Market – Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2014 – 2026″ The report has offered an all-inclusive analysis of the global cold flow improvers market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
According to the report, global cold flow improvers market in 2018 stood at USD 980.8 million and is expected to reach USD 1.5 billion by 2026 growing at a CAGR of 5.9% from 2019 to 2027.
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A cold flow improver is a treatment generally used to prevent fuel from the conversion of liquid fuel into crystallization or semi-liquid substance when temperature decreases. Due to temperature fall in winter, the fuel cools and the fuel containing paraffin wax get out of suspension clogging the fuel filter, that leads to the engine shut down. AS cold flow improvers have important properties such as wax modifiers, anti-settling agents, and wax dispersant. Also, for improving fuel cold flow properties and minimize cold filter plugging point, cloud point and fuel’s pour point cold flow improvers are used in fuel and lubricating oil. Instead of other fuel additives, cold flow improver is used to reduce downtime, enhance engine reliability in cold temperatures, avoid gelling of diesel fuel, filter-plugging point, improve low-temperature start ability, inhibit fuel-filter icing, and prevent wax settling during storage.
Global Cold Flow Improvers Market Key Players: The research study includes profiles of leading companies operating in the global cold flow improvers market. Key players profiled in the report include:
Evonik Industries AG
Baker Hughes Incorporated
Bell Performance Inc.
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Drivers for the Global Cold Flow Improvers Market: According to current market condition, factors that drive the growth of the global cold flow improver market are increase in demand for biodiesel for vehicle and refinery applications and demand for environmentally-friendly products. Moreover, the demand for cold flow improvers is driven by the growth in various industries such as aerospace & defense, automotive, and others. Increase in awareness about environment-related issues and exhaustion of fossil fuel resources among the population result in investigation of more sustainable and viable fuel resources. Diesel plays a vital role in meeting the growing power demand. Additionally, effect of climatic conditions also is one of the key factors fueling growth in the global cold flow improvers market in certain regions.
Opportunities for the Global Cold Flow Improvers Market: Rising demand for diesel due to rapid economic growth in certain countries has resulted in a growing requirement for transportation and electricity. Diesel offers better efficiency, improved performance, and is safer than other combustible fuels. It also has a greater energy density than other liquid fuels. With such a surging demand the rate at which the vehicles are being purchased is rising dramatically. This in turn is propelling the demand for improver fluids, consequently, creating opportunity in the global cold flow improvers market. Also, due to the growth in automotive, mining and oil exploration initiatives, the global cold flow improver market is expected to witness a skyrocketing growth in near future.
Restrains for the Global Cold Flow Improvers Market: Increase in demand for electric vehicles and governments promoting adoption of electric vehicle is a key factor restraining the cold flow improvers market growth. Moreover, huge investment on research and development activities to introduce advanced and environment-friendly cold flow improvers and increasing uptake of alternative products in the market is anticipated to hamper the expansion of the global cold flow improvers market growth to a certain extent, over the forecast period.
Region Wise, Global Cold Flow Improvers Market Analysis: On the basis of region, global cold flow improvers market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all Asia Pacific lead the global cold flow improvers market due to faster economic growth and increasing finished fuel refining capacity are majorly driving the demand for cold flow improvers in the region. Asia pacific region is followed by North America and Europe.
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Global Cold Flow Improvers Market: Product analysis
Ethylene Vinyl Acetate
Others (styrene esters, oligomerized alkyl phenols, phthalic acid esters & copolymers, and fluorocarbon vinyl acetate)
The polyalkyl methacrylate segment of the market is projected to witness the highest CAGR during the forecast period. Polyalkyl methacrylate 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 crystal in heavy & light vehicles engines. They are also flexible and can be blended with fuel such as diesel and aviation fuel.
Global Cold Flow Improvers Market: Application analysis
Others (marine fuel, heating oil & power generation)
The diesel fuel application segment is projected to lead the overall cold flow improvers market during the forecast period. The large market size in this segment is mainly attributed to stricter biofuel mandates and the high demand in various end-use industries such as automotive.
Global Cold Flow Improvers Market: End-Use Industry analysis
Aerospace & Defense
Others (industrial, marine, and domestic use)
The automotive segment is projected to be the largest as well as the fastest-growing end-use industry of cold flow improver during the forecast period. This is due to the increasing demand for finished fuel and tighter environmental regulations.
Global Cold Flow Improvers Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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