The global cold flow improvers market is witnessing significant growth, poised to achieve a valuation of US$ 1.1 billion in 2024, representing a substantial CAGR of 7.0% during the forecast period of 2024-2031. These findings, along with key market insights, were revealed in a comprehensive market analysis report.
Between 2016 and 2017, global automotive production surged from 95.6 million units to 96.2 million units, showcasing consistent year-on-year growth in automobile demand globally. This uptick serves as a crucial driver for the expansion of the cold flow improvers market.
The increasing demand for automobiles, buoyed by rising disposable income levels, has attracted substantial investments from global investors into the automotive sector. This influx of investment is poised to further fuel growth in the global cold flow improvers market. Additionally, the persistent focus of automobile manufacturers on enhancing production output to meet global demand is expected to complement the expansion of the cold flow improvers market in the foreseeable future.
The rising acceptance of bio-based lubricants is anticipated to drive substantial growth in the cold flow improvers market. This trend has additionally reduced reliance on petroleum-based resources, presenting promising avenues for key cold flow improver manufacturers.
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Escalating Demand in the Automotive Industry
The expansion of the automotive industry, driven by economic growth, mass urbanization, and rapid industrialization worldwide, stands as a pivotal factor propelling growth. This surge in automotive sales directly impacts the demand for cold flow improvers, essential for ensuring lubricant additives meet low-temperature specifications for diesel fuels. Consequently, this is expected to significantly contribute to the growth of the cold flow improvers market.Between 2016 and 2017, global automotive production surged from 95.6 million units to 96.2 million units, showcasing consistent year-on-year growth in automobile demand globally. This uptick serves as a crucial driver for the expansion of the cold flow improvers market.
The increasing demand for automobiles, buoyed by rising disposable income levels, has attracted substantial investments from global investors into the automotive sector. This influx of investment is poised to further fuel growth in the global cold flow improvers market. Additionally, the persistent focus of automobile manufacturers on enhancing production output to meet global demand is expected to complement the expansion of the cold flow improvers market in the foreseeable future.
Emergence of Bio-based Lubricants
The growing apprehensions surrounding environmental issues and carbon footprint have spurred lubricant manufacturers to prioritize the utilization of bio-based oils or vegetable oils as primary materials. This shift has led to a diminished performance penalty at a reasonable cost, prompting manufacturers to ramp up production to meet escalating consumer demands.The rising acceptance of bio-based lubricants is anticipated to drive substantial growth in the cold flow improvers market. This trend has additionally reduced reliance on petroleum-based resources, presenting promising avenues for key cold flow improver manufacturers.
Diversifying Application of Cold Flow Improvers
Customization of cold flow improvers is necessary based on the characteristics of the base oil used. Even applications with similar requirements may demand different types of cold flow improvers depending on product specifications. Moreover, disruptions in oil supply have prompted oil manufacturers to explore alternative base oils, necessitating the use of different cold flow improvers. This trend is emerging as a recent development in the global cold flow improvers market.Competitive Analysis
Leading players in the global cold flow improvers market include BASF SE, Ecolab, Chevron Corporation, Bell Performance, Inc., Baker Hughes Inc., Evonik Industries AG., Infineum International Limited, The Lubrizol Corporation, Afton Chemical, AkzoNobel N.V., Clariant AG, ADCO Global Inc., AICELLO CHEMICAL CO. LTD, ACE Geosynthetics Enterprise Co., Ltd., International Fuel Technology, Inc., Chemtura Corporation, and Cerion Energy Inc.Global Cold Flow Improvers Market Segmentation
By Product Type
- Polyacrylate
- Ethylene Vinyl Acetate
- Polyalkyl Methacrylates
- Others
By End Use
- Industrial
- Aerospace
- Automotive
By Region
- Europe
- North America
- Latin America
- APAC
- China
- Middle East & Africa
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Table of Contents
1. Executive Summary
2. Market Overview
3. Global Cold Flow Improvers Market Outlook, 2018 - 2031
4. North America Cold Flow Improvers Market Outlook, 2018 - 2031
5. Europe Cold Flow Improvers Market Outlook, 2018 - 2031
6. Asia Pacific Cold Flow Improvers Market Outlook, 2018 - 2031
7. Latin America Cold Flow Improvers Market Outlook, 2018 - 2031
8. Middle East & Africa Cold Flow Improvers Market Outlook, 2018 - 2031
9. Competitive Landscape
10. Appendix
Companies Mentioned
- BASF SE
- Clariant AG
- Evonik Industries AG.
- AkzoNobel N.V.
- Baker Hughes Inc.
- Afton Chemical
- Bell Performance, Inc.
- The Lubrizol Corporation
- Chevron Corporation
- Infineum International Limited
- Ecolab
- ADCO Global Inc.
- AICELLO CHEMICAL CO. LTD
- ACE Geosynthetics Enterprise Co., Ltd.
- International Fuel Technology, Inc.
- Chemtura Corporation
- Cerion Energy Inc.
