United States, Rockville MD, June 24, 2022 (GLOBE NEWSWIRE) -- As per industry analysis by Fact.MR - market research and competitive intelligence provider, the global cold flow improvers market is estimated to exceed a valuation of US$ 767.9 Million by 2022, and to expand at a significant CAGR of close to 6.4% by value over the assessment period.
The global cold flow improvers market is gaining pace due to its ability to prevent diesel fuel from crystalizing even at its cloud point. It also has the capacity to increase fuel operability by changing the form and size of wax crystals that precipitate out of the fuel at low temperatures. These properties of cold flow improvers are escalating their demand in the market.
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The cold flow improvers market is dominated by North America and European regions because of its lower than the average cold temperature all-round the year. In addition, the rising environmental awareness is increasing adoption of biofuels and diesel which will underpin the growth of cold flow improvers market. The global cold flow improvers market is expected to reach US$ 1,417 Million by 2032.
In contrast, the diesel-powered cars sale is experiencing a decline against the increasing demand for electric vehicles. The European diesel cars marked 34% of market share of the overall vehicle market in 2019. This fraction is further dropping which might offer challenges in growth of cold flow improvers market.
Why is the World Witnessing Increased Consumption of Cold Flow Improvers?
“Surging Demand for Cold Flow Improvers from Automotive Industry”
Despite the world economy coming to standstill in the last couple of years, the automotive industry has gained traction. Market demand for vehicles is mostly driven by global urbanization, industrialization, and economic expansion. This, in turn, has increased demand for cold flow improvers for use in lubricant additives to improve the capacity of lubricants to combat low temperatures.
Additionally, investments in the automobile industry have been driven by growing demand for personal vehicles as a result of rising disposable income. Also, automobile manufacturers are continuously focusing on improving production capacity to accommodate rising global demand. These factors are expected to proliferate demand growth of cold flow improvers.
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Key Segments Covered in the Cold Flow Improvers Industry Survey
- Cold Flow Improvers Market by Product Type :
- Ethylene Vinyl Acetate Cold Flow Improvers
- Polyalkyl Methacrylate Cold Flow Improvers
- Polyalpha Olefin Cold Flow Improvers
- Other Types of Cold Flow Improvers
- Ethylene Vinyl Acetate Cold Flow Improvers
- Cold Flow Improvers Market by Application :
- Diesel Fuel
- Lubricating Oil
- Aviation Fuel
- Other Applications
- Diesel Fuel
- Cold Flow Improvers Market by End Use :
- Automotive
- Aerospace & Defence
- Other End Uses
- Automotive
- Cold Flow Improvers Market by Region :
- North America Cold Flow Improvers Market
- Latin America Cold Flow Improvers Market
- Europe Cold Flow Improvers Market
- East Asia Cold Flow Improvers Market
- South Asia and ASEAN Cold Flow Improvers Market
- Oceania Cold Flow Improvers Market
- MEA Cold Flow Improvers Market
- North America Cold Flow Improvers Market
Winning Strategy
North America and Europe are likely to be the most prominent regions from the demand side owing to cold weather. Also, the greater acceptance of biofuels/diesel fuel across the globe is likely to open new doors for manufacturers during the assessment period. In addition to this, manufacturers have several opportunities to follow inorganic growth strategies such as a merger, partnerships and collaboration to expand in the North American region. The adoption of inorganic growth strategies will lead to establishing a strong consumer base which is poised to help for cash flow generation activities in near future.
Competitive Landscape
Key manufacturers of cold flow improvers are BASF SE, Clariant AG, Evonik Industries AG., Chevron Oronite, AkzoNobel N.V., Baker Hughes Inc., Afton Chemical, Infineum International Limited, AICELLO CHEMICAL CO. LTD, and Bell Performance, Inc.
Leading manufacturers of cold flow improvers have been putting efforts towards expanding their manufacturing facilities across the globe and strengthening their retailer and distribution networks, while also focusing on finding various opportunities in emerging economies.
Tier-1 companies are expanding their operational bases, including R&D facilities, manufacturing plants, and distribution & sales channels across regions to capture a significant market share and tackle trade wars, minimize import-export expenses, and acquire cheap labor.
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Key players in the Digital Transaction Management Market
- Clariant AG
- BASF SE
- Evonik Industries AG.
- Chevron Oronite
- AkzoNobel N.V.
- Baker Hughes Inc.
- Afton Chemical
Key Takeaways from Cold Flow Improvers Market Study
- Ethylene vinyl acetate is expected to garner an absolute $ opportunity of nearly US$ 278.1 Mn during the forecast period.
- Lubricating oil segment of cold flow improvers is projected to grow 1.8X during forecast period, while, diesel fuel segment is expected to continue its dominance during the forecast period
- Based on end-use, automotive is projected to dominate cold flow improvers market by accounting for over 56.1% of the market share in 2032.
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