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The global pour point depressant market is expected to grow at a CAGR of 3.93% during 2022-2027. Speak directly to the analyst to clarify any post sales queries you may have.
MARKET INSIGHTS
Globally, the demand and adoption of high-performance pour point depressant market is high due to the increased production landscape of crude oil and the enormous demand for lubricants from the marine industry, construction equipment, heavy machinery, agriculture vehicle, and OEMs.Pour point depressant additives are vital components in formulating finished lubricant products and base oil. Pour point depressant additives play a vital role in enhancing the overall functioning of base oil by preventing the formation of wax crystals at low temperatures that may impede the lubrication of industrial equipment and oil flow during the transportation of crude oil.
The established markets of Europe and North America are expected to witness significant demand for high-performance pour point depressant products during the forecast period due to the high production unit of crude oil and the increasing use of premium base oil (group II, III, & synthetic base oil) that absolutely align with the low demand for low viscosity lubricant formulation. Thus, this offers vendors many opportunities in the pour point depressant market during the forecast period.
KEY TRENDS & DRIVERS
Escalating Demand from Increasing Production of Crude Oil
- With the increasing production and demand for crude oil globally, the pour point depressant market has witnessed significant growth over the past years. The U.S., Saudi Arabia, Russia, Canada, and China are the top producing nation for crude oil due to the decline in production cost. Government support has helped players set up their countries' crude oil-producing plants. In crude oil, pour point depressants are injected into waxy crude oil for smooth oil flow during processing, storage, and transportation in cold-weather environments
Increasing Demand for Lubricants Based on Premium Base Oil
- The increasing trend for low carbon footprint, better fuel economy, drain intervals, and engine oil durability drives the demand for the global pour point depressant market’s products in the premium base oil. This is primarily because adding a low viscosity additive to premium base oil enhances the overall functioning of lubricants and enables the OEMs. Other industries, such as marine, achieve sustainability by emitting low carbon emissions
MARKET RESTRAINTS
Volatility in Crude Oil Prices
- The major challenge faced in the pour point depressant market is the volatility in crude oil prices. Crude oil is the prime raw material to produce pour point depressants and uses polymethacrylate, vinyl acetate, styrene-maleic anhydride, and polyoxyethylene lauryl ether phosphate, among others. Increasing or changing crude oil prices directly impact the price of pour point depressant chemical additive. Thus, fluctuating crude oil price poses a major threat to vendor profit margins
SEGMENTATION ANALYSIS
INSIGHTS BY CHEMISTRY
- The polymethyacrylate segment is expected to be the largest in the global pour point depressant market and accounts for a revenue share of 46.22% of the global industry. Based on chemistry, the global pour point depressant market is divided into six segments: polymethyacrylate, poly alkyl methacryalte, styrene-maleic anhydride, polyoxyethylene lauryl ether phosphate, ethylene vinyl acetate, and others. Polymethyacrylate holds the highest share in the pour point depressant market, primarily due to its extensive use in crude oil facilities and lubricating oil such as engine oil, hydraulic fluid, and driveline fluid that enhances the viscosity index and offers more shear stability
- Styrene-maleic anhydride emerged as the third-largest segment in the global pour point depressant market and is expected to reach USD 283 million by 2027. The prime characteristics of styrene-maleic anhydride are its high gloss, high heat & chemical resistance, high viscosity, and high dimensional stability. SMA is available at a high molecular weight and is widely used across cooking utensils, business machine housings, electronic appliances, and the interior part of the car (such as ventilation ducts and lenses)
INSIGHTS BY END-USE
- Based on end-use, the global pour point depressant market is divided into four segments: oil & gas, automotive, heavy industrial, and power generation. The oil & gas segment holds the highest share in the pour point depressant market and accounts for 43.54% of the global share; however, the automotive segment is expected to lead the industry during the forecast period. This is primarily due to the increasing production of commercial vehicles, passenger vehicle, and two-wheelers worldwide that operates in low-temperature environments and to ensure smooth flow of oil in automotive engine, suspension & steering joints, brake system, and other components, pour point depressant are added in automotive lubricants
- The high use of oil for power generation and the high demand for petrochemical that are used in the production of almost all goods ranging from fertilizers to packaging, clothing, medical equipment, tires, digital devices, and others are the prime factors driving the high demand for crude oil production. Globally, the U.S. is one of the biggest oil-consuming countries. In 2021, on average, the country consumed 19.78 million barrels of petroleum per day, an increase in consumption of over 1.6 million barrels per day compared to 2020, as per the data by EIA
GEOGRAPHICAL ANALYSIS
- APAC dominates the global pour point depressant market as this region's automotive, transportation, power generation and heavy industrial sectors are increasing significantly because of continuous industrialization and infrastructure development. Further, the Asia Pacific holds 38.00% of the global industry share and is expected to grow with a CAGR of 4.25%
- North America is the second-largest pour point depressant market and estimates to grow with a CAGR of 3.98% during the forecast period
COMPETITIVE LANDSCAPE
The global pour point depressant market is moderately fragmented, and the degree of fragmentation is expected to accelerate slowly during the forecast period. Many international and domestic vendors across the geographies compete in terms of brand, price, geographical presence, and technical innovation. For instance, in 2019, Clariant Oil & Services launched “WAXTREAT” Subzero pour point depressants technology for cold weather conditions.The high entry barriers characterize the market as new entrants require technical skills to produce pour point depressant chemical additives products. Additionally, the pour point depressant market players are working in close liaison with industry experts to understand the current demand of the consumers. So, they can accordingly formulate the product to meet the new engine oil specification and multiple types of gas in the power generation sector. Thus, due to these factors, it offers opportunities for players to enter the industry. Still, at the same time high cost of setting up the production unit and stringent testing facilities across Europe, and North America, new players hesitate to enter the industry.
Key Vendors
- BASF
- Evonik
- Clariant
- The Lubrizol Corporation
Other Prominent Vendors
- Afton Chemical
- Callington Haven
- Ganesh Benzoplast
- Goodway Chemicals Private Limited
- Infenium International Limited
- Innospec
- Jinzhou Kangtai Lubricant Additives
- Kemipex
- Octane Incorporated FZC
- RX Marine International
- Shaoxing Shangyu Simo Research Institute Of Organic Chemistry
- Zhengzhou Chorus Lubricant Additive Co., Ltd
- A S Harrison & Co Pty Limited
- Dana Lubricants Factory LLC
KEY QUESTIONS ANSWERED
1. What is the revenue from the global pour point depressant market?2. What is the projected market size of the global pour point depressant market by 2027?
3. What is the growth rate of the pour point depressant market?
4. Which region dominates the global pour point depressant market?
5. What are the key driving factors in the pour point depressant market?
6. Who are the key players in the global pour point depressant market?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process7 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Premium Insights
8 Introduction
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Chemistry
14 End-Use
15 Geography
16 North America
17 Latin America
18 Apac
19 Middle East & Africa
20 Europe
21 Competitive Landscape
22 Key Company Profiles
23 Other Prominent Vendors
24 Report Summary
25 Quantitative Summary
26 Geography
27 Appendix
List of Exhibits
List of Tables
Companies Mentioned
- BASF
- Evonik
- Clariant
- The Lubrizol Corporation
- Afton Chemical
- Callington Haven
- Ganesh Benzoplast
- Goodway Chemicals Private Limited
- Infenium International Limited
- Innospec
- Jinzhou Kangtai Lubricant Additives
- Kemipex
- Octane Incorporated FZC
- RX Marine International
- Shaoxing Shangyu Simo Research Institute Of Organic Chemistry
- Zhengzhou Chorus Lubricant Additive Co., Ltd
- A S Harrison & Co Pty Limited
- Dana Lubricants Factory LLC
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 281 |
| Published | November 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 1610 Million |
| Forecasted Market Value ( USD | $ 2029.2 Million |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
