The global cold flow improvers market is forecast to reach USD 988.8 Million by 2026, according to a new report by Reports and Data. A cold flow improver is a treatment used to prevent fuel from the conversion of liquid fuel into crystallization or semi-liquid substance when temperature decreases. Cold flow improvers have essential properties as wax modifiers, anti-settling agents, and wax dispersant. Instead of other fuel additives, cold flow improver is used to reduce downtime, avoid gelling of diesel fuel, filter-plugging point, improve low-temperature start ability, inhibit fuel-filter icing, enhance engine reliability in cold temperatures, and prevent wax settling during storage.
The market for cold flow improvers is influenced by the rising demand for biodiesel for vehicle and refinery applications and demand for environment-friendly products. Moreover, the demand for cold flow improvers is driven by the growth in various industries such as aerospace defense, automotive, and others.
Top Companies Operating in the Global Cold Flow Improvers Market:
Lubrizol Corporation, Chevron Oronite, Clariant AG, Afton Chemicals, BASF SE, Innospec, Evonik Industries AG, Infineum International Limited, Baker Hughes, and Ecolab.
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Further key findings from the report suggest
- The poly (alkyl methacrylate) segment is forecasted to grow with the highest CAGR of 6.4% during the forecast period. It 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 crystals in heavy light vehicle engines.
- Diesel fuel segment held a market share of 44.3% in the year 2018. Diesel has excellent energy efficiency, density, and is safer than other combustible fuels, so it provides more useful energy per unit of volume. Cold flow improver is used in diesel to maintain the performance of diesel, so diesel plays a vital role in the growing market for cold flow improvers.
- Automotive held the largest market share of 51.4% in the year 2018. This is due to the growing demand for finished fuel and tighter environmental regulations.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 6.1% during the forecast period. Increasing economic growth, mass urbanization, and rapid industrialization in the region are propelling market growth.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Cold Flow Improvers Market Segmentation
By Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Polyacrylates
- Poly(alkyl Methacrylate)
- Ethylene Vinyl Acetate
- Polyalphaolefin
- Fluorocarbon Vinyl Acetate
By Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Diesel Fuel
- Lubricating Oil
- Aviation Fuel
- Others
By End-Use Industries Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Automotive
- Aerospace Defense
- Others
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