Pour Point Depressant Market

Pour Point Depressant Market Size (2023-2028)

The pour point depressant market is valued at $2.52 and it is expected to reach $3.75 billion by 2028. with a CAGR of 5.10%. Pour point depressors are used to reduce the pouring temperature of petroleum-based mineral oil. These depressants are used in many steam applications containing components such as petroleum-based oils, waxes, middle distillates, and heavy oils. These depressants prevent the formation of wax crystals at lower temperatures.

Pour Point Depressant Market Trends:

The increased consumer awareness of vehicle maintenance coupled with the growing demand for oil additives in end-user industries such as aerospace and automotive is expected to lead to an increase in the product. In addition, the increasing demand for high-quality fuels and lubricants and large-scale industrialization is expected to accelerate the market demand for pour point depressors. In addition, the low cost of manufacturing the product will further stimulate the growth of the market. Pour point depressants exhibit properties of resistance to high temperatures and control of wax buildup in lubricants at lower temperatures. The ability of a lubricant to flow under low-temperature conditions is critical for optimum engine and equipment performance. Hence, the product has significant demand and increasing opportunities from end-user industries such as oil and gas, aviation, and automotive, promoting the growth of the market. Global car sales in 2020 exceeded 91 million vehicles, creating huge growth opportunities for the product. The increased consumer awareness of vehicle maintenance and the increased use of fuel additives in various end-user industries will further drive market growth.

Pour Point Depressant Market Drivers:

The main driving force behind the studied market is the growing demand for high-quality fuels and lubricants, as well as increasing industrialization. The end-user industry is the primary driver for the growth of the pour point depressor market. Point lowers find their applications in various segments such as marine, lubricants, aviation, oil and gas, and more. America dominated the world market for pour point depressants. Industrial development in this region is expected to stimulate demand for pour point depressors. The main players involved in this market mainly focus on R&D initiatives and the development of new products to meet customer needs. In addition, the growth of the petrochemical industry will have a direct impact on the demand for pour point depressors over the foreseeable period. The major factor driving the growth of the global pour point depressor market includes the increasing demand from the automotive industry which uses large amounts of lubricating wax in various components. Furthermore, the popularity of more efficient dual fuel systems is expected to increase to drive the market growth during the forecast period. However, the increasing cost of quality fuels and lubricants in developed countries is limiting the growth of the global market for pour point depressors.

Pour Point Depressant Market Restraints:

Copolymers are widely used as additives in various industries including aviation, industrial and automotive due to their superior stability in extreme weather fluctuations and flexibility to cope with stress to improve performance at low temperatures. Availability of alternative fuels, economic issues, and increasing cost of capital is likely to hamper the growth of the pour point depressor market during the forecast period mentioned above.

Opportunities in the Pour Point Depressant Market:

The refining of used crude or heavy crude is expected to create new growth opportunities for the market. The adoption of dual-clutch technology will generate various opportunities leading to the growth of the pour point depressor market during the aforementioned forecast period. Moreover, the increased use of fuel additives in many end-use industries is expected to provide a lucrative growth opportunity for market growth.

Challenges in the Pour Point Depressant Market:

Burning fuels to generate electricity is responsible for more than 90% of refinery carbon emissions, which may hamper the growth of the pour point depressor market.

POUR POINT DEPRESSANT MARKET REPORT COVERAGE:

Pour Point Depressant market segmentation:

By Chemistry :

• Polyalkylmethacrylates
• styrene esters
• ethylene co-vinyl acetate
• poly alpha olefin
• others

for the lubricants industry and ethylene vinyl acetate (EVA), polyalphaolefin and poly (alkyl methacrylate) for the oil and gas industry.

By End User :

• Lubricant Industry
• Oil & Gas Industry 

The oil & gas industry is leading with the dominant shares of the pour point depressor market. Point lowers find their applications in various segments such as marine, lubricants, aviation, oil and gas, and more. America dominated the world market for pour point depressants. Industrial development in this region is expected to stimulate demand for pour point depressors.

Pour Point Depressant MarketRegional Analysis:

The Pour Point Depressant Market Report includes the segmentation of Regions:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

• Asia-Pacific is the largest and fastest-growing market for pour point depressors, with a significant share of around 33.3% of the global market in 2020.
• North America dominates the pour point lowering market due to the economic development associated with the growth of the automotive industry in the region. The Asia-Pacific region is expected to maintain the highest growth rate due to increased oil exploration and drilling activity coupled with increased use of oil and gas manufacturing equipment.
• The United States, followed by China, is the world's leading country and fastest-growing market in terms of volume. The market is further segmented by Asia Pacific, North America, Europe, and the rest of the world region, which are then segmented by the key countries in each region. Primary sources, which include experts from related industries and suppliers, were interviewed to verify and collect critical information, as well as to assess the future prospects of pour point depressors.
• One of the key factors has been the rapid economic development and the presence of large-scale vehicle manufacturing units and the increase in consumption with increasing income levels of the masses. are also driving market growth, especially in China and other Asian countries. Pour point depressors are custom-made from base oils. Similar applications may require different pour point depressors depending on different product specifications.
• China also has the region's largest auto production industry in the world. The country is expected to experience steady growth due to increasing technological advancements that enable automakers to advance product innovation in pour point lowering products, which is expected to increase the demand for lubricant additives for automobiles. In the region.
• The increase in petroleum extraction and production activities due to the growing demand for crude petroleum derivatives such as gasoline and diesel will drive demand for the product. Pour point depressors are configured for wide use in oil and gas production machinery due to their ability to efficiently pump oil without severely modifying the resulting product, thereby increasing the demand for the product in the production line. region.
• China's demand for pour point styrene esters for petroleum extraction is expected to experience significant gains during the period. Exploration and production activities require technologically advanced drilling equipment to achieve optimum oil recovery. This has prompted major oil and gas companies to incorporate wax inhibitors into various platforms, thereby increasing the growth of the market.

 COVID-19 Impact on Pour Point Depressant Market:

On the other hand, the unfavorable conditions due to the COVID-19 outbreak are hampering the growth of the market. COVID-19 has affected the global economy in three main ways: directly affecting production and demand, creating disruption in the supply chain and market, and through its financial impact on businesses and financial markets. Our analysts who monitor the situation around the world say the market will generate profitable prospects for producers after the COVID-19 crisis.

Pour Point Depressant Market Key Players:

• Evonik Industries (Germany)

• BASF SE(Germany)

• Afton Chemical Corporation(U.S.)

• Clariant Chemicals (Switzerland)

• Croda International (U.K.)
  Chevron orgonite Company LLC (U.S.)

• Croda International PLC(U.K.)

• Messina Chemicals (U.S.)

• Sanyo Chemicals Industries Limited(Japan)

• Lubrizol Corporation(U.S.)

• Infineum International Ltd (U.K.)

• Akzonobel (The Netherlands)

• Innospec Inc.(U.S.)