The global Cold Flow Improvers Market is estimated to be USD 605 million in 2018 to USD 806 million by 2023,
at a CAGR of 5.9% during the forecast period. The cold flow improvers market is
segmented on the basis of end-use industry as automotive, aerospace &
defence, and others.
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Stricter fuel specification and
growth in the automotive sector play a key role in driving the demand for
high-performance fuel, which in turn, boosted the demand for cold flow
improvers. The cold flow improvers market is segmented on the basis of
application as diesel fuel, aviation fuel, lubricating oil, and others. The
global cold flow market is mainly driven by the high demand from automotive
& transportation and industrial sectors in China and India, among others.
The ethylene vinyl acetate segment is
projected to account for the largest share during the forecast period.
The ethylene vinyl acetate segment is projected to account for the highest share of the overall cold flow improvers market during the forecast period. Ethylene vinyl acetate is widely used in the oil industry as they offer properties such as wax deposition inhibition at low temperature which inhibits the formation and deposition of wax crystal in heavy & light vehicles engines.
Diesel fuel is estimated to be the
largest application of cold flow improvers in 2018.
On the basis of application, diesel
fuel is projected to be the largest as well as fastest-growing application
during the forecast period. This is due to the increasing demand for
high-performance fuel from the automotive industry and the adoption of biofuel
mandates by various countries to reduce the consumption of petroleum products.
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The automotive end-use industry is projected to
account for the largest share of the market.
Based on end-use, the automotive
end-use industry led the demand for cold flow improvers, accounting for the
largest share of the overall market. The segment is also projected to be the
fastest-growing end-use industry of cold flow improver during the forecast
period due to increasing demand for cold flow improvers as fuel additive and
stricter fuel specification.
Lubrizol Corporation (US), Chevron Oronite (US), Clariant AG
(Switzerland), Afton Chemicals (US), BASF SE (Germany), Innospec (US), Evonik
Industries AG (Germany), Infineum International Limited (UK), and Baker Hughes
(US) are the leading cold flow improvers manufacturers, globally. These companies adopted expansion and partnership as their major
business strategy between January 2015 and August 2018 to stay competitive in
the cold flow improvers market.
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