(MENAFN- EIN Presswire) Reports And Data
The global cold flow improver market size was USD 2.49 Billion in 2022 and is expected to reach USD 3.9 Billion in 2032
NEW YORK CITY, NEW YORK, USA, May 1, 2023 /einpresswire.com / -- Market Overview:
The global cold flow improver market was valued at USD 2.49 billion in 2022, with an expected revenue CAGR of 5.1% during the forecast period. The growth of the market is attributed to the high demand for low-temperature diesel and biodiesel fuels, as well as the need for fuel additives that improve the cold flow characteristics of transportation fuels.
One of the major driving factors for the growth of the market is the increasing use of low-temperature diesel fuels in colder regions. The conventional diesel fuels tend to gel and clog fuel filters, which leads to engine shutdowns and operational downtime. The use of cold flow improvers in low-temperature diesel fuels helps prevent fuel gelling and enhances the overall fuel flow characteristics, thus increasing the operating effectiveness of diesel engines. Moreover, the revenue growth of the market is driven by the increasing demand for biodiesel fuels, which have a higher cloud point and can gel at lower temperatures.
Another factor driving the revenue growth of the market is the rising demand for effective fuel additives to enhance the cold flow characteristics of fuels used in the transportation industry. Diesel and biodiesel fuels are integral to the operations of the transportation industry, including road, rail, and maritime transportation. The addition of cold flow improvers to these fuels not only prevents gelling and filter clogging but also increases fuel efficiency, reduces emissions, and improves engine performance. The need for cold flow improvers is expected to increase with the growing demand for alternative fuels such as Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) in the transportation sector.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @
Cold Flow Improver Market: Segmentation
The growth of the cold flow improver market is primarily driven by the increasing demand for low-temperature diesel and biodiesel fuels, particularly in colder regions, where traditional diesel fuels tend to gel and clog fuel filters, leading to engine shutdowns and operational downtime. Cold flow improvers are used in low-temperature diesel fuels to improve their flow characteristics, prevent gelling, and enhance overall engine performance.
Another factor contributing to the growth of the cold flow improver market is the rising demand for effective fuel additives that can enhance the cold flow characteristics of transportation fuels. Diesel and biodiesel fuels play a critical role in transportation, and the use of cold flow improvers not only prevents gelling and filter clogging but also improves fuel efficiency, lowers emissions, and enhances engine performance. The demand for cold flow improvers in transportation fuels is expected to rise with the growing demand for alternative fuels such as Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) in the transportation sector.
The cold flow improver market is segmented based on type outlook, application outlook, and regional outlook. The report covers revenue forecast, company ranking, competitive landscape, growth factors, and trends for each of these segments. The availability of historical data for 2020-2021 and the estimation year of 2022 serve as the base year for analysis, with the forecast period extending from 2022 to 2032. The quantitative units used in the report are revenue in USD billion, with a CAGR of 5.1% projected from 2022 to 2032.
Request Inquiry before buying:
Cold Flow Improver Market: Strategic Development
Several companies have made significant developments in the cold flow improver market in recent years. In 2021, BASF SE introduced KEROPUR® 207, a cold flow improver additive designed to enhance the low-temperature performance of diesel fuels. This product is suitable for use in both summer and winter diesel blends and outperforms traditional cold flow improvers at lower treat rates.
Evonik Industries AG made a strategic acquisition in 2020, purchasing PeroxyChem, a U.S.-based company specializing in the production of specialty chemicals, including cold flow improvers. This acquisition was aimed at expanding Evonik's presence in the specialty chemicals market.
Also in 2020, Innospec Inc. introduced a new line of cold flow improver additives known as FuelRight® Plus. These additives are designed to improve the low-temperature performance of diesel fuels and offer improved fuel economy and reduced emissions.
In 2019, The Lubrizol Corporation acquired the cold flow improver business of Weatherford International, a U.S.-based oilfield services company. This acquisition aimed to enhance Lubrizol's presence in the oil and gas industry and expand its product offerings in the cold flow improver market.
Cold Flow Improver Market: Competitive Landscape
The global elastomeric sealant market is highly competitive and is dominated by several key players, including BASF SE, Infineum International Ltd., Evonik Industries AG, The Lubrizol Corporation, Chevron Oronite Company LLC, Croda International Plc, Chevron Phillips Chemical Company, Afton Chemical Corporation, Innospec Inc., and Schlumberger Limited.
Request Customization of this Report:
Browse Trending Reports:
Industrial Biotechnology Market
Polyvinylpyrrolidone (PVP) Market
Temperature Controlled Packaging Solutions Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Nikhil Morankar
Reports and Data
+ 12127101370
email us here
Visit us on social media:
facebook
twitter
linkedin
Comments
No comment