(MENAFN- PR Newswire)
NEW YORK, June 28, 2024 /PRNewswire/ -- The global
polymethacrylate in vii and pour point depressant (PPD) market
size is estimated to grow by USD 378.5 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
3.2%
during the forecast period. Increasing demand for high-performance lubricants
is driving market growth,
with a trend towards
increasing demand for fuel-efficient vehicles. However,
volatility in raw material prices
poses a challenge. Key market players include Additive-Chemie Luers GmbH and Co. KG, American Hitech Petroleum and Chemicals Inc., DANA Lubricants Factory LLC, Evonik Industries AG, Functional Products Inc., Infineum International Ltd., Jinzhou Kangtai Lubricant Additives Co. Ltd., Jinzhou Runda Chemical Co. Ltd., Kusa Chemicals Pvt Ltd., Mitsubishi Chemical Group Corp., NewMarket Corp., Nouryon Chemicals Holding BV, RX Marine International, Ter Group, The Lubrizol Corp., and Zhengzhou Chorus
Lubricant Additive
Co. Ltd.
.
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Technavio has announced its latest market research report titled Global polymethacrylate in VII and pour point depressant (PPD) market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies-
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| Polymethacrylate in VII
and Pour Point Depressant (PPD) Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 3.2% |
| Market growth 2024-2028 |
USD 378.5 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
3.06 |
| Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
| Performing market contribution |
North America at 47% |
| Key countries |
China, US, Japan, Germany, and France |
| Key companies profiled |
Additive-Chemie Luers GmbH and Co. KG, American Hitech Petroleum and Chemicals Inc., DANA Lubricants Factory LLC, Evonik Industries AG, Functional Products Inc., Infineum International Ltd., Jinzhou Kangtai Lubricant Additives Co. Ltd., Jinzhou Runda Chemical Co. Ltd., Kusa Chemicals Pvt Ltd., Mitsubishi Chemical Group Corp., NewMarket Corp., Nouryon Chemicals Holding BV, RX Marine International, Ter Group, The Lubrizol Corp., and Zhengzhou Chorus
Lubricant Additive
Co. Ltd.
|
Market Driver
The global polymethacrylate market in VII and PPD is experiencing significant growth due to the increasing demand for fuel-efficient vehicles. Polymethacrylates function as viscosity index improvers (VII) in automotive engine lubricants, enhancing fuel efficiency by minimizing engine friction and wear. Traditional ICE-based vehicles and emerging electric vehicles both utilize lubricants containing polymethacrylates. Regulatory initiatives, such as the European Union's goal to reduce CO2 emissions from new cars by 37.5% by 2030, further fuel the demand for fuel-efficient vehicles and, consequently, polymethacrylates. The expanding automotive industries in emerging markets like China and India, driven by urbanization and rising incomes, are also anticipated to boost the market for polymethacrylates as the demand for more fuel-efficient vehicles increases.
The Polymethacrylate market, specifically in the area of Pour Point Depressants (PPDs), has seen significant growth in recent years. Companies are focusing on developing innovative solutions to enhance the performance of PPDs in various applications. The use of Crystalline Polymethacrylate (CP) and Liquid Polymethacrylate (LP) in the oil industry as PPDs is on the rise. These materials help lower the pour point of heavy oils, enabling easier handling and transportation in cold climates. Furthermore, the trend towards using environmentally friendly PPDs is gaining momentum. The demand for biodegradable and eco-friendly PPDs is increasing due to growing concerns about the environmental impact of traditional PPDs. The future of the Polymethacrylate PPD market looks promising, with continued research and development leading to new and improved products.
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Market
Challenges
The polymethacrylate market in VII and PPD faces challenges from volatile raw material prices. Factors such as supply-demand imbalances, feedstock price changes, economic conditions, and geopolitical events influence these prices. In 2021, crude oil and its derivatives, like propylene and ethylene, experienced volatility due to supply disruptions, demand shifts, and geopolitical tensions. Key raw materials for polymethacrylate-based additives, such as methacrylic acid and butyl acrylate, have also been volatile. Companies like Lubrizol Corp. Have responded with price increases. Volatility affects profitability, research investment, and market growth. Companies must adapt through sourcing strategies or efficient production processes.
The Polymethacrylate in VII and Pour Point Depressant (PPD) market faces several challenges. The use of crude oils with high wax content poses a significant challenge. These crudes require PPDs to maintain fluidity at low temperatures. However, finding the right PPD for each crude type is a complex task. Additionally, the increasing demand for renewable energy sources and the shift towards electric vehicles may decrease the demand for PPDs in the oil industry. Furthermore, the high production cost of PPDs is another challenge. The need for efficient production methods and cost reduction strategies is crucial for market growth. Lastly, the regulatory environment and compliance with various standards add to the complexity of the market.
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Segment Overview
This polymethacrylate in vii and pour point depressant (ppd) market report extensively covers market segmentation by
Grade Type
1.1 Multi-grade
1.2 Mono-grade
End-user
2.1 PCMO
2.2 HDMO
2.3 Industrial hydraulic oils
2.4 Automotive gear oils
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1
Multi-grade-
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The Polymethacrylate in VII and Pour Point Depressant (PPD) market encompasses the production, application, and trade of polymethacrylate-based products used as additives in various lubricants. These additives, including Poly alkyl methacrylate (PAMA), Styrenemaleic anhydride (SMA), Polyoxyethylene lauryl ether (POE), Ethylene vinyl acetate (EVA), and other polymethacrylates, play a crucial role in enhancing the performance of lubricants in heavy machinery applications. They help improve fuel economy, reduce carbon footprint, and ensure optimal oil flow in extreme temperatures. PPDs, specifically, are essential in preventing wax crystals from forming and obstructing oil flow in crude oil and lubricants, such as engine oils, gear oils, hydraulic fluids, and base oils. The viscosity and rheology of these lubricants are significantly influenced by the addition of polymethacrylate-based additives, ensuring optimal performance in various industrial applications.
Market Research Overview
The Fuels, Temperature, Polymethacrylate, Oil, Poinyals, Crystals, Neworks, Gear, Engines, Heavy, Fluids, Drilines, Drive, Wax, Crystals, Consumers, Portechemicals, Petrochemical, Alkylates, Polymers, Chemicals, Porters, Analyzes, Styrenes, Ethylene, Vinyls, Crude, Depressants, Base, Oils, Flows, Heavy, Lubricants, Polymethacrylate, In Vii, Pour Point Depressant (PPD) market refers to the industry sector that deals with the production, supply, and application of Polymethacrylate in Vii and Pour Point Depressants. These specialized chemicals are used to enhance the performance of fuels and lubricants by lowering their pour point, enabling them to flow smoothly even in extreme cold temperatures. Polymethacrylate in Vii and Pour Point Depressants are essential components in various industries, including fuel, petrochemical, and lubricant sectors. They play a crucial role in improving the efficiency and productivity of these industries by ensuring seamless flow of fluids even in harsh conditions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Grade Type
End-user
PCMO
HDMO
Industrial Hydraulic Oils
Automotive Gear Oils
Geography
APAC
Europe
North America
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Media & Marketing Executive
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SOURCE Technavio
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