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Pour point depressants are additives used in petroleum based oils to allow them to flow at lower temperatures. Pour point is the temperature below which the oil or fuel loses its ability to pour down from a beaker. Pour point depressants alter the shape and size of the crystals, thereby inhibiting the crystal formation. The additives are effective only on refined fuels and oils. The pour point depressants are usually used in automotive lubricants, industrial lubricants, and oil & gas exploration activities. Rising industrial, and oil & gas exploration activities around the market will grow the pour point depressants market.
The key market driver for the global pour point depressants market is the rising demand for higher quality of lubricants and fuels from several industries. The growth in automotive industry and rapid industrialization in several countries will surge the demand for pour point depressants.
Key Market Driver -
Rising demand for higher quality of lubricants, and fuels from several industries.
Key Market Restraint -
Growing demand for hybrid and electric vehicles.
Key market restraint for the global pour point depressants market is the growing demand for hybrid and electric vehicles. The rise in the use of electric and hybrid vehicles is resulted due to their low carbon emissions, low cost, and higher efficiency. The above reason is expected to act as a market restraint for the pour point depressant market.
Based on product type, the market is segmented into poly alkyl methacrylates, ethylene co vinyl acetate, styrene esters, and poly alpha olefin. Based on application, lubricant, and oil & gas.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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The major companies in the global pour point depressants market are Clariant, Evonik Industries, Lubrizol Corporation, Chevron Corporation, Croda International PLC, Innospec, BASF SE, Santo Chemical Industries Ltd., Infineum International Ltd., Afton Chemicals Corporation, and other key players.
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