The market for pour point depressants was expected to reach US$ 1,974.80 million by 2022. The industry is projected to be valued US$ 2,048.00 million by the end of 2023. The pour point depressant market is expected to expand at a rate of 3.70% CAGR over the course of the forecast period, reaching a valuation of US$ 2,945.22 million by 2033.
The growth of cold chain logistics within the food, pharmaceutical, and chemical industries, along with the increasing need for commodities that are sensitive to temperature, are driving the market for pour point depressants. Pour point depressants maintain the flow properties of lubricants used in refrigerated storage and transit, which helps to maintain the integrity of the product.
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Key Takeaways from the Market Analysis
● Pour point depressant sales in the United States will likely rise at a 4.00% CAGR over the course of the projected year.
● From 2023 to 2033, the pour point depressant market in the United Kingdom is expected to flourish at a CAGR of 3.30%.
● Pour point depressant demand in Germany are anticipated to expand at a 4.10% CAGR over the course of the projected year.
● Pour point depressant sales in China are anticipated to surge at a 4.10% CAGR between 2023 and 2033.
● Over the course of the forecast period, the pour point depressant market in India is projected to expand at a 3.80% CAGR.
● In 2023, it is anticipated that the poly alkyl methacrylate segment will reach a market share of 33.8%.
● The group II category is projected to account for 51.9% of the global market in 2023.
“The increased adoption of environmentally friendly pour point depressant solutions, as well as continued technological improvements leading to better low temperature performance, will eventually drive demand in the global market,” remarks an FMI analyst
Competitive Landscape
Manufacturers invest efforts in research and development to create new pour point depressant formulas. Companies can differentiate themselves in the market and command premium prices by creating products with unique features, such as enhanced performance or versatility with different types of crude oil.
Manufacturers often expand geographically to access new markets where pour point depressants are becoming more and more necessary. Businesses can increase their customer base, diversify their revenue streams, and increase profitability by going global via alliances, mergers, or acquisitions.
Key Developments
● In 2022, to better serve its clients in the pharmaceutical, home care, personal care, and industrial application sectors, Clariant planned to enlarge its Care Chemicals facility in Daya Bay, Huizhou, China.
● By 2024, the CHF 80 million investment will have increased capacity for current goods and brought new ones to market. The Clariant Daya Bay manufacturing plant has become the first API company in China to have approved polyethylene glycol Polyglykol 3350 after successfully receiving the medication GMP certificate. The location will serve as a new worldwide center for Clariant's healthcare business support, expediting the delivery of premium ingredients for medications that have the potential to save lives.
● In 2022, Lubrizol and Grasim Industries Limited initiated the construction of the first phase of a 100,000 metric ton CPVC resin facility in Vilayat, Gujarat, India. The Grasim Industries complex will house the largest single site CPVC resin production capacity in the world. It is intended to provide the growing demand for CPVC piping uses across India and its surrounding nations, including Bangladesh, Indonesia, and Nepal.
Key companies profiled in the Pour Point Depressant Market
AkzoNobel N.V.
Chevron Oronite Company L.L.C.
Clariant
Afton Chemical Corporation
The Lubrizol Corporation
Evonik Industries
Infineum International Limited
NALCO Champion
Shengyang Greatwall Lubricant Oil Co. Ltd.
The Aurora Chemical
Puyang Jiahua Chemical Co., Ltd.
Sanyo Chemical Industries Ltd.
Qingdao Lead Oilfield Solutions Co. Ltd
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pour point depressant market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the global pour point depressant market, the market is segmented on the basis of chemical compositions (poly alkyl methacrylate, styrene ester, alkyl aromatic polymer, alkylated polystyrene, others), base oil additives (group I, group II, group III), end use industry (lubricants, industrial, automotive, marine, aviation, oil & gas, exploration & production, refining) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).