Cold flow improver prevents the gelling/crystallization of diesel fuel and biodiesel during cold weather and temperatures.
The global cold flow improver market is estimated to value US$ 331.6 Mn in 2017, and is projected to register a CAGR of 5.7% in terms of value during forecast period 2017–2026. The first five-year cumulative revenue (2017–2021) is projected to be US$ 1.9 Bn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
Global Cold Flow Improver Market Dynamics:
Advantages offered by cold flow improver over other additives at low temperature are expected to drive the global market in the future. Cold flow improver (CFI) can be used instead of other fuel additives to avoid gelling or crystallization of diesel fuel due to easy application, it lowers cold filter-plugging point (CFPP) by up to 40°F. In addition, it also enhances engine reliability in cold temperatures, improves low-temperature start ability, prevents wax settling during storage, inhibits fuel-filter icing, reduces downtime and maintenance costs and is alcohol-free.
Increasing demand of diesel fuel owing to dependency on diesel fuel is relatively robust in the construction and mining sectors, and also requirement of this fuel is significantly high among municipalities, freight and commercial transportation companies. Diesel is also widely used in back-up generators in residential and commercial sectors during power outages. In addition, the military uses diesel fuel in tanks and trucks because diesel fuel is less flammable and less explosive than other fuels. Diesel engines are also less likely to stall when compared to gasoline fuelled engines.
Awareness about depletion of fossil fuel resources and environment-related issues, has resulted in exploration of more viable and sustainable fuel resources. Biodiesel has become a more attractive option in recent years as an alternative to conventional fuels. Cold flow improver restricts biodiesel-based fuels from crystallization and/or freezing in refinery applications as well as in vehicles. Increasing adoption owing to necessity in cold regions is expected to drive growth of the market over the forecast period.
Global cold flow improver market has been segmented on the basis of type, application and region. On the basis of type, the global cold flow improver market is segmented into polyacrylates, polyalkyl methacrylate, ethylene vinyl acetate, and fluorocarbon vinyl acetate. Ethylene vinyl acetate segment is projected to account for major market share in terms of revenue during the forecast period. This can be attributed to its properties such a wax dispersant at cold temperatures, which inhibits the formation and deposition of wax on the walls of the pipeline and in diesel engines of heavy and light vehicles.
On the basis of application, the global cold flow improver market is segmented into automobile, aerospace & defense, and others (mining, oil refinery, and domestic use). Among all application segments, automobile segment is projected to grow at fastest CAGR over next ten years, owing to rising demand for diesel automobiles in the regions such as Europe and North America, coupled with cold climatic conditions are major factors expected to demand for cold flow improver over the forecast period.
On basis of region/country, the global cold flow improver market is segmented into North America, Europe, China, Japan, South America, India, Middle East & Africa, and Rest of the World.
Europe market accounted for major market share in terms of revenue to the global cold flow improver market in 2016. Europe cold flow improver market is expected to witness major growth over next ten years, owing to high rate of diesel fuel consumptions. The market in North America is expected to grow steadily in the coming years owing to rising trend of refiners to produce a lighter diesel fuel to meet diesel pipeline specifications, which are based on cloud point and pour point.
Request For Sample Copy Of The Report Before Buying: https://marketresearch.biz/report/cold-flow-improver-market/request-sample/
The market in North America accounted for revenue share of over 30% in the global cold flow improver market in 2016. Adoption of biodiesel in countries in North America is increasing due to high blending property with diesel and is more environment friendly owing to lower emission of carbon and sulphur, and it also helps to reduce carbon footprint. In addition, a major and rising trend in the North America market is that refiners are producing a lighter, fungible diesel fuel to meet diesel pipeline specifications, which are based on cloud point and pour point. This is another factor expected to boost demand for cold flow improver from domestic players and drive market growth in the coming years.
Key players in the global cold flow improver market include Afton Chemical Corporation, BASF S.E., Evonik Industries AG, Huntsman International LLC., AkzoNobel N.V, Baker Hughes Incorporated, Chemtura Corporation, and Innospec Inc.