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The global pour point depressant (PPD) market was valued at $1,487.2 million in 2016, and it is predicted to register a CAGR of 3.7% during the forecast period (2017–2023), reaching $1,902.3 million by 2023.
Asia-Pacific (APAC) held the largest revenue market share, accounting for over 32%, in 2016. The market in the region in expected to witness a fast-paced growth owing to factors such as rapid urbanization, improving living standards, along with infrastructural development in emerging economies. In addition, with the setup of new automobile manufacturing plants in the region, the market demand for PPD and lubricants is projected to increase in the coming years.
Factors Governing Pour Point Depressant Market
The market demand for PPD has witnessed a significant rise over the past few years in the automotive industry. This is attributed to the growing demand for PPD for the manufacturing of lubricants required for vehicles. Further, the increase in automotive production in various countries, such as Brazil, Thailand, India, and Indonesia, is expected to drive the pour point depressant market.
In recent years, significant research and development (R&D) activities have taken place for the development of different types of PPDs. For instance, the development of poly alpha olefins (PAO) for the manufacturing of PPD. Usage of PAO in manufacturing of PPD effectively improves low-temperature viscosity and modifies crystallization behavior. Hereby, several other developments similar to this are expected to serve as upcoming opportunities for the pour point depressant market in the coming years.
Segmentation Analysis of Pour Point Depressant Market
The lubricant industry category in terms of end user dominated the pour point depressant market with a larger share in 2016, and is expected to showcase a higher CAGR during the forecast period. PPD is vastly used in the manufacturing of lubricants since it has the ability to prevent wax crystal formation at low temperatures.
The poly alkyl methacrylate category held the largest revenue share in terms of chemistry, in 2016, in the pour point depressant market. Also, it is projected to grow fastest during the forecast period. This growth can be attributed to large-scale usage of poly alkyl methacrylate in the manufacturing of lubricants. Poly alkyl methacrylate copolymer comprises about 60–96%, by weight of C12-C16 alkyl methacrylates; and about 4–40% by weight of C18-C30 alkyl methacrylates.
The automotive application category held largest revenue share in the pour point depressant market in 2016. This is ascribed to the high-volume usage of lubricants in the automotive industry. With the increase in automotive production across the globe, the market demand for PPD from automotive industry is projected to increase.
|Market Size by Segments||End User, Chemistry, Application|
|Market Size of Geographies||India, China, Japan, Russia, Germany, U.K., France, Italy, Spain, U.S., Canada, Brazil, Mexico, Venezuela, South Africa, Saudi Arabia, Iran|
|Market Players||Afton Chemical Corporation, Chevron Corporation, Croda International Plc., The Lubrizol Corporation, Sanyo Chemical Industries, Ltd., INNOSPEC INC., Clariant AG, Messina Incorporated, Akzo Nobel N. V., Evonik Industries AG|
Geographical Analysis of Pour Point Depressant Market
Geographically, APAC accounted for the largest share in 2016 in the pour point depressant market. The market in the region is expected to witness a significant growth during the forecast period, owing to boom in the economies of the developing countries, such as China, India, Malaysia, and Thailand. In addition, rapid urbanization, changing lifestyles, improving living standards, and development in infrastructure sector are boosting the market demand for PPD.
Competitive Landscape of Pour Point Depressant Market
Some of the leading players operating in the global pour point depressant market include Clariant AG, Akzo Nobel N.V., Chevron Corporation, The Lubrizol Corporation, and Evonik Industries AG, among several others.
Recent Strategic Developments of Major Pour Point Depressant Market Players
Several players in the pour point depressant market have taken strategic measures in order to gain larger share in globally. For instance, in July 2016, ALTANA AG acquired the Dutch enterprise Addcomp Holland BV, a developer and manufacturer of unique polymer additive solutions. Addcomp will be integrated into the plastic additives business line of ALTANA’s largest division BYK Additives & Instruments.
Market Size Breakdown by Segment
The Pour Point Depressant (PPD) Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.
Based on End User
Based on Chemistry
Based on Application
Key Questions Addressed