The global pour point depressant (PPD) market was valued at $1,487.2 million in 2016 and is expected to reach $1,902.3 million by 2023, demonstrating a CAGR of 3.7% during the forecast period (2017–2023). The poly alkyl methacrylate category under chemistry segment dominated the market during the historic period.
This category is further expected to hold a significant share in the global market during the forecast period, owing to large-scale usage of poly alkyl methacrylates in manufacturing of lubricants, particularly for the automotive industry. Poly alpha olefin category is expected to witness the fastest revenue CAGR during the forecast period. This is attributed to its ability to improve viscosity index of lubricant oils and fluidity of oil products at low temperature.
Technological Advancements to Drive the Market
With advancements in technologies, oil & gas, automotive, and others industries have been heavily involved in research and development (R&D) in order to develop innovative processes to utilize PPD for enhancement of crude oil and lubricants. Since PPD prevents wax fractions in base oils, it is a critical component to inhibit lubricant flow at cold temperatures. With the increasing investments by companies to develop polymethacrylate and styrene ester–based PPD that would enhance the characteristics of depressants, the pour point depressant market for PPD is expected to grow in the coming years.
Segmentation Analysis of Pour Point Depressant Market
The lubricant industry category as an end user dominated the pour point depressant market with the share accounting for over 59% in 2016. In addition, this category is expected to demonstrate faster growth during the forecast period. This can be attributed to the ability of PPDs to prevent wax crystal formation at low temperatures during the manufacturing of lubricants.
The poly alkyl methacrylates category in terms of chemistry accounted for the largest revenue share in 2016 in the pour point depressant market. This category is further projected to retain its dominance during the forecast period. This can be attributed to the usage of poly alkyl methacrylates copolymers as PPDs in paraffinic, naphthenic and aromatic oil. Additionally, it can also be used in gas to liquid (GTL) oils.
The automotive application category accounted for the largest revenue share in 2016, and the trend is likely to continue throughout the forecast period. This can be attributed to the high-volume consumption of PPD in the automotive sector for usage in fuel transportation.
Geographical Analysis of Pour Point Depressant Market
APAC held the largest share in the global pour point depressant market in 2016. This is ascribed to the growth of end-use industries in developing nations of the region. In addition, a significant demand for PPD is likely to arise with the increasing automotive production in the region, which, in turn, is expected to drive the market growth.
Access Report Summary with Detailed TOC on “Pour Point Depressant (PPD) Market by End User (Lubricant, Oil & Gas), by Chemistry (Polyalkyl-Methacrylate, Styrene Esters, Ethylene Co-Vinyl-Acetate, Poly Alpha Olefin), by Application (Automotive, Aviation, Industrial, Marine, Production, Refining, Exploration), by Geography (India, China, Japan, Russia, Germany, U.K., France, Italy, Spain, U.S., Canada, Brazil, Mexico, Venezuela, South Africa, Saudi Arabia, Iran) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023” at: https://www.psmarketresearch.com/market-analysis/pour-point-depressant-market
Competitive Landscape of Pour Point Depressant Market
Leading players in the pour point depressant market include Evonik Industries AG, Clariant AG, Chevron Corporation, The Lubrizol Corporation, and Akzo Nobel N.V..
In order to garner a larger share, market players are involved in several strategic developments. For instance, in July 2016, The Lubrizol Corporation acquired Diamond Dispersions Ltd., a company exclusively focused on the production of water-based dye and pigment dispersions for inks used in digital printing.