Global Pour Point Depressants Market is Expected to Generate Huge Profits by 2028
The report has been titled “Pour Point Depressants Market: Global Industry Analysis 2013–2021 and Opportunity Assessment 2022–2028.” The growth in the automotive industry has provided the global pour point depressants market a substantial push towards development.
The growing oil trade and consumption across cold regions has triggered the demand for pour point depressants. Future Market Insights (FMI) has published a new research report on pour point depressants.
According to the report, the global pour point depressants market is expected to exhibit a CAGR of 3.2% from 2022 to 2028. The market was worth US$ 1.97 Bn in 2022 and is projected to reach a valuation of US$ 2.46 Bn by the end of 2028.
The exploding population will translate to a rise in the demand in the automobile and industrial sectors. This tremendous rise in demand will escalate the consumption of pour point depressants based products across the globe.
In order to meet the increasing requirements of consumers, companies operating in the global market are pulling up their socks and are entering into mergers and acquisitions in order to expand their consumer base and also facilitate product expansion.
Competitive Landscape
Leading players operating in the pour point depressants market are constantly upgrading their product portfolios. They have adopted various organic and inorganic strategies such as partnerships, advanced product launches, collaborations, price reduction, acquisitions and establishment of new facilities to gain a competitive edge in the market.
The other companies operating in the global pour point depressants market are Akzo Nobel N.V., Evonik Industries AG, Clariant, Chevron Corporation, NewMarket Corp., Shengyang Greatwall Lubricant Oil Co., Ltd., and Puyang Jiahua Chemical Co., Ltd., among others.
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Pour Point Depressants Market by Category
By Chemical Compositions:
Poly Alkyl Methacrylate
Styrene Ester
Alkyl Aromatic Polymer
Alkylated Polystyrene
Others
By Base Oil Additives:
Group I
Group II
Group III
By End Use Industry:
Lubricants
Industrial
Automotive
Marine
Aviation
Oil & Gas
Exploration & Production
Refining
Automotive Industry to be the Biggest Support System of the Global Market
The burgeoning urbanisation, industrialisation, and economic growth across the globe is advancing the demand for automobiles in the worldwide market. This in turn is accelerating the demand for pour point depressants to be used in lubricants additives, which can hence withstand the low temperatures in American and European countries.
The growing disposable income of people is compelling investors to invest more in the automotive industry. The ever increasing demand for vehicles has encouraged automobile manufacturers to improve production output to accommodate growth, thereby positively impelling lubricant additives sales in the global automotive market.
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