In several developed economies, commercial buyers favor devices with advanced diagnosis and automation. Through research and development and product innovation in pour point depressants products, manufacturers have considerably enhanced their response time for such custom requirements of clients. This trend is likely to gain momentum across the global market and create remarkable prospects in the near future and in turn fuel market revenue growth in the coming years.
China to emerge as the leading consumer in the coming years
Significant growth potential exists in emerging economies such as those in the Asia Pacific region. There is a substantial demand for lubricants additives based products in countries such as India, China, and South Korea. As the chemical industry grows, investments in product development by key manufacturers could create a significant opportunity for end use industries as a rise in the demand for automotive, industrial, and oil and gas will lead to an increase in the consumption of pour point depressants.
Additionally, the use of pour point depressants in different applications in the region is also adding up to the growth of the market in China and other Asian countries. Pour point depressants must be custom made as per the base oils. Similar applications may require different pour point depressants with respect to different product specifications. If the right pour point depressant is not selected, the low temperature viscosity increases eventually, which restricts the oil to protect the engine in critical conditions.
The selection of pour point depressant rests on the performance package, base stocks, and the viscosity index improvers being used. When the range of lubricants being manufactured at the blending plant is extensive, it becomes tougher to select the right pour point depressant.
For instance, in the recent past, a severe winter with cold waves hit China, owing to which many oil makers found alternatives for base oils in order to keep the production going. These new base oils are anticipated to require different pour point depressants. The growing population and automotive industry of the region is also supplementing the growth of the pour point depressants market.
The burgeoning disposable income is impelling investors to invest more in the automotive industry. The ever flourishing demand for vehicles has prompted automobile manufacturers to advance production output to accommodate growth, thereby positively influencing the sales of lubricant additives in the global automotive market.
Western Europe and North America to witness growing consumption of pour point depressants in the near future
Manufacturers of various equipment and end users are demanding fluids that deliver greater robustness and effectiveness. Waxy buildup is a nuisance for today’s automotive OEMs. OEMs, at present, are concerned about the wax present in almost all refined mineral lubricating oils, which tend to crystallize at low temperatures and prevent the lubricating oil from flowing in the engine.
To address this issue, automotive OEMs and end users based in this climate zone are looking forward to employing pour point depressants as they have the ability to advance the low temperature flow of lubricating oils. These dynamics, when integrated, will act as a core bolstering force for the pour point depressants market in cold regions such as North America and mostly Western Europe.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
- Poly Alkyl Methacrylate
- Styrene Ester
- Alkyl Aromatic Polymer
- Alkylated Polystyrene
Base Oil Additives
- Group I
- Group II
- Group III
End Use Industry
- Oil & Gas
- Exploration & Production
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia