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Global Cold Flow Improver Market Future Growth, Share, And Forecast
Cold Flow Improver
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.
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.
Europe market is anticipated to grow at a steady growth rate, while demand for cold flow improver in North America region is foreseen to expand at moderate pace in near future.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.
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Moreover, markets Middle East & Africa are also projected to witness moderate growth over the forecast period. With refinery expansion and modernization projects is resulting in steady growth in the oil refinery sector in the region, and production of middle distillates is expected to increase in future to meet growing global demand.
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