Pour Point Depressants Market Size is Expected to Surpass US$ 2.7 Billion Through 2031 | Transparency Market Research Inc.

The global pour point depressant market is witnessing substantial growth driven by the expanding oil and gas industry. This article delves into the key factors propelling market advancement, major players shaping the industry landscape, and the outlook for the future.

Request for a sample of this research report at (Use Corporate Mail Id for Quick Response) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=31946

Market Overview:

Pour point depressants (PPDs) play a pivotal role in the oil and gas sector by preventing wax deposition and enhancing system performance. These chemical compounds with polymeric structures are added to crude oil to lower the pour point, ensuring the oil remains flowable even at extremely low temperatures.

Key Growth Drivers:

Oil & Gas Industry Expansion: The surge in demand for PPDs is closely tied to the growth of the oil and gas industry. These additives facilitate the transportation of high-paraffin oils without heating, enhancing pipeline flexibility and reducing heating in the fuel distribution system.

Rapid Industrialization: The global presence of diverse industries, including automotive, marine, and aerospace, contributes to the increasing adoption of PPDs. Industries use these additives to eliminate wax formation risks and enhance system performance, ensuring smooth machinery operation even in cold climates.

Technological Innovations: Key market players are adopting technological innovations to expand their global presence. Business expansion, investments, and mergers & acquisitions are strategic moves to widen customer bases and stay competitive in the evolving market.

Pour Point Depressant Types:

Ethylene-co-vinyl Acetate (EVA): EVA, a copolymer of ethylene and vinyl acetate, dominates the market with a share of 45.90% in 2022. Its ability to lower the pour point of oil and exhibit long-term stability contributes to its continued growth.

Applications:

Lubricants: Lubricants account for a significant portion of the market, with a share of 57.4% in 2022. PPDs, when used in combination with other additives, improve low-temperature fluidity, lubrication, and protection of engine components, fostering a 5.2% CAGR during the forecast period.

Oil & Gas: The oil and gas industry is the major end-use segment, holding a market share of 44.10% in 2022. PPD additives are crucial in reducing the pour point of crude oil and mitigating issues like wax and paraffin deposition during transportation and storage.

Regional Outlook:

Asia Pacific Dominance: Asia Pacific led the market in 2022 with a 26.90% share and is expected to account for 28.70% in 2031. Increased applications in oil & gas in countries like China, ASEAN, and Japan, combined with economic growth, drive market development in the region.

Buy this Premium Research Report | Immediate Delivery Available at - https://www.transparencymarketresearch.com/checkout.php?rep_id=31946<ype=S

Key Players:

Top Industry Players: Afton Chemical, Croda International plc, BASF SE, The Lubrizol Corporation, Evonik Industries AG, Clariant Corporation, Innospec, Inc., Infineum International Limited, and Sanyo Chemical are the major players, collectively holding 40% to 50% share in 2022.

Strategic Developments: Players focus on technological innovations, business expansion through acquisitions, financial restructuring, and mergers & acquisitions to strengthen their global presence.

Recent Developments:

BASF SE Expansion: BASF SE plans to build a new hexamethylene diamine (HMD) plant in Chalampé, France, to increase annual production capacity, showcasing the company's commitment to growth.

Evonik's Distribution Restructure: Evonik's oil additives business line restructured its distribution setup in South Africa, appointing Umongo Petroleum (PTY) Ltd as its new distribution partner, indicating the company's strategic approach to regional markets.

The global pour point depressant market is poised for significant growth, driven by the expansion of the oil and gas industry and rapid industrialization. Key players' strategic initiatives and technological innovations will shape the industry's future, ensuring the continued demand for pour point depressants in various end-use applications.

More Trending Reports by Transparency Market Research -

Hydrobromic Acid Market - https://www.globenewswire.com/en/news-release/2023/08/09/2721854/32656/en/Hydrobromic-Acid-Market-Revenue-to-Cross-USD-934-Million-Expected-to-Rise-at-a-6-7-CAGR-from-2022-to-2031-Exclusive-Report-by-Transparency-Market-Research.html

Spiral Membrane Market - https://www.globenewswire.com/en/news-release/2023/08/10/2722390/32656/en/Spiral-Membrane-Market-Revenue-to-Cross-US-16-3-billion-Globally-by-2031-To-Rise-at-a-10-5-CAGR-Exclusive-Report-by-Transparency-Market-Research.html

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.