Crude oil includes wax that has the tendency to solidify within the temperature range of 5–10 oC. High content of n-aliphatic hydrocarbon chains in the crude oil leads to the crystallization of n-paraffin crystals that amplify with reduction in temperature. Formation of paraffin, thereby, reduces the fluidity of oil. To boost the flow of crude oil, lubricant manufacturers use flow improvisers or pour point depressants (PPDs) as chemical additives while transporting such oils at temperatures below which wax starts to appear.
The automotive sector requires the largest quantity of PPDs for the production of lubricants used in vehicles. Largescale manufacturing of automobiles in countries, such as Brazil, India, Indonesia, and Thailand, will assist the pour point depressant market to advance at a CAGR of 3.7% during 2017–2023. The market stood at $1,487.2 million in 2016 and has the potential to reach $1,902.3 million by 2023. Apart from this, the lubricant industry also deploys a significant volume of PPDs as they prevent the formation of wax crystal in oil, at low temperatures.
Owing to the increasing usage of PPDs in the automotive and lubricants industries, companies such as Clariant AG, ALTANA AG, Akzo Nobel N.V., Evonik Industries AG, The Lubrizol Corporation, and Chevron Corporation have been acquiring other players to boost the production of PPDs. For example, ALTANA AG acquired Addcomp Holland BV, a Dutch developer and producer of unique polymer additive solutions, in July 2019. The Dutch enterprise will be integrated into the plastic additives business line of BYK Additives & Instruments, the largest division of ATLANTA AG.
According to P&S Intelligence, the Asia-Pacific pour point depressant market will demonstrate the fastest growth in the foreseeable future, globally. This will be primarily due to the growth in end-use industries in emerging economies of the region. Moreover, the increasing production of automobiles in regional countries, such as India, China, Indonesia, and Thailand, will boost the consumption of PPDs in the coming years. Additionally, the rapid urbanization and the robust development in the infrastructure sector in APAC will boost the utilization of these depressants in the future.
Thus, with the rising production of vehicles and the expanding oil & gas sector, the application and demand for PPDs will rise in the foreseeable future.
Source: www.psmarketresearch.com
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