Burgeoning demand for vehicles and need for new base oils are expected to increase the production sales of pour point depressants. A recent report by Future Market Insights estimates a sluggish 3.7% CAGR growth of the global market for pour point depressants during the period, 2018-2028. Development of effective and beneficial pour point depressants for the end-users will be a noteworthy trend, which in turn will drive the global market growth in the coming years. The report further facilitates with important landscapes for the growth of global market for pour point depressants in the near future.
Analysts involved during the development of this report have offered essential insights on how global market for pour point depressants will expand through 2028. Besides, analysts have answered to the main concerns of the industry shareholders and market observers.
According to you, what are the major factors responsible for the growth of global market?
Increasing population leading to rising demand in industrial and automobile sectors is expected to be the major reason behind the growth of global market for pour point depressants.
Why are stringent regulations being imposed on the manufacturers of automotive industry?
Well, there has been excessive carbon emissions from the automobiles due to which various regulatory bodies and governments have planned to impose stringent regulations on the manufacturers of automobile industry across the globe. Diesel and petrol based automobiles are the main cause for air pollution.
How are the stringent regulations in automobile industry posing a threat to the global market?
The stringent regulations in the automobile industry has led to manufacturers increasing the usage of CNG vehicles that is eventually posing a challenge to global market for pour point depressants.
What are the manufacturers in the global market working on for the expansion of global market?
Manufacturers in the global market such as BASF PETRONAS Chemicals are increasing M&A for expanding their consumer base as well as to expand their product portfolio. This company had recently introduced a new plant for manufacturing high performance lubricant additives and fuel.
Can you provide some valuable insights on the regions in the global market?
Asia Pacific is expected to lead the global market in the forthcoming years. There has been rapid increase of chemical industry in APAC region leading to growing demand for lubricant additives. Cold regions namely North America and Western Europe are likely to increase the usage of pour point depressants in the near future, which makes them lucrative for the global market. This is due to the ability of the product to develop minimal temperature flow of the lubricating oils.
Can you enlist the key players in global market for pour point depressants?
Yes. Certainly I can. Key players in the global market for pour point depressants include Evonik Industries, AkzoNobel N.V., The Lubrizol Corporation, NALCO Champion and Qingdao Lead Oilfield Solutions Co., Ltd. By introducing innovative pour point depressants, the key players are working towards achieving a competitive position in the global market for pour point depressants.
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