Global Pour Point Depressants Market Report and Forecast 2024-2032

Global Pour Point Depressants Market Outlook

The global pour point depressants market size attained a value of USD 1.88 billion in 2023. The market is further expected to grow at a CAGR of 3.80% between 2024 and 2032, reaching a value of USD 2.62 billion by 2032.

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Key Trends in the Market

Pour point depressants refer to additives support the flow of lubricants and oils at low temperatures, impeding the growth of wax crystals, so that the lubricants and oils can still flow and be pumped. By acting as wax crystal modifiers, the pour point or lowest temperature at which fuel, lubricant, or oil can flow is reduced further, enabling oil to flow in a smooth way.

• The increasing demand for automotive lubricants, such as crankcase engine oils, automatic and power transmission fluids, and automotive gear oils, is driving the pour point depressants market. Increasing affordability of passenger vehicles across semi-urban areas, growing innovations in luxury vehicles, and rising manufacturing of high-quality sedans with powerful lubrication are in expected to bolster the market for pour point depressants.

• Robust industrialisation across emerging economies, favouring the expansion of automotive, aviation, and oil and gas, among other sectors is further propelling the demand for pour point depressants. Meanwhile, the anticipated increase in demand for marine fuel pour point depressants to ensure proper functioning of marine vessels is likely to add revenue to the global market in the coming years.

Market Analysis

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Based on type, the market is segmented into poly alkyl methacrylates, styrene esters, oligomerized alkyl phenol, phthalic acid esters & copolymers, ethylene co-vinyl-acetate, and poly alpha olefin, among others. On the basis of application, the market is classified into automotive industry, oil and gas, industrial, marine, and aviation, among others. The regional markets for pour point depressants are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global pour point depressants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Akzo Nobel S.A.

• Evonik Industries

• Chevron Corporation

• Croda International PLC

• Innospec

• BASF SE

• Clariant Chemicals

• Sanyo Chemical Industries Ltd.

• Messina Chemicals

• Infineum International Ltd.

• Afton Chemicals Corporation

• Lubrizol Corporation

• Arkema Group

• Krishna Antioxidants Pvt Ltd.

• Others

Market Share by Type

The styrene esters segment, based on type, accounts for a healthy share of the pour point depressants market. The increasing application of styrene esters in liquid moulding fabrication techniques to decrease viscosity and enhance the performance of resin is driving the segment’s growth. Growing industrial use of resins, such as for manufacturing lenses, electronic equipment, and furniture, etc., is further propelling the styrene esters demand. Moreover, low cost and low molecular weight of styrene ester are further heightening their industrial usage as lubricant additive.

Market Share by Application

Based on application, oil and gas is likely to be a fast-growing segment in the pour point depressants market. This can be attributed to the fact that lubrication is essential to maintain pumpability of oil in refineries and plants. Heavy volumes of oil are used in the oil and gas sector which escalates the formation of heavy wax, thereby leading to a heightened demand for pour point depressants. Over the forecast period, the anticipated increase in demand for crude oil is expected to aid oil and gas applications of pour point depressants.

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Competitive Landscape

Akzo Nobel S.A. is a leading paint coating and manufacturing company, with a portfolio of brands of that include Dulux, International Sikkens, and Interpon. The company was founded in 1994 and is headquartered in Amsterdam in the Netherlands.

Evonik Industries is a renowned specialty chemicals company which caters to the demands of medical, food, construction, oil and gas, and tire and rubber, among other sectors. It was established in 2007 and is headquartered in North Rhine-Westphalia, Germany.

Chevron Corporation is a prominent petroleum refineries company based in California, United States. Founded in 1879, this company engages in all kinds of operations related to petroleum, such as exploration, production, marketing, and research.

Other market players include Croda International PLC, Innospec, BASF SE, Clariant Chemicals, Sanyo Chemical Industries Ltd., Messina Chemicals, Infineum International Ltd., Afton Chemicals Corporation, Lubrizol Corporation, Arkema Group, and Krishna Antioxidants Pvt Ltd., among others.

Key Highlights of the Report