Increasing Lubrication Needs Helping Pour Point Depressant (PPD) Market Progress

The major factors helping the pour point depressant (PPD) market advance are the expanding automobile sector, increasing usage of such materials in the oil & gas industry, and rising demand for them from developing countries. The market, which generated $1,487.2 million revenue in 2016, is predicted to progress to $1,902.3 million by 2023, at a CAGR of 3.7% during the forecast period (2017–2023). PPDs are used to keep oils and lubricants flowing at low temperatures, by decreasing their freezing or crystallizing point.

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Based on application, the pour point depressant market is bifurcated into the lubricant and oil & gas. Of these, the lubricant bifurcation dominated the market during the historical period (2013–2016), owing to the increasing usage of lubricants in the aviation, automotive,marine, and industrial domains. Lubrication is necessary to keep engines and machinery in the above-mentioned sectors running smoothly, by reducing the friction between the parts in contact.

Across the world, APAC led the pour point depressant market in 2016, primarily due to the heavy usage of lubricants. Additionally, the region accounted for the highest crude oil refining capacity in the world, of almost 32.1%, which led to a high demand for PPDs from the oil & gas sector. During the forecast period, the region is predicted to witness the highest CAGR, in terms of volume as well as volume, to continue being the largest market for PPDs.

Competitive Landscape of Pour Point Depressant Market

Leading players in the pour point depressant market include Evonik Industries AG, Clariant AG, Chevron Corporation, The Lubrizol Corporation, and Akzo Nobel N.V..
In order to garner a larger share, market players are involved in several strategic developments. For instance, in July 2016, The Lubrizol Corporation acquired Diamond Dispersions Ltd., a company exclusively focused on the production of water-based dye and pigment dispersions for inks used in digital printing.

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Created on Mar 27th 2020 08:19. Viewed 186 times.

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