According to a new report, published by KBV research, The Global Pour Point Depressant Market size is expected to reach $2.8 billion by 2031, rising at a market growth of 4.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 7,983.68 hundred tonnes experiencing a growth of 19.1% (2020-2023).
The pour point depressant market involves producing, distributing, and selling chemicals that lower the pour point of petroleum-based products, such as crude oil, diesel fuel, lubricating oils, and waxes. Pour point depressants (PPD) are additives that prevent the crystallization of paraffin wax and other solid components in petroleum products, thereby improving their flow properties at low temperatures.
The Ethylene Co Vinyl Acetate segment led the Global Pour Point Depressant Market by Product in 2023; thereby, achieving a market value of $1.2 Billion by 2031. Ethylene co-vinyl acetate (EVA) copolymers offer superior performance characteristics as pour point depressants compared to other materials. EVA copolymers are highly effective in lowering the pour point of petroleum fluids and preventing wax crystallization, thereby ensuring the smooth flow of fuels, lubricants, and other petroleum products in cold weather conditions.
The Oil & Gas segment is growing at a CAGR of 3.8 % during the forecast period. Exploration and production of oil and gas often occur in various environmental settings, including very hot and cold ones. In colder climates, crude oil and natural gas can experience waxing or gelling at low temperatures, leading to flow restrictions in pipelines and equipment. Pour point depressants are crucial additives that prevent wax buildup and ensure the smooth flow of oil and gas throughout production, optimizing operational efficiency and minimizing downtime.
Full Report: https://www.kbvresearch.com/pour-point-depressant-market/
The Asia Pacific region dominated the Global Pour Point Depressant Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.1 Billion by 2031. The North America region is anticipated to grow at a CAGR of 3.8% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 4% during (2024 - 2031).
By Product (Volume, Hundred Tonnes, USD Billion, 2020-31)
By End-use (Volume, Hundred Tonnes, USD Billion, 2020-31)
By Geography (Volume, Hundred Tonnes, USD Billion, 2020-31)
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