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 market for pour point depressant to advance at a CAGR of 3.7% during forecast period. 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.
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The automobile, lubricant, and oil & gas industries are increasing their focus on research and development (R&D), on account of the advancements in technologies, to innovate novel process for utilization of PPDs to enhance the quality of lubricants and crude oils. Moreover, the rising investments by these sectors for the development of polymethacrylate and styrene ester-based PPDs will improve the characteristics of depressants. Hence, the expansion of these end-use industries will lead to the development of enhanced PPDs, across the globe, in the coming years.
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.
Read More: https://www.psmarketresearch.com/market-analysis/pour-point-depressant-market
