From 66 million in 2009, the sale of automobiles around the world increased to 91 million in 2019, says Organisation Internationale des Constructeurs d'Automobiles (OICA). This has been a result of the increasing purchasing power of people, especially those living in emerging economies. With the rising procurement of vehicles, the demand for numerous products, such as engine oils, coolants, and lubricants, has also surged. These fluids are important to keep the engine in a good operating condition, by minimizing wear and tear.

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Though these fluids are highly advantageous, especially in times when the fuel economy of vehicles is the biggest issue, they also have certain limitations. In colder conditions, they stop flowing and begin crystallizing, which leads to the formation of wax. This way, their utility is lost and the engine starts experiencing increased friction, which raises the consumption of fuel. So, to stop the lubricants, engine oil, and coolants from crystallizing at lower temperatures, pour point depressants (PPDs) are added.

 

Hence, with the rising purchase of automobiles around the world, the pour point depressant market, which generated $1,487.2 million in 2016, seems set on the path to reaching $1,902.3 million by 2023, at a 3.7% CAGR during 2017–2023 (forecast period). With continuous research and development (R&D), several new kinds of PPDs are making it into vehicles, such as poly alpha olefin (PAO). The usage of PAO-based PPDs modifies the crystallization properties and the viscosity of the fluids they are being added to, at lower temperatures. Similarly, the other advanced chemistries, on which PPDs are being based, are styrene ester and polymethacrylate.

Presently, the most lucrative pour point depressant market is Asia-Pacific (APAC), as a result of the bettering living standards, fast-paced infrastructure development, and swift urbanization. Additionally, the automobile sector in the region is also expanding, with India and China already among the world’s largest vehicle manufacturers and buyers. Similarly, China and India are at the top of the rankings of the most industrially productive nations, thus reflecting a huge demand for PPDs.