The global Cold Flow Improvers Market is estimated to be USD 605 million in 2018 to USD 806 million by 2023, at a CAGR of 5.9% during the forecast period. The cold flow improvers market is segmented on the basis of end-use industry as automotive, aerospace & defence, and others.
Lubrizol Corporation (US), Chevron Oronite (US), Clariant AG (Switzerland), Afton Chemicals (US), BASF SE (Germany), Innospec (US), Evonik Industries AG (Germany), Infineum International Limited (UK), and Baker Hughes (US) are the leading cold flow improvers manufacturers, globally. These companies adopted expansion and partnership as their major business strategy between January 2015 and August 2018 to stay competitive in the cold flow improvers market.
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Infineum International Limited (UK) is another major player in the cold flow improvers market. In January 2017, the company announced the establishment of its first wholly-owned enterprise, Infineum India Additives Private Limited (IIAPL) in Mumbai, India. This focuses on the marketing and business development of the company in India and to expand its reach in the untapped market.
Diesel fuel is estimated to be the largest application of cold flow improvers in 2018.
On the basis of application, diesel fuel is projected to be the largest as well as fastest-growing application during the forecast period. This is due to the increasing demand for high-performance fuel from the automotive industry and the adoption of biofuel mandates by various countries to reduce the consumption of petroleum products.
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The automotive end-use industry is projected to account for the largest share of the market.
Based on end-use, the automotive end-use industry led the demand for cold flow improvers, accounting for the largest share of the overall market. The segment is also projected to be the fastest-growing end-use industry of cold flow improver during the forecast period due to increasing demand for cold flow improvers as fuel additive and stricter fuel specification
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