The Cold Flow Improvers Market is projected to grow from USD 605 million in 2018 to USD 806 million by 2023, at a CAGR of 5.9% during the forecast period. The growth of the market can be attributed to the increasing consumption of cold flow improvers in the automotive industry.
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- In March 2017, Lubrizol Corporation (US) and Indian Oil Corporation entered into a 50-50 joint venture, Lubrizol India Private Limited (LIPL). LIPL manufactures and markets additive systems for automotive and industrial lubricants.
- In January 2017, Infineum International Limited (UK) 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.
- In March 2016, Infineum International Limited (UK) started producing lubricant additives in its new blending plant at Zhangjiagang, China. The expansion is due to the rising demand for lubricant additives in APAC, especially from China and India.
The diesel fuel segment accounts for the largest share of the overall market.
Based on application, the cold flow improvers market has been segmented into diesel fuel, lubricating oil, aviation fuel, and others. The diesel fuel application segment is projected to lead the overall cold flow improvers market during the forecast period. The large market size in this segment is mainly attributed to stricter biofuel mandates and the high demand in various end-use industries such as automotive.
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Key questions addressed by the report
- Which are the revenue pockets in cold flow improvers market?
- What are the prime strategies of leaders in the cold flow improvers market?
- What is the future product mix of cold flow improvers market?
- Which key developments are expected to have a high impact on the cold flow improvers market?
- Which product/technologies are expected to cannibalize existing technologies?
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