Market Trends of Cold Flow Improver Industry
This section covers the major market trends shaping the Cold Flow Improver Market according to our research experts:
Increasing Demand from Aerospace & Defense Segment
- Aviation sector makes extensive use of the cold flow improver as the aircraft are usually flying at sub-zero temperatures and it is not possible for a fuel to maintain its flow properties at this low temperature. Hence, additives and fuel are blended to conserve the flowing properties of fuel at very low temperatures.
- Cold flow improvers (CFIs) work by altering the development of crystallizing wax particles. As crystals form, cold flow improver act as a nucleator and co-crystallize with the saturated hydrocarbon chains, rearranging the wax crystal size and shapes from plate-like to needle-like. The smaller wax crystals pass through filters more easily and are less ready to frame a three-dimensional gel structure that impedes the progression of fuel.
- Commercial airlines around the world are estimated to generate a combined revenue of around USD 838 billion in 2019 and is forecasted to accrue a revenue of USD 872 billion in 2020.
- All the aforementioned factors are expected to drive the Cold Flow Improver market during the forecast timeline.
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North America to Dominate Cold Flow Improver Market
- North America is the dominating region for cold flow improver market due to the presence of gigantic aviation industry in the region where the product finds wide applications.
- North America alone comprises of 60% of the total global revenue accumulated by the aviation industry. Countries such as the United States and Canada together share revenue of USD 432.4 billion in 2019.
- Furthermore, Boeing is the world's biggest manufacturer in the aviation sector, and for the fiscal year of 2019, total revenue generated by the aviation giant is estimated to be USD 92.3 billion.
- In 2019, United States defense outlays amounted to USD 676 billion and is forecasted to reach more than USD 800 billion by the end of 2025.
- Thus, rising demand from various industries coupled with government support is expected to drive the market studied in the region during the forecast period.
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