Frequently Asked Questions
The global cold flow improver market also suffered from the COVID-19 pandemic, which resulted in a decline of over 2.6% in revenue generated in 2020.
Asia Pacific region accounted for the highest share in the global cold flow improver market regarding value and volume.
The increasing use of polyalkyl methacrylate as cold flow improvers, the growing automobile and aviation industries, increased awareness of the scarcity of fossil fuel resources, rapid industrialization, favorable government policies, massive FDI investment in the automotive sector, growing demand for environment-friendly products, and rising capacity for finished fuel are the major drivers of the market growth.
The polyalkyl methacrylates segment had a major share in 2021, with more than 42% of the market revenue. Besides, ethylene vinyl acetate is projected to witness the fastest growth.
The automotive sector had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.