Global Crude Oil Flow Improvers Market
Global Crude Oil Flow Improvers Market was valued at US$ 1.25 Bn in 2017, and is anticipated to reach US$ 2.031 Bn by 2026, growing at a CAGR of 6.26 % during the forecast period.
Crude oil being the largest energy resource in the world, it is necessary to distribute and use the crude oil efficiently and productively to cater to the high demand, this has resulted into high demand for crude oil flow improvers globally. Furthermore, growth in hydraulic fracturing is expected to increase the demand for crude oil flow improvers. However, steady decline in crude oil demand owing to government focus toward non-renewable energy and environmental concerns hampers the market growth in the near future. Failure of non-renewable energy resources to meet demand due to high capital investment presents an opportunity for the global crude oil flow improver market. Fluctuating oil price and global recession are challenges for crude oil flow improver market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Paraffin inhibitors segment held the largest share in 2017, contributing more than 25% of the market, Paraffin inhibitors has an ability to minimize the deposition of paraffin on the bore well during crude oil drilling, extraction and refining. Asphaltene inhibitors segment is estimated as fastest growing in the global crude oil flow improver market, followed by the scale inhibitors segment. Asphaltene molecules, present in most of the liquid & gas streams, can clog pipelines, minimize production flow, and lead to production & efficiency losses. Asphaltene inhibitors helps reducing the precipitation of asphaltene from crude oil and increases the production potential to avoid deposition in flowlines.
Among application segment, the extraction segment held the largest share in 2017, contributing about 28 % of the market. However, the pipeline segment is projected to register the fastest CAGR of 6.6% during the forecasts period, owing to its safe and efficient features during transportation of crude oil.
North America region held the largest share in 2017, contributing more than half of the market share, owing to rapid technological advancements, increasing demand for crude oil due to high need for polymers. Recent developments in shale oil technology in the U.S & Canada and oversupply of crude oil in the global market are the key challenges for crude oil flow improvers market. Additionally, the presence of a large number of crude oil reserves in the region is expected to drive growth of market in the region. Though, removal of approvals on oil & gas industry of Iran is expected to lower the growth of oil & gas business of North America, which in turn limiting the revenue growth of the global crude oil flow improvers market over the forecast period. However, Asia-Pacific region is expected to propagate the fastest growth, registering a CAGR of about 7.1% through 2026.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding crude oil flow improvers market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in crude oil flow improvers market.
Global Crude Oil Flow Improvers Market
Global Crude Oil Flow Improvers Market, by Type:
• Paraffin Inhibitors
• Asphaltene Inhibitors
• Scale Inhibitors
• Drag Reducing Agent
• Hydrate Inhibitors
• Viscosity reducers
• Pour point and pour point depressants.
• Other
Global Crude Oil Flow Improvers Market, by Application:
• Extraction
• Pipeline
• Refinery
Global Crude Oil Flow Improvers Market, by Region:
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Player analyzed in the Report:
• Halliburton Company
• Baker Hughes
• Nalco Champion
• BASF SE
• Schlumberger
• Clariant
• Dorf Ketal
• Lubrizol Specialty Products, Inc.
• Infineum
• Evonik Industries.
• WRT BV
• Production Chemical Group
• Rodanco
• Partow Ideh Pars
• Phillips Specialty Products Inc.
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