Global Crude Oil Flow Improvers Market to Grow at 5% During 2024-2032, Bolstered by Rising Oil and Gas Exploration Activities

December 09, 2021 | Energy & Mining

As per the latest report by IMARC Group, titled “Crude Oil Flow Improvers Market Report by Product (Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Hydrate Inhibitors), Application (Extraction, Transportation, Refinery), and Region 2024-2032,” the global crude oil flow improvers market is expected to grow at a CAGR of 5% during 2024-2032. Crude oil is a highly viscous fluid at ambient temperature that gradually becomes sluggish and thicker when transported over long distances through pipelines. This results in the formation of wax crystals on the pipeline walls from where it is carried, produced, or stored. As a result, crude oil flow improvers are utilized to minimize the pour points and viscosity of crude oil. They are economical and energy-efficient chemical additives that assist in reducing operational costs and improving production performance.

Global Crude Oil Flow Improvers Market Trends:

The market is primarily driven by the rising oil and gas exploration activities due to the increasing demand for energy worldwide. Moreover, as oil and gas reserves are depleting, hydraulic fracturing is gaining traction to reach previously inaccessible oil and gas resources. As a result, governments of numerous countries are supporting hydraulic fracturing through various initiatives to facilitate the development of oil and gas resources. This acts as another major factor contributing to the market growth. Besides this, several manufacturers are developing low-dose hydrate inhibitors to minimize the need for other chemical additives. In addition, they are participating in mergers and acquisitions (M&A) and joint ventures to launch advanced products that can improve the overall productivity of oil wells, reduce rig time and ensure environmental safety. These factors are anticipated to propel market growth in the upcoming years.

Market Summary

  • Based on the product, the market has been classified into paraffin, asphaltene, scale, and hydrate inhibitors.
  • On the basis of the application, the market has been segmented into extraction, transportation, and refinery.
  • Region-wise, the market is segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined,with some of the key players being Baker Hughes Company, BASF SE, Berkshire Hathaway Inc., Clariant International Ltd, Dorf Ketal Chemicals Pvt. Ltd., Ecolab Inc., Evonik Industries AG (RAG-Stiftung), Halliburton Company, Infineum International Limited, Schlumberger Limited, and Thermax Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baker Hughes Company, BASF SE, Berkshire Hathaway Inc., Clariant AG, Dorf Ketal Chemicals Pvt. Ltd., Ecolab Inc., Evonik Industries AG (RAG-Stiftung), Halliburton Company, Infineum International Limited, Schlumberger Limited and Thermax Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Crude Oil Flow Improvers Market to Grow at 5% During 2024-2032, Bolstered by Rising Oil and Gas Exploration Activities
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