May 24, 2021   SOURCE: BusinessWire

Insights on the Crude Oil Flow Improvers Global Market to 2026 - Featuring Ashland, Baker Hughes and BASF Among Others - ResearchAndMarkets.com

The "Crude Oil Flow Improvers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The market for crude oil flow improvers is expected to grow at a CAGR of about 5% globally during the forecast period.

Companies Mentioned

  • Alberta Treating Chemicals Limited
  • Ashland
  • Baker Hughes
  • BASF SE
  • Croda International Plc
  • Dorf Ketal
  • Dow
  • Halliburton
  • Innospec
  • Oil Flux
  • PRODUCTION CHEMICAL GROUP
  • Schlumberger Limited
  • The Zoranoc Oilfield Chemical

Key Market Trends

Growing Demand for Paraffin & Asphaltene Inhibitors

  • Crude oil flow improvers are widely used in oil & gas industries and are expected to grow rapidly during the forecast period.
  • Paraffins made of long-chain hydrocarbons, naturally occur in crude oil inhibit the free flow of crude oil thereby increasing power consumption, decreasing the efficiency of pumps, and their lifetime. Paraffin inhibitors help in preventing the deposition of wax on the surface on pipelines, wellbores, and during processing. They alter the wax appearance temperature thereby improving flow and are often referred to as pourpoint dispersants or cold flow improves.
  • Asphaltene occurs in heavy crude oils. The changes in pressure and temperature during extraction or transportation in a pipeline make the existing asphaltenes (tar) to precipitate into black rock type deposits which affects the flow by creating a choke point. Asphaltene inhibitors help in preventing agglomeration and precipitation of asphaltenes in the pipelines.
  • Crude oil flow improvers help in the free-flowing of crude oil products, asphalt-crude, and multiphase systems. The global petroleum and other petroleum-based liquids consumption are at 100.75 million barrels per day in 2019 from 99.97 million barrels per day in 2018, which shows an increase of about 284.7 million barrels per year and is expected to grow during the forecast period.
  • However, due to unprecedented conditions arisen due to the COVID-19 outbreak the consumption of oil & gas will be down by at least 5 million barrels per day due to lockdown in various countries and shut down of travel, tourism, e-commerce, and restaurants are likely to affect the consumption in 2020.
  • The growing urbanization and increasing demand for crude oil-based products are expected to drive the market for the crude oil flow improvers during the forecast period.

Middle-East Region to Dominate the Market

  • The Middle-East region is expected to dominate the market for crude oil flow improvers during the forecast period due to an increase in demand from countries like Saudi Arabia, Iraq, and the United Arab Emirates.
  • Crude oil contains long-chain hydrocarbons that decrease the pressure drop for the same flow rate and thereby increase the pipeline flow using the same amount of energy. Crude oil flow improvers include drag-reducing agents, scale, paraffin, asphaltene, hydrate, biocide, hydrogen sulfide, iron sulfide, foam inhibitors, etc., which improve flow efficiency.
  • Saudi Arabia is the second-largest producer of crude oil in the world after the United States and has the second-largest crude oil reserves after Venezuela. As per the Organization of Petroleum Exporting Countries (OPEC), 64.5% of the OPEC crude oil reserves which account for 79.6% of total world reserves are present in the Middle-East region.
  • In 2019, Saudi Arabia oil production is at 11.79 million barrels per day, Iraq is at 4.75 million barrels per day, and the United Arab Emirates is around 3.99 million barrels per day. The growing use of crude oil-based final products in energy generation, automobiles, industries, etc., is expected to drive the market.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for crude oil flow improvers market in the Middle-East during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Demand For Paraffin & Asphaltene Inhibitors

4.1.2 Increasing Demand for Petroleum Based Products

4.2 Restraints

4.2.1 Stringent Environmental Regulations

4.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak

4.3 Industry Value Chain Analysis

4.4 Porters Five Forces Analysis

5 MARKET SEGMENTATION

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Growing Demand from Emerging Economies

For more information about this report visit https://www.researchandmarkets.com/r/gjllsb