PUBLISHER: The Business Research Company | PRODUCT CODE: 1270570
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270570
“Crude Oil Flow Improvers Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on crude oil flow improvers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for crude oil flow improvers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The crude oil flow improvers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the crude oil flow improvers market are Clariant AG, Halliburton Company, BASF SE, Baker Hughes, Nalco Champion, Dorf Ketal, Infineum International Limited, LiquidPower Specialty Products, Flowchem, Innospec Inc., Oil Flux Americas, The Zoranoc Oilfield Chemical, Phillips Specialty Products Inc., Evonik Industries, WRT BV, Production Chemical Group, Rodanco, and Partow Ideh Pars.
The global crude oil flow improvers market is expected to grow from $1.61 billion in 2022 to $1.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crude oil flow improvers market market is expected to grow to $2.14 billion in 2027 at a CAGR of 5.8%.
The crude oil flow improvers market consists of sales of drag reducing agents, and hydrogen sulfide inhibitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The crude oil flow improvers refer to use of tools to preserve the viscosity of crude oil during processing and transportation by crude oil flow improvers. Additionally, it serves as additives that maximize production and provide suitable solutions at every stage of crude oil extraction, from reservoir to refinery. It is used for reducing the energy required for processing, pipeline distribution, surface boosting, and artificial lift of crude oils.
North America was the largest region in the crude oil flow improvers market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crude oil flow improvers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of crude oil flow improvers are paraffin inhibitors, asphaltene inhibitors, scale inhibitors, and hydrate inhibitors. Paraffin Inhibitors refer to chemical processes that alter the size and structure of wax crystals and distribute the paraffin back into the oil to maintain a constant flow. The various applications involved are extraction, transportation, and refinery.
Increasing demand for crude oil is expected to drive the crude oil flow improvers market going forward. A mixture of hydrocarbons known as crude oil is one that is found in naturally occurring subsurface reservoirs in the liquid phase and continues to be liquid at atmospheric pressure after passing through surface-separating equipment. crude oil flow improvers are used to maintain the viscosity of crude oil. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, in 2021 and 2022, respectively, it was estimated that the global oil demand will increase by 5.5 million b/d (barrels per day) and 3.3 million b/d, exceeding its pre-pandemic levels by 200,000 b/d to 99.7 million b/d and defied expectations in the fourth quarter of 2021, increasing by 1.1 million b/d to 99 million b/d, a revision higher of 345,000 b/d from its previous report. Therefore, increasing demand for crude oil is driving the demand for the crude oil flow improvers market.
Technological advancements are a key trend gaining popularity in the crude oil flow improvers market. Major companies in the crude oil flow improvers market are advancing their technologies to strengthen their market position. For instance, in November 2020, Locus Bio-Energy Solutions, a US-based nature-derived chemicals provider introduced Sustain- a biosurfactant treatment line that may sustainably improve the functionality and financial effectiveness of completion fluids. It is the first ESG-friendly solution to perform better than synthetic surfactants in boosting a well's initial production (IP) and predicted ultimate recovery (EUR). The multifunctional solutions can reach even the tightest shale reserves where other treatments can't and can mobilize oil from even the smallest nanopores. Development of this economically feasible completions technology that unlocks residual oil in place and decreases costs in unconventional wells can result in a substantial rise in domestic oil production, leading to sustained, profitable growth.
In March 2020, Block energy, a UK-based oil and gas solution provider acquired Schlumberger's subsidiary Schlumberger Rustaveli Co. Ltd. for an undisclosed amount. This acquisition is a game-changer for Block Energy since it gives the business scale and more production, reserves, and resources. Schlumberger is a US-based supplier for the oil and gas sector with technologies for reservoir characterization, production, drilling, and processing.
The countries covered in the crude oil flow improvers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The crude oil flow improvers market research report is one of a series of new reports from The Business Research Company that provides crude oil flow improvers market statistics, including crude oil flow improvers industry global market size, regional shares, competitors with crude oil flow improvers market share, detailed crude oil flow improvers market segments, market trends, and opportunities, and any further data you may need to thrive in the crude oil flow improvers industry. This crude oil flow improvers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.