High demand for crude oil across the world is expected to drive the global crude oil flow improvers market growth. However, other non-renewable energy resources are not capable of fulfilling the growing demand. Crude oil is one of the largest energy resources in the world; hence, it becomes essential to use and distribute crude oil in the productive and efficient way. This is a major growth factor in the global market. Crude oil flow improvers are used in the production stage and provide an optimal solution for all the three stages such as extraction, transportation, and refining. This is anticipated to foster the global crude oil flow improvers market in the near future. Crude oil flow improvers are used to enhance the crude oil productivity; this is a major driver for the global market. Conversely, tremendous hike in the crude prices and global recession restraints the global market to some extent.
Crude oil extraction is carried out in remote locations; hence, it is essential to be present on the exact location on time to extract oil. Transportation plays a vital role in transporting crude oil through pipelines in an efficient way. Transportation of the crude oil in the cold region is pretty challenging as it becomes thicker while traveling long distances. However, heavy crude oil faces high viscosity issues. Hence, it is of paramount importance to maintain the proper viscosity of heavy crude oil without compromising the quality. Crude oil flow improvers are emerging as a helping hand for the oil companies; it is an additive that provides suitable solutions from reservoir to refinery and maximizes the production. Drag reducing agents are among them that minimize turbulence and make sure of increased flow rate and throughput within the pipelines.
The global crude oil flow improvers market is classified on the basis of application as a refinery, extraction, market par, and transportation. Based on the type, the global market is categorized as paraffin inhibitors, hydrate inhibitors, drag reducing agents, asphaltene inhibitors, and scale inhibitors.
Global Crude Oil Flow Improvers Market: Competitive Players
Major players in the global crude oil flow improvers market are Baker Hughes, Dorf Ketal, Clariant, Halliburton, and Infineum. Other influencing players in the global market are Nalco Champion, Schlumberger, Lubrizol Specialty Products, Inc., and BASF SE.
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North America is the major consumer of the crude oil flow improvers. The Middle East regions are moving towards gaining highest market share in the near future. In the countries such as India and China, growing urbanization, increasing disposable income, growing purchasing power of the people are some of the factors that are projected to contribute to the growth of the global market in future. However, recent finding of the shale oil technology in Canada and the U.S and oversupply of crude oil is hampering the growth of the global crude oil flow improvers market.
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