Crude Oil Flow Improvers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Crude Oil Flow Improvers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global crude oil flow improvers market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2022-2028.

Crude oil is a highly viscous fluid at ambient temperature, which gradually becomes thicker and sluggish when transported long distances through pipelines. This leads to the formation of wax crystals on the pipeline walls from where it is being produced, carried, or stored. As a result, flow improvers are used to minimize the pour points and viscosity of waxy crude oils. They are energy-efficient and economical chemical additives that help reduce operational costs and improve production performance. Presently, manufacturers worldwide are focusing on developing flow improvers with enhanced operational safety and adaptability.

Crude Oil Flow Improvers Market Trends:

Rising oil and gas exploration activities around the world on account of the escalating demand for energy represents one of the key factors impelling the market growth. Moreover, due to depleting oil and gas reserves, hydraulic fracturing is gaining traction to reach previously inaccessible oil and gas resources. Governments of numerous countries are supporting hydraulic fracturing through various initiatives like financial assistance, investment provisions, and tax incentives to facilitate the development of oil and gas resources. This acts as another factor positively influencing the growth of the market. Apart from this, several manufacturers are developing low-dose hydrate inhibitors that substantially minimize the need for other chemical additives. This eliminates the risk associated with hydrate plugs and line blockages, which, in turn, is driving the market. They are also engaging in joint ventures and mergers and acquisitions (M&A) to introduce advanced products that help minimize rig time, improve the overall productivity of oil wells, and ensure environmental safety.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global crude oil flow Improvers market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Breakup by Product:

Paraffin Inhibitors

Asphaltene Inhibitors

Scale Inhibitors

Hydrate Inhibitors



Breakup by Application:

Extraction

Transportation

Refinery



Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. How big is the global crude oil flow improvers market?

2. What is the expected growth rate of the global crude oil flow improvers market during 2023-2028?

3. What are the key factors driving the global crude oil flow improvers market?

4. What has been the impact of COVID-19 on the global crude oil flow improvers market?

5. What is the breakup of the global crude oil flow improvers market based on the product?

6. What is the breakup of the global crude oil flow improvers market based on the application?

7. What are the key regions in the global crude oil flow improvers market?

8. Who are the key players/companies in the global crude oil flow improvers market?