How Has The Crude Oil Flow Improvers Market Size Evolved In Recent Years?
The crude oil flow improvers market has seen considerable growth due to a variety of factors.
• In previous periods, the market size for crude oil flow improvers has shown significant expansion. It is expected to surge from $1.83 billion in 2024 to $1.95 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.8%. This historical growth can be credited to factors such as the prevalence of high viscosity oil, an increase in enhanced oil recovery (EOR), the necessity for cost efficiency, adherence to regulations, and a boost in oil production.
What Is The Projected Growth Of The Crude Oil Flow Improvers Market?
The Crude Oil Flow Improvers market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next couple of years, a robust increase in the market size of crude oil flow improvers is anticipated, growing to $2.52 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%.
This growth for the projected period can be credited to factors such as a concentration on environmental impacts, the need for improved pipeline efficiency, increased production of heavy crude oil, rising demand in emerging markets, an increase in unconventional oil extraction methods, expansion in shale oil production, and a preference for low dosage solutions. Key trends within this forecast period include a focus on offshore oil operations, economical pipeline operations, a shift towards Enhanced Oil Recovery (EOR) methods, and technological breakthroughs.
What Are The Key Drivers Fueling Growth In The Crude Oil Flow Improvers Market?
The expectation of a surge in crude oil demand will likely propel the growth of the crude oil flow improvers market. Crude oil, a cocktail of hydrocarbons, naturally resides in subterranean reservoirs as a liquid and maintains its liquid state even when subjected to surface-separation equipment in atmospheric pressure. Crude oil flow improvers play a crucial role in managing the viscosity of this oil. For example, the US Energy Information Administration, a US federal agency responsible for collecting, processing, and distributing energy information, reported in October 2023 that U.S. crude oil production has increased to 12.4 million b/d in 2023, up from its previous record of 11.7 million b/d in 2022. Consequently, the rising demand for crude oil fuels the need for the crude oil flow improvers market.
What Are The Principal Market Segments In The Global Crude Oil Flow Improvers Industry?
The crude oil flow improvers market covered in this report is segmented –
1) By Product: Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Hydrate Inhibitors
2) By Application: Extraction, Transportation, Refinery
Subsegments:
1) By Paraffin Inhibitors: Ethylene Vinyl Acetate (EVA) Copolymers, Polymers And Surfactants
2) By Asphaltene Inhibitors: Solvent-Based Inhibitors, Surfactant-Based Inhibitors
3) By Scale Inhibitors: Phosphate-Based Inhibitors, Polyacrylate-Based Inhibitors
4) By Hydrate Inhibitors: Methanol, Glycol, Anti-Hydrate Surfactants
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Which Emerging Market Trends Are Altering The Crude Oil Flow Improvers Industry?
Companies majoring in the crude oil flow improvers sector are introducing innovative products like the PHASETREAT WET to offer reliable services to their clients. PHASETREAT WET is an eco-friendly demulsification method tailored for the oil and gas sector. As an illustration, in January 2023, PHASETREAT WET was launched by Clariant AG, a chemical enterprise headquartered in Switzerland. As a demulsification technique, PHASETREAT WET slashes the dosage of demulsifiers by as much as 75% in comparison to existing solutions, thereby streamlining operations both onshore and offshore. It's poised to tackle the inherent issues linked with conventional oil extraction processes.
Who Are the Key Players In The Crude Oil Flow Improvers Market?
Major companies operating in the crude oil flow improvers market include:
• Clariant AG
• Halliburton Company
• BASF SE
• Baker Hughes Company
• Nalco Champion
• Dorf Ketal Chemicals India Private Limited
• Infineum International Limited
• LiquidPower Specialty Products Inc.
• Flowchem
• Innospec Inc.
• Oil Flux Americas
• The Zoranoc Oilfield Chemical Company
• Phillips Specialty Products Inc.
• Evonik Industries AG
• WRT BV
• Production Chemical Group
• Rodanco
• Partow Ideh Pars
• Schlumberger Limited
• The Lubrizol Corporation
• Croda International PLC
• AkzoNobel N.V.
• Arkema S.A.
• Ecolab Inc.
• Chemtura Corporation
• The Dow Chemical Company
• Huntsman Corporation
• Chevron Oronite Company LLC
• Afton Chemical Corporation
• Niacet Corporation
What Are The Regional Insights Into The Crude Oil Flow Improvers Market?
North America was the largest region in the crude oil flow improvers market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the global crude oil flow improvers market during 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, Africa.
