A recent report published by QMI on Crude Oil Flow Improvers market is a detailed assessment of the most important market dynamics. After carrying out thorough research of crude oil flow improvers market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for crude oil flow improvers during the forecast period. It can enable manufacturers of crude oil flow improvers to change their production and marketing strategies in order to envisage maximum growth.
According to the report, an increasing demand for crude oil across the world is expected to drive the growth of the Global Crude Oil Flow Improvers Market during the forecast period. This has resulted some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.
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Understanding the significance of crude oil flow improvers-
Crude oil extraction is carried out in remote locations and needs to be done carefully. Transportation plays a vital role in transporting crude oil through pipelines in an efficient way. It is quite challenging to transport crude oil in the cold region as it gets thicker while traveling long distances. However, heavy crude oil faces high viscosity issues. Hence maintaining the proper viscosity of heavy crude oil without compromising the quality is of paramount importance. Crude oil flow improvers are emerging as an aiding hand for oil companies. It’s an additive that provides the refinery with appropriate solutions from the reservoir and maximizes production. Among these are drag reducing agents which minimize turbulence and ensure increased flow rate and throughout within the pipelines.
Segmentation for better understanding of this market and its growth prospects
The 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 incapable of satisfying 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 a productive and efficient way. This factor is responsible for major growth in the global market. In the manufacturing phase, crude oil flow improvers are used and provide an ideal solution for all three phases such as extraction, transport, and refining. This is expected to promote the improvers market in the crude oil flow industry around the world in the near future. Crude oil flow improvers are used to boost crude oil productivity, which is a big driver for the global market. Although, a tremendous hike in crude prices and global recession somewhat restrains the global market.
Based on type, the paraffin inhibitors are expected to account for the largest market share. Paraffin waxes are a major component of oil production and by blocking the casings and oil pipelines, particularly at low temperatures, cause operational challenges. Therefore, to avoid the deposition of paraffin waxes, paraffin inhibitors are used in oil production processes and pipeline transportation of crude oil.
Based on the application, the extraction application is expected to account for the largest market share, in terms of both volume and value, given the large number of oil wells worldwide and the high volumetric consumption in the extraction method of this product.
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Significant Factors Impacting Market Growth:
o Increasing demand for crude oil across the world
o They boost the productivity of crude oil
o Hike in the crude prices
Important Development:
o In February 2019, Halliburton Company (US), announced it will build the first oilfield chemical manufacturing reaction plant in Saudi Arabia. Halliburton will start local manufacturing of specialty chemicals after completion of the plant in 2020 to help customers achieve production and reliability goals in applications from the reservoir to the refinery.
Insights about regional distribution of market:
Based on region, the global crude oil flow improvers market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America is expected to hold the major share of the crude oil flow improvers market. The Middle East regions are moving towards gaining the highest market share in the near future. In countries such as India and China, growing urbanization, increasing disposable income, the growing purchasing power of the people are some of the factors that are projected to contribute to the growth of the global market in the future. Recent findings of the shale oil technology in Canada and the U.S. and oversupply of crude oil, however, hamper the development of the market for the worldwide crude oil flow improvers.
Companies Covered: Halliburton, Nalco Champion, BASF SE, Schlumberger, Infineum, Evonik Industries, WRT BV, Clariant, LiquidPower Specialty Products, Flowchem, Baker Hughes, Innospec, Oil Flux Americas, The Zoranoc Oilfield Chemical, CNPC
Market Segmentation:
By Type:
o Medical Oxygen
o Medical Nitrous Oxide
o Medical Helium
o Medical Air
o Medical Carbon Dioxide
o Medical Nitrogen
o Others
o
By Capacity:
o 5L
o 10L
o 50L
o Others
By Application:
o Hospitals
o Nursing Homes
o Home Healthcare
o Research Institutions
o Pharmaceutical Industry
o Biotechnology Industry
o Others
o
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Capacity
o By Application
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Capacity
o By Application
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Capacity
o By Application
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Capacity
o By Application
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Capacity
o By Application
o Rest of the World
o By Region (South America, Africa)
o By Type
o By Capacity
o By Application
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