Report Overview

The Global Crude Oil Flow Improvers market was worth US$ 1,708 million in 2021. This market is expected to grow at a CAGR of 5.5% between 2023-2032. Demand for these products is expected to rise due to the increasing acceptance of horizontal drilling techniques and hydraulic fracturing. This market is also driven by the demand for specialty products that enhance fluid drift in different stages of the petroleum value chain.

Global Crude Oil Flow Improvers Market Analysis

Product Analysis

In 2021, the paraffin inhibitors product segment was the largest. Paraffin inhibitors are polymers with a high-molecular weight. They react with petroleum liquids that contain paraffin to reduce the formation of wax crystals and their size, adhesion characteristics, shape, and other properties. These agents inhibit paraffin deposition in the system by establishing repulsion both between the pipe surface, and paraffin particles.

Asphaltene inhibitors will experience the fastest growth rate over the forecast period. The forecast period will see this segment grow at a 6.1% CAGR. Its increasing use in the upstream, as well as offshore petroleum operations, is responsible for this segment’s growth. They prevent blockages in the flow lines and maximize production. They are used to preserve subsea assets, such as flow lines and wells.

Because of their environmental benefits, low-dose hydrolyze inhibitors are increasingly being developed by companies. These products offer many benefits, including the fact that you can use them without the need for additional chemical additives. Conventional hydrate inhibitors were very dependent on other additives. This eliminates the risks associated with hydrate blockages and hydrate plugs, which in turn drives the demand to improve crude oil flow.

Application Analysis

Extraction was a popular and fast-growing market for 2021. Due to its ability to extract hydrocarbons at the most economical cost, and to minimize the impact on the environment, the crude oil flow adjusters market will continue to grow. This market is being driven by an increase in global hydrocarbon production and hydraulic fracturing operations from unconventional sources.

Refinery applications held a significant revenue share in 2021. It is important to preserve the integrity and increase the demand for refined petroleum products like gasoline, diesel, naphtha, and lube-base stocks to control product utilization in the refinery sector during the prediction period.

Many stages of petroleum production call for the addition of large quantities of flow improvers. Some major OPEC nations, such as Iran, Saudi Arabia, and Iraq, have increased production to maintain their market position.

Drag-reducing additives are chemical additives that are added to pipelines in order to reduce the amount of turbulence, and the possibility of corrosion. The additive interacts directly with the fluids and reduces oil contact between the pipeline walls and the fluids. This allows crude oil to flow through low-pressure areas cost-effectively while conserving energy.

Key Market Segments

By Product

• Asphaltene Inhibitors
• Paraffin Inhibitors
• Hydrate Inhibitors
• Scale Inhibitors

By Application

• Transportation
• Extraction
• Refinery

Market Dynamics

North America had the highest demand. This was due to the increase in unconventional methods such as horizontal drilling and hydraulic fracturing. There has been an increase in the need for drift enhancement additives to lower the viscosity of petroleum fluids and improve their movement through pipes.

Oversupply of crude oils worldwide and various geopolitical issues have led to a global slump in spot prices. The U.S. has made substantial investments in unconventional types of drilling. The United States cannot afford to decrease its production because it would cause a drop in the prices of finished products.

Europe is a place with huge potential for growth due to its exploration activities. The market for crude oil flow-improvers is also expected to profit from the Middle East’s ongoing activities, which will increase production.

Products manufacturing companies place a high priority on minimizing rig times, improving oil well productivity, and ensuring environmental sensitivity. There are many opportunities for growth in the global oil industry through new joint ventures, acquisitions, and mergers of existing players.

This industry plays a crucial role in establishing regulatory standards. The industry’s regulatory framework is constantly changing. This concern affects all players in the value chain. These chemicals must be disposed of according to a number of guidelines. This provides market players with guidance on the licenses, guidelines, restrictions, or orders to follow during the use of these products.

Regional Analysis

North America accounted for the largest revenue share of 35% in 2021. The vast majority of investments are made to expand into emerging markets in North America, Asia Pacific, the Middle East & Africa. Multinational companies plan to increase their global presence in lucrative markets and take advantage of factors such as low labor costs and availability of resources, along with liberal environmental norms.

Asia Pacific crude oil flow improvements industry is the fastest-growing in terms of revenue. Forecasts show that the region’s market will grow at an annual CAGR of 6%. This market’s growth is primarily due to the growing number of exploration activities.

Because of its demand in the region’s upstream sector, the Middle East & Africa is expected to grow moderately during the forecast period. To address the fluid flow issues that are related to offshore extraction of hydrocarbon, there have been several offshore contracts. This is why the COFI market has a stronghold and will continue to grow.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Some of the industry’s major players are BASF, Halliburton, Schlumberger, and Nalco. Due to the presence of numerous multinationals with a long history of pioneering in the manufacture and supply of oilfield chemicals across various industry value chains, the global COFI market has become highly competitive.

By supplying raw materials and manufacturing the finished products, the companies integrate throughout the value chain. This reduces the overall cost of purchasing raw materials from small businesses. The companies can integrate across the value chain to increase their profit margins and attain optimum economies. This will ensure that the industry’s products are sustainable.

The demand for flow-improvers in operations such as transportation, extraction, and refining is increasing. Major players have begun to increase their product portfolios and global footprint through mergers and acquisitions to reach a wider sector and gain more market share.

Маrkеt Кеу Рlауеrѕ:

• BASF SE
• Schlumberger Ltd.
• Halliburton Corp.
• The Lubrizol Company
• Nalco Ltd.
• Evonik Industries AG
• Clariant AG
• Other Key Players

For the Crude Oil Flow Improvers Market research study, the following years have been considered to estimate the market size: