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Fossil fuel is the primary source of energy in the world’s energy need. In this, the crude oil is very essential in different segments of the industry. Rapid economic development and growth in aviation, automotive, and power generation industries have increased the demand for crude oil. Thus to meet the massive demand for crude oil, the oil-rich nations increased the exploration and production activities.
In most of the cases, these plants are situated in remote areas where is it necessary to transport extracted oil to the appropriate destination. Crude oil has to be transported over long distance and pipeline is the most suitable and efficient way to transport crude oil. In Europe and North America, the weather conditions are quite challenging and transporting from the cold region is a very difficult task.
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Thus it is necessary to maintain the viscosity and temperature of the crude oil so that it can be transported over long distance without any disturbance in the properties of the crude oil. To achieve smooth flow of crude oil different types of drag-reducing agents are added which helps the crude oil transportation to an appropriate destination.
Crude oil flow improvers market is classified into type and application. By type category is further segmented into paraffin inhibitors, asphaltene inhibitors, scale inhibitors, drag-reducing agent, and hydrate inhibitors. Asphaltene inhibitor is majorly used in most of the hydrocarbon products to improve the flow of the crude oil followed by scale inhibitors.
Crude oil flow improvers find its application in extraction, pipeline, and refinery. Extraction and pipeline segment share a major portion of the market as increasing extraction of oil and gas in addition to the pipeline transport of oil over a long distance.
Crude oil is the primary source of energy around the world and to meet this massive demand for continuous exploration and production activities happening. But these plants are located in remote areas and to transport it at refining units, crude oil flow improver is added.
Thus growing consumption in different parts of the world and increased transportation of oil and gas is expected to accelerate the growth of the crude oil flow improvers market.
The growth of the crude oil flow improvers market is hampered due to the volatile prices of the crude oil and the environmental concern related to drag-reducing agents used to improve the flow of oil and gas. Also, the shifting trend towards renewable energy to mitigate the GHG emission will slow down oil and gas market which certainly make an impact on demand for crude oil flow improvers.
The major companies in the crude oil flow improvers are Halliburton, Schlumberger, Nalco Champion, An Ecolab Company, BASF, Infineum, Baker Hughes, a GE company, WRT BV, LiquidPower Specialty Products Inc., The Lubrizol Corporation, Innospec Inc., Qingdao Zoranoc Oilfield Chemical Co.Ltd, Production Chemical Group, Clariant, Dorf Ketal,
· Paraffin Inhibitors
· Asphaltene Inhibitors
· Scale Inhibitors
· Drag Reducing Agent
· Hydrate Inhibitors
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The crude oil flow improvers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The demand for crude oil flow improver in North America seems to be high owing to the growing exploration and production of oil and gas. In most of the cases, the crude oil production sites are located in remote areas and it is necessary to transport in various region. Continuous exploration and production of crude oil have increased the demand for crude oil flow improvers for efficient transportation of crude oil across various part of North America. The weather condition in Europe is quite challenging as the major countries in the production of oil and gas Norway, UK, Russia where the temperature goes in minus. In this, it is quite difficult to maintain the viscosity of the crude oil. Thus to transport the crude oil products over a long distance it is very important to add drag reducing agent in the pipeline for an efficient flow which expected to increase the growth of the crude oil flow improvers in Europe. The Asia Pacific has been seeing continuous growth in the consumption of crude oil products as major countries such as China and India are playing a significant role in the consumption of crude oil. For effective and efficient transportation, the pipeline is the best option which expected to accelerate the growth of the crude oil flow improvers in the Asia Pacific. In MEA Saudi Arabia, Kuwait, Oman, Qatar, etc. are major countries in the production of oil and gas. Most of the countries in this region export the major portion of their production to various countries which improve the growth of the crude oil flow improvers in MEA.
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