The global crude oil flow improvers market is projected to gain impetus from a rise in the transportation of oil and gas. This information is published in an upcoming report by Fortune Business Insights, titled, “Crude Oil Flow Improvers Market Size, Share and Global Trend By Type (Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Drag Reducing Agent, Hydrate Inhibitors), By Application (Extraction, Pipeline, Refinery) and Geography Forecast till 2026.” The report further mentions that there is a growing consumption of oil and gas around the world. Additionally, the growth of hydraulic fracturing will accelerate the crude oil flow improvers market growth during the forthcoming years.
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Highlights of the Report
- An objective evaluation of the trajectory of the market.
- In-depth information about the crude oil flow improvers market trends, growth drivers, obstacles, consumer behavior, and other related challenges.
- Notable transformation in the market dynamics.
- Regulations, mandates, micro, and macro-economic indicators.
- Country-level analysis with respect to future prospective and current market size.
Need to Maintain Viscosity of Crude Oil to Increase Demand in Europe
The crude oil flow improvers market is geographically classified on the bases of Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Out of these regions, North America is exhibiting high demand for the product owing to the increasing production and exploration activities of gas and oil. Often, crude oil production sites are situated in remote locations. The oil has to be transported to various other regions. For hassle-free transportation, the demand for crude oil flow improvers would rise in this region.
In Europe, the climatic condition is very challenging. Major crude oil-producing countries, namely, Russia, the U.K., and Norway exhibit minus temperature. Hence, it is extremely difficult to retain the viscosity of crude oil. Therefore, it is vital to add a drag-reducing agent in the pipeline to transport the crude oil-based products over a longer distance as well as to enhance the flow. All these factors would fuel the crude oil flow improvers market size in this region.
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Key Market Driver – Growth in exploration and production of crude oil and an increase in demand for hydrocarbon
Key Market Restraint – Volatile prices of crude oil and environmental concerns
Asia Pacific, on the other hand, has been persistently observing immense growth in the consumption of crude oil-based products. It has been occurring as emerging nations, such as India and China possess a large number of consumers. For efficient and effective transportation, the pipeline is one of the most suitable options that is anticipated to augment the market in this region. In the Middle East and Africa, countries, namely, Qatar, Oman, Kuwait, and Saudi Arabia are some of the leading producers of gas and crude oil. These regions are also exporters of the major portion of their production. It will also affect market growth in the coming years.
Key Industry Developments
- In January 2019, The Indian Government cleared the expansion of Numaligarh refinery from 3 million tonnes per annum (MTPA) to 9MPTA. The project will be completed in four years at an investment of Rs. 22,594 crores.
- In May 2015, In association with mineral oil and additive industry and Association Quality Management Biodiesel has launched a test for flow improvers for use in fatty acid methyl ester (FAME) as a fuel component.
Key Industry Developments
Numerous reputable companies present in the market are aiming to focus on bagging new contracts to create a strong brand presence and gain a higher crude oil flow improvers market share. They are investing huge sums in the research and development activities to improve the technologies and provide better facilities for their clients. Below are a couple of the most recent industry developments:
- January 2019: The Cabinet Committee on Economic Affairs declared that it has approved the expansion plan of the Numaligarh refinery of Bharat Petroleum Corporation (BPCL) to 9 million tonnes per annum from the current 3 million tonnes per annum. The project is assumed to be done in the next four years. It will fulfill all the refining requirements of the North East region. The expansion also includes installing product pipelines from Siliguri to Numaligarh and the crude oil pipeline from Numaligarh to Paradip.
- May 2015: Association Quality Management Biodiesel (AGQM) recently collaborated with additives and mineral oil industry to unveil a test procedure. It will ensure and monitor the interaction-free additivation of biodiesel with flow improvers (BDFI). This test includes two parts. One consists of minimum requirements, such as decreasing the flashpoint, ash content, cold filter plugging point (CFPP), total interaction and contamination tests with the other BDFI. On the other hand, it consists of tests in a B10 fuel.
Fortune Business Insights lists down some of the prominent companies operating in the crude oil flow improvers market. They are as follows:
- The Lubrizol Corporation
- Qingdao Zoranoc Oilfield Chemical Co. Ltd.
- Nalco Champion, An Ecolab Company
- Baker Hughes, a GE company
- Production Chemical Group
- LiquidPower Specialty Products, Inc.
- Dorf Ketal
- Innospec, Inc.
- WRT BV
Major Table of Content For Crude Oil Flow Improvers Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- North America Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- Europe Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- Asia Pacific Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- Latin America Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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