Global Crude Oil Flow Improvers Market is expected
to reach USD 2.03 billion by 2025,
according to a new report by Grand View Research, Inc. The market is estimated
to grow significantly over the forecast period owing to shale revolution
positively affecting the COFI market. Despite several existing rigs being
decommissioned over the last few years, the industry has witnessed an increase
in the overall petroleum production. This has given an impetus to the need for
utilization of these chemicals in the upstream extraction sector.
The
existence and expansion of product pipelines have encouraged the utilization of
these products to improve the productivity, minimize the throughput time and
eliminate the bottlenecks during the various operations across the oil and gas
value chain.
Asphaltene
inhibitors are anticipated to be the fastest growing segment over the upcoming
years and is projected to grow at a CAGR of 6.3% from 2017 to 2025. These products
help to reduce the precipitation of asphaltenes, preserve the asset integrity
of the flow lines and optimize the operations over the forecast period. The
utility of these chemicals is predominant in the extraction and pipeline
segments. The problems associated with the extraction and transportation of
asphaltenic crude include pipeline deposition and wellbore plugging. These
unwanted bottlenecks result in the increase in the demand for these products
globally.
Paraffin
inhibitors is expected to be the largest product segment. Paraffin content in
crude oil can damage transport equipment. It helps in eradicating the effects
of wax deposition during petroleum extraction, refining, and transportation.
Full Research report on Global Crude Oil
Flow Improvers Market Analysis:
Further key findings from the report
suggest:
- The global COFI market
is estimated to grow at a CAGR of 5.6% from 2017 to 2025
- Extraction is projected to
emerge as the fastest application segment, predicted to grow at a CAGR of
6% from 2017 to 2025
- Refinery application segment
in Russia accounting for 24% in 2016 and is expected to witness a similar
consumption trend over the forecast period
- Asia Pacific accounted for
over 14% of the global revenue in 2016 and is projected to grow at a CAGR
of 6.3% from 2017 to 2025
- UK asphaltene inhibitor was
valued at USD 10.3 million in 2016 and is projected to grow at a CAGR of
5% over the projected period
- Central & South American
crude oil flow improvers market was valued at USD 104.9 million in 2016
and is anticipated to grow at a stable rate over the upcoming years
- Major companies actively
operating in the industry in the present scenario would include BASF,
Halliburton, Schlumberger, Nalco, and Baker Huges.
View more reports of this category by
Grand View Research at: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the
Global Crude Oil Flow Improvers (COFI) Market on the basis of application:
Crude Oil Flow Improvers Product Outlook
(Revenue, USD Million, 2014 - 2025)
- Paraffin Inhibitors
- Asphaltene Inhibitors
- Scale Inhibitors
- Hydrate Inhibitors
Crude Oil Flow Improvers Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Extraction
- Transportation
- Refinery
Crude Oil Flow Improvers Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Russia
- Norway
- Asia Pacific
- China
- India
- Indonesia
- Central & South America
(CSA)
- Brazil
- Argentina
- Venezuela
- Middle East & Africa
- Saudi Arabia
- UAE
- Algeria
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-crude-oil-flow-improvers-cofi-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
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