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 2027.” The report further mentions that there is 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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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
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.
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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.
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, 2027
- North America Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2027
- Europe Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2027
- Asia Pacific Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2027
- Middle East and Africa Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2027
- Latin America Crude Oil Flow Improvers Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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