San Francisco, 20
November 2018: The 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.
Access Research Report
of Crude Oil Flow
Improvers Market @ www.grandviewresearch.com/industry-analysis/crude-oil-flow-improvers-cofi-market
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.
Browse more reports of this category by Grand View
Research at: 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
·
Europe
·
Asia Pacific
·
Central & South America (CSA)
·
Middle East & Africa
Access Press Release of
Crude Oil Flow Improvers Market@ 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.