Crude Oil Flow Improvers Market Study with Prominent Industry Players like Halliburton Company, Baker Hughes, Nalco Champion, BASF SE, Schlumberger, Clariant, Dorf Ketal

Crude oil flow improvers, also known as drag reducing agents, are specifically injected into the pipeline to reduce turbulence. Crude oil is extracted from remote locations and require to be transported to the desired destinations. The demand for crude oil has maintained a stable growth rate during the past few years. Transportation of crude oil via pipeline is relatively difficult specifically in cold regions, owing to its high viscosity. Thus, crude oil flow improvers are widely employed to maintain the viscosity of crude oil for long distance transport without affecting its quality.

According to a new report published by Allied Market Research, titled, Crude Oil Flow Improvers Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global crude oil flow improver market was valued at $1,282 million in 2016, and is estimated to reach $1,920 million by 2023, registering a CAGR of 5.7% from 2017 to 2023. In 2016, the extraction segment accounted for more than one-third share of the total market.

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Segment Review:

The asphaltene inhibitors segment is expected to witness the highest growth rate, registering a CAGR of 6.3% during the forecast period. Furthermore, in 2016, the paraffin inhibitors segment accounted for more than one-third of the total market share. Paraffin inhibitors are used to minimize or prevent paraffin deposition. Paraffin compounds in crude oil can damage plug production and transport equipment. It also causes poor flowability or lead to flow-restricting deposits. The pipeline segment is expected to witness the highest growth rate, registering a CAGR of 6.2% during the forecast period.

Top Investment in Pockets:

North America is expected to be the most significant market for crude oil flow improver from 2017 to 2023. U.S. dominated the North America crude oil flow improver market in 2016. North America witnessed the highest demand for crude oil flow improver, owing to the increase in adoption of nontraditional oil extraction techniques, such as hydraulic fracturing and horizontal drilling, which increases the need for flow improvers to reduce viscosity of oil and to improve the movement through pipes. In addition, Asia-Pacific is expected to witness the highest CAGR of 6.9% during the forecast period.

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This report provides an extensive analysis of the current and emerging market trends & dynamics of the global crude oil flow improvers market. The crude oil flow improvers market trend analysis for all the regions is provided by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities. The report assists to understand the strategies adopted by the leading companies in the industry. It evaluates competitive landscape of the crude oil flow improvers industry to understand the market scenario globally. Extensive analysis is conducted by key player positioning and monitoring the top competitors within the global market.

Increase in global crude oil production and rise in demand for crude oil flow improvers from the developing markets, such as Middle East and Africa, are the major drivers for global crude oil flow improver market.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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