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LONDON, GREATER LONDON , UNITED KINGDOM, October 17, 2024 /EINPresswire.com/ -- The crude oil flow improvers market has experienced robust growth in recent years, expanding from $1.73 billion in 2023 to $1.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to high viscosity oil, rise in enhanced oil recovery (eor), demand for cost efficiency, regulatory compliance, growing oil production.
What Is The Estimated Market Size Of The Global Crude Oil Flow Improvers Market And Its Annual Growth Rate?
The crude oil flow improvers global market is projected to continue its strong growth, reaching $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to focus on environmental impact, demand for enhanced pipeline efficiency, increased heavy crude oil production, emerging market demand, rise in unconventional oil extraction, expansion in shale oil production, demand for low dosage solutions. Major trends in the forecast period include focus on offshore oil operations, economic pipeline operations, shift towards eor methods, technological innovations.
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Growth Driver Of The Crude Oil Flow Improvers Market
Increasing demand for crude oil is expected to drive the market going forward. A mixture of hydrocarbons known as crude oil is one that is found in naturally occurring subsurface reservoirs in the liquid phase and continues to be liquid at atmospheric pressure after passing through surface-separating equipment. crude oil flow improvers are used to maintain the viscosity of crude oil.
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Which Market Players Are Driving The Crude Oil Flow Improvers Market Growth?
Key players in the market include Clariant AG, Halliburton Company, BASF SE, Baker Hughes Company, Nalco Champion, Dorf Ketal Chemicals India Private Limited, Infineum International Limited, LiquidPower Specialty Products Inc., Flowchem, Innospec Inc., Oil Flux Americas, The Zoranoc Oilfield Chemical Company, Phillips Specialty Products Inc., Evonik Industries AG, WRT BV, Production Chemical Group, Rodanco, Partow Ideh Pars, Schlumberger Limited, The Lubrizol Corporation, Croda International Plc, AkzoNobel N.V., Arkema S.A., Ecolab Inc., Chemtura Corporation, The Dow Chemical Company, Huntsman Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Niacet Corporation.
What Are The Emerging Trends Shaping The Crude Oil Flow Improvers Market Size?
Major companies operating in the market are innovating new products, such as the PHASETREAT WET, to provide reliable services to customers. PHASETREAT WET is a sustainable demulsification process for the oil and gas industry.
How Is The Global Crude Oil Flow Improvers Market Segmented?
1) By Product: Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Hydrate Inhibitors
2) By Application: Extraction, Transportation, Refinery
Geographical Insights: North America Leading The Crude Oil Flow Improvers Market
North America was the largest region in the crude oil flow improvers market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the global crude oil flow improvers market during the forecast period. The regions covered in the crude oil flow improvers global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Crude Oil Flow Improvers Market Definition
The crude oil flow improvers refer to use of tools to preserve the viscosity of crude oil during processing and transportation by crude oil flow improvers. Additionally, it serves as additives that maximize production and provide suitable solutions at every stage of crude oil extraction, from reservoir to refinery. It is used for reducing the energy required for processing, pipeline distribution, surface boosting, and artificial lift of crude oils.
Crude Oil Flow Improvers Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global crude oil flow improvers market report covering trends, opportunities, strategies, and more
The Crude Oil Flow Improvers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on crude oil flow improvers market size, crude oil flow improvers market drivers and trends, crude oil flow improvers market major players, crude oil flow improvers competitors' revenues, crude oil flow improvers market positioning, and crude oil flow improvers market growth across geographies. The crude oil flow improvers global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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