Crude Oil Flow Improvers Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
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.

Sizing and Forecast
The crude oil flow improvers market size has grown strongly in recent years. It will grow 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.

The crude oil flow improvers market size is expected to see strong growth in the next few years. It will grow to $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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Segmentation & Regional Insights
The crude oil flow improvers market covered in this report is segmented –

1) By Product: Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Hydrate Inhibitors
2) By Application: Extraction, Transportation, Refinery

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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing demand for crude oil is expected to drive the crude oil flow improvers 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. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, in 2021 and 2022, respectively, it was estimated that the global oil demand will increase by 5.5 million b/d (barrels per day) and 3.3 million b/d, exceeding its pre-pandemic levels by 200,000 b/d to 99.7 million b/d and defied expectations in the fourth quarter of 2021, increasing by 1.1 million b/d to 99 million b/d, a revision higher of 345,000 b/d from its previous report. Therefore, increasing demand for crude oil is driving the demand for the crude oil flow improvers market.

Key Industry Players
Major companies operating in the crude oil flow improvers market report are 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

The crude oil flow improvers market report table of contents includes:

1. Executive Summary

2. Crude Oil Flow Improvers Market Characteristics

3. Crude Oil Flow Improvers Market Trends And Strategies

4. Crude Oil Flow Improvers Market – Macro Economic Scenario

5. Global Crude Oil Flow Improvers Market Size and Growth

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31. Global Crude Oil Flow Improvers Market Competitive Benchmarking

32. Global Crude Oil Flow Improvers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Crude Oil Flow Improvers Market

34. Crude Oil Flow Improvers Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Clariant AG,

Halliburton Company,

BASF SE,

Baker Hughes Company,

Nalco Champion,

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