In new research by Research and Markets, the global crude oil flow improvers market was valued at US$1282 million in 2016 and is expected to grow at a CAGR of 5.7% to reach US$1920 million by 2023.
The 'Crude Oil Flow Improvers Market by Type - Global Opportunity Analysis and Industry Forecast, 2017 - 2023' report has been added to Research and Markets' offering.
Crude oil flow improvers function as additive that provides suitable solution during crude oil extraction processes and maximise the production.
Viscosity of heavy crude oil is crucial for long distance transport to maintain its quality or state. Crude oil flow improvers enable reduction in viscosity of oil for processing and transport, thereby improving production performance and reducing operational costs. It is extracted from remote locations; hence, it is essential to transport extracted oil to appropriate destinations through pipelines, which is the most preferred and efficient way. High viscosity of heavy crude oil and its transportation specifically in cold regions is quite challenging as it becomes thicker with the decrease in temperature. Thus, crude oil flow improvers are widely used to control viscosity, reduce the turbulence, and increase the flow rate inside the pipelines.
The global crude oil flow improver market is segmented based on type, application, and geography. On the basis of type, it is divided as paraffin inhibitors, asphaltene inhibitors, scale inhibitors, and hydrate inhibitors. On the basis of application, it is categorised into extraction, pipeline, and refinery. Geographically, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Companies mentioned are:
- Halliburton Company.
- Baker Hughes.
- Nalco Champion.
- Basf Se.
- Dorf Ketal.
- Lubrizol Specialty Products, Inc.
- Evonik Industries.
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Read the article online at: https://www.worldpipelines.com/business-news/07082017/crude-oil-flow-improvers-market-to-grow/