Crude oil is one of the most actively traded commodities with a stable growth rate globally. It is extracted from remote locations and needs to be transported through pipelines. Transportation of crude oil via pipeline is relatively difficult, owing to its viscosity and requirement of economical and efficient mode of transferring the oil.
Portland, OR -- (SBWIRE) -- 10/02/2017 -- The Crude Oil Flow Improve Market is driven by the increase in crude oil production globally, to cater to the high demand, and rise in demand for crude oil flow improvers from the developing markets such as Middle East and Africa. Moreover, growth in hydraulic fracturing is expected to increase the demand for crude oil flow improvers.
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.
The market is driven by the increase in crude oil production globally, to cater to the high demand, and rise in demand for crude oil flow improvers from the developing markets such as Middle East and Africa. Moreover, growth in hydraulic fracturing is expected to increase the demand for crude oil flow improvers. However, steady decline in crude oil prices and environmental concerns are expected to hamper the market growth in the near future. Furthermore, the production of crude oil flow improvers from renewable resources is expected to provide a substantial growth opportunity in the near future.
The report highlights various factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players. It presents the quantitative data, in terms of both value and volume, which is obtained from secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others.
Key Findings of the Crude Oil Flow Improvers Market:
- In 2016, North America dominated the global market, with more than half share in the overall market.
- The asphaltene inhibitors segment is estimated to grow at the highest CAGR of 6.3% from 2017 to 2023.
- In 2016, paraffin inhibitor was the leading segment, accounting for more than one-third share in global market.
- The pipeline segment is projected to grow at highest CAGR of 6.2% from 2017 to 2023.
- Asia-Pacific is expected to grow at the highest CAGR of 6.9% during the forecast period.
- U.S. is the leading country in the global market, growing at a CAGR of 5.1% from.
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