Rising Disposable Income to Drive Crude Oil Flow Improvers Market
Crude oil is regarded as one of the most actively traded commodities, witnessing stable growth rate all across the globe. It is generally extracted from remote locations and requires transportation though pipelines. Transportation of crude oil using pipeline is relatively difficult due to the viscosity of the oil and the requirement of economical and efficient mode of transportation of crude oil. Hence, the control over viscosity of the heavy oil is vital for long distance transport without any effect on quality or the state. The global crude oil flow improvers are known to maintain the viscosity of the crude oil during the processing as well as the transportation of the same.
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Apart from that, crude oil flow improvers are known to act as additives which deliver apt solutions in all stages of crude oil extraction, ranging from extraction from the reservoir to the refinery and maximizing the production of the same. These crude oil flow improvers are also expected to drag reducing agents, which are injected into the pipeline fluids and reduce the turbulence. Moreover, these improvers are deployed on a vast scale among oil pipelines to increase the flow capacity and reduce the energy loss in these pipelines. Various market experts study the global crude oil flow improvers market and expected to take on a notable growth trajectory over the forecast period.
The rising crude oil production primarily drives the market all over the globe. This rising production of crude oil is highly driven due to the ever-growing demand for energy worldwide. An ascension in the demand for crude oil flow improvers from the developing countries such as the Middle East and Africa is also contributing to the global market. Moreover, growth noted in the hydraulic fracturing is expected to witness fast growth, raising the demand for crude oil flow improvers. However, a steady decline in the crude oil prices and the environmental concerns are also expected to restrain the market growth over the conjecture period. Further, the production of crude oil flow improvers from renewable resources is expected to provide a substantial growth opportunity in the coming years.
The crude oil flow improvers market is studied for various segments that are based on type, application, and region. Based on type, the global crude oil flow improvers market is segmented into Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, and Hydrate Inhibitors. Based on application, the global crude oil flow improvers market is segmented into Extraction, Pipeline, and Refinery.
Detailed Regional Analysis
The crude oil flow improvers market is studied for various regional segments to gain a detailed insight in the market landscape and aid in better decision-making. The regions studied in the report include North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among these regional segments, the global crude oil flow improvers market is spearheaded by North America, with Asia Pacific witnessing highest CAGR owing to the rising disposable income and growth in urbanization.
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