Global Crude Oil Flow Improvers Market to Surpass US$ 3,576.4 Million by 2027 – Coherent Market Insights

SEATTLE, April 19, 2019 (GLOBE NEWSWIRE) -- The global crude oil flow improvers market was valued at US$ 2,500.7 million in 2018, and is projected to exhibit a CAGR of 4.2% over the forecast period (2019–2027).

Key Trends and Analysis of the Crude Oil Flow Improvers Market:

Increasing oil exploration and production activities in deep water is fueling growth of the crude oil flow improvers market. According to the U.S. Energy Information Administration (EIA), in 2016, Brazil accounted for the largest share of the global deep water crude oil production (32%). Moreover, the deep water crude oil production is Brazil is expected to reach around 3.7 million barrels per day by 2040 from about 1.65 million barrels per day in 2015.

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Furthermore, increasing demand for oil across the globe is another factor propelling growth of the global crude oil flow improvers market. Two countries with the largest population in the world (India and China) do not produce enough energy and rely on imports. The Middle East caters to around 50% of China’s crude oil demand. According to the Government of India, India imported 109.09 million tons of crude oil from 10 Middle East nations in 2015-16 fiscal year, which was 59% of the total oil imports of the country.

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Key Market Takeaways:

  • The global crude oil flow improvers market is expected to exhibit a CAGR of 4.2% during the forecast period (2019–2027)
  • North America accounted for the largest market share in the global crude oil flow improvers market in 2018. According to EIA, the U.S. is expected to add 90 kb/d of crude distillation capacity at existing refineries owned by Valero, Exxon Mobil, and Flint Hills Resources to allow the refineries to process more domestic light crude by 2019. This is further expected to propel demand for crude oil flow improvers in this region.
  • Major players operating in the global crude oil flow improvers market include, Halliburton Company, BASF SE, LiquidPower Specialty Products Inc., Schlumberger Ltd., Baker Hughes, A GE Company, Nalco Champion, Clariant AG, Evonik Industries AG, Infineum International Limited, Innospec Inc., and others

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