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:
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