The Crude Oil Flow Improvers (COFI) Market has a slow growth pace in the market, which is driven by the demand for Flow Improvers in major industries, which is mainly used for extraction process. The Crude Oil Flow Improvers (COFI) Market is expected to reach a total of USD 1.94 Billion by 2023, with a 5.53 % CAGR.
The market is mainly driven by the demand for Flow Improvers in significant industries, which is used primarily for the extraction process. Also, the demand for paraffin inhibitors of crude oil helps improve the growth of the market.
However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific suppresses the market expansion into regions like the Middle East and Africa.
Crude Oil Flow Improvers (COFI) Market Segmentation Analysis:
Based on the type of flow-improvers, the market for crude oil flow improvers is segmented into Hydrate Inhibitors, Scale Inhibitors, Drag Reducing Agents, Asphaltene Inhibitors, and Paraffin Inhibitors. Among the mentioned types, the paraffin inhibitors segment is the fastest growing and is expected to have the largest share in the market. The growth is mainly attributed to the fact that the paraffin waxes constitute a significant component in oil production and may cause challenges related to casting and oil pipelines mostly at a lower temperature.
Based on the application, the market for crude oil flow improvers is categorized into Extraction, Pipeline, and Refinery. Of the mentioned applications the extraction segment is the largest and is expected to have the fastest growth rate in the forecast as mentioned earlier period mainly due to a sizeable volumetric consumption of this product in the extraction process and a large number of oil wells across the globe.
By Supply Mode
Based on the mode of supply, the market is segmented into two, namely Direct way and Through Distributors. Of the mentioned modes of supply, the pattern through distributors is the largest as the market for crude oil trade has grown big enough to have various industries which solely depend on the export and supply of the crude oil to multiple parts of the world.
Crude Oil Flow Improvers (COFI) Market Geographical Analysis:
By geography, the market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. North America is in the lead of the Crude Oil Flow Improvers (COFI) Market by both value and volume, as of 2018. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. However, this region is only the second-fastest-growing region in the market, following the Asia Pacific.
The Asia Pacific region holds the next most significant share of the Crude Oil Flow Improvers (COFI) Market in the year of 2018, in terms of value and volume. The regional advantages offered this region, such as ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the third fastest growing regional market in the proposed forecast period, due to the lack of as many natural resources as in the Middle East.
The Middle East and Africa region are next in the lead in the crude oil flow improvers market mainly due to the large scale of natural resources present in these regions. This abundance of resource makes this region the fastest growing regional market for crude oil, mainly to the exports.
Europe is next in the lead of the market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Crude Oil Flow Improvers (COFI) Market in this region.
Crude Oil Flow Improvers (COFI) Market Key Market Players:
By the end of 2018 ExxonMobil (U.S.), Nalco Champion (U.S.), Schlumberger (U.S.), Halliburton Company (U.S.), Weatherford International (U.S.), National Oil Varco (U.S.), Clariant (Switzerland), Lubrizol Specialty Products, Inc. (U.S.), Total S.A. (France), BASF SE (Germany), Baker Hughes (U.S.), Infineum (U.K.), Dorf Ketal (India), and British Petroleum (U.K.) are the leading shareholders of the market for Crude Oil Flow Improvers (COFI) Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Crude Oil Flow Improvers (COFI) Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Paraffin Inhibitors
5.1.3 Asphaltene Inhibitors
5.1.4 Scale Inhibitors
5.1.5 Drag Reducing Agents
5.1.6 Hydrate Inhibitors
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.9 Market Share Analysis, By Type
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3 Supply Mode
5.3.3 Through Distributors
5.3.4 Y-o-Y Growth Analysis, By Supply Mode
5.3.5 Market Attractiveness Analysis, By Supply Mode
5.3.6 Market Share Analysis, By Supply Mode
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type
22.214.171.124 By Application
126.96.36.199 By Supply Mode
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
18.104.22.168 By Supply Mode
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 By Supply Mode
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Nalco Champion
8.4 Halliburton Company
8.5 Weatherford International
8.6 National Oil Varco
8.8 Lubrizol Specialty Products, Inc.
8.9 Total S.A.
8.10 BASF SE
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures