This Paraffin Inhibitors market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Paraffin Inhibitors market.
Paraffin inhibitors are polymers used to prevent the precipitation of paraffin from oil. Crude oil paraffin inhibitors alter the shape and size of wax crystals, thereby keeping them dispersed and preventing them from adhering to the surface. Deposition of paraffin, which happens naturally in crude oil, can pose serious challenges during production, transportation and storage. A number of factors affect the precipitation of paraffin, some of them include temperature, cooling rate of the storage tanks and pipelines, etc. Paraffin inhibitors are essentially chemicals that prevent the deposition of paraffin in storage tanks and pipelines and prevent paraffin induced blockage. Paraffin inhibitors can be used for different varieties of crude oil. The particles remain dispersed and are flown back into the oil. The wastage, thus, is minimized and the additional waste disposal cost is also saved. It is because all of these benefits that paraffin inhibitors offer, it is anticipated that the paraffin inhibitors market will expand at a significant CAGR over the forecast period.
Global Paraffin Inhibitors Market Dynamics
Global Paraffin Inhibitors Market Drivers
There is an increasing need to improve the flow of crude oil flow preventing blockages and reducing the wastage of oil caused due to deposition of paraffin from oil and this is one of the prime factors driving the paraffin inhibitors market. Moreover, the downtime for the flow of oil can also be reduced with the help of these inhibitors. With increase in oil exploration and production activities worldwide, the global paraffin inhibitors market is foreseen to remain lucrative over the span of next 10 years. The use of paraffin inhibitors has led to decrease in energy costs and has also managed to reduce the wear and tear of equipment. Moreover, paraffin inhibitors also prevent the deposition of sludge at the bottom of the tank. Thus, the use of paraffin inhibitors reduces operational issues and maximizes hydrocarbon production. All of these factors are expected to affect the market positively in years to come.
Global Paraffin Inhibitors Market Restraints
The time of application of paraffin inhibitors plays a very crucial role. If paraffin inhibitors are added before the oil is cooled to a particular temperature, the paraffin inhibitors induce the formation of agglomerates as the stability of the colloidal solution is disturbed. Thus, due to technicalities and complexities associated with application, the market is growing at a steady rate. Moreover, in regions such as Asia Pacific, the lack of awareness is a major factor restraining the growth of the market in the region
Global Paraffin Inhibitors Market Trends
The manufacturers have managed to develop such paraffin inhibitors that can work at low temperature conditions like subsea umbilical and cold climates. Efforts are being made to produce such paraffin inhibitors that can prevent deposition under extreme environmental conditions.
Global Paraffin Inhibitors Market Regional Outlook
North America holds a major share in the global paraffin inhibitors market and is anticipated to remain dominant over the forecast period, 2016-2026. This can be attributed to increasing technological advancements and development of unconventional methods for the production of oil which has shown rising demand for paraffin inhibitors. Western Europe also holds a significant share in the global paraffin inhibitors market. Asia Pacific and Japan are anticipated to expand at a moderate CAGR over the forecast period. Middle East and Africa is expected to expand at a significant CAGR owing to the large oil and petrochemical base industries in the region.
Global Paraffin Inhibitors Market Participants
Some of the market participants identified across the value chain of the global paraffin inhibitors market are: BASF SE, NALCO, Halliburton, Evonik Industries AG, Croda International Plc, Schlumberger Limited, Baker Hughes Incorporated, GE Corporation, Clariant, AkzoNobel N.V, Zirax Limited, Refinery Specialties, Inc., Dorf ketal Chemicals.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Paraffin Inhibitors Market Segmentation
The global market for paraffin inhibitors can be segmented on the basis of application and region.
On the basis of application the global paraffin inhibitors market can be segmented into:
- Exploration and drilling
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Paraffin Inhibitors Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Paraffin Inhibitors Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Paraffin Inhibitors Market report?
In addition to up-to-date market figures and customized of the Paraffin Inhibitors Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.