24th
December 2018 - Global
Crude Oil Flow Improvers (COFI) Market expected to grow at a significant CAGR
in the upcoming years as the scope and its applications are rising enormously
across the globe. Crude oil stated as a complex mixture of hydrocarbons with
nonpolar n-paraffin and polar asphaltene. The production of crude is carried
out in remote locations and is transported via pipeline as it is the most
appropriate and effectual way of transportation. The obtained fresh crude is
mobile and is stored at very high pressure and temperature. Drag reducing
agents used to reduce turbulence and increases flow rate and quantity inside
the pipelines.
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Crude Oil Flow Improvers (COFI) Market segmented based on type, supply
mode, application, and region. Type into Hydrate Inhibitors, Paraffin
Inhibitors, Drag-reducing Agents, Asphaltene Inhibitors, and Scale Inhibitors
classify Crude Oil Flow Improvers (COFI) Market. Paraffin Inhibitors segment
accounted for the largest market share of Crude Oil Flow Improvers (COFI)
Market and expected to remain dominant over the foremost period. Paraffin waxes
are a key component in oil production and at low temperature; it blocks the
casings and oil pipelines. Therefore, paraffin inhibitors used to avoid
deposition of paraffin waxes during oil production processes.
Supply mode into Through Distributors, and Direct Mode classify Crude Oil
Flow Improvers (COFI) Market. Direct mode segment accounted for the largest
market share of Crude Oil Flow Improvers (COFI) Market in terms of volume and
value. The reason being, by issuing tenders, major oil & gas companies’
acquire COFI products directly from the dealers. In future, this segment
projected to grow at highest CAGR. Application into Refinery, Extraction,
Pipeline, and others classify Crude Oil Flow Improvers (COFI) Market.
Extraction segment accounted for the largest market share of Crude Oil
Flow Improvers (COFI) Market in terms of volume & value and expected to
remain dominant over the foremost period. The reason being, presence of large
number of oil wells across the globe. Crude Oil Flow Improvers (COFI) Industry
segmented, geographically into America (North America, South America), Europe
(Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and
Africa.
Globally, North American regional market accounted for the largest market
share of Crude Oil Flow Improvers (COFI) and leading overall market. The reason
being, increasing demand of COFI, rise in production levels and wide
investments in unconventional drilling technologies like horizontal drilling
and hydraulic fracturing. The United State is the major consumer of COFI in
this region. Followed by Europe and Asia Pacific.
The key players of Crude Oil Flow Improvers (COFI) Industry are Infineum,
Halliburton, Lubrizol, Baker Hughes, Dorf Ketal, Nalco Champion, Clariant, BASF
Se and Schlumberger.
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