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2021
Paraffin Inhibitors Market

Paraffin Inhibitors Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Dec 2021 | 296 Views
   
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COVID-19

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Paraffin Inhibitors Market Analysis 2020-2027:

Paraffin inhibitors, also known as pour-point depressants, are high molecular-weight polymers that deviate the attributes of wax deposits and wax gel networks by altering the wax crystallization process. These are polymers that are used to avoid the precipitation of paraffin from oil and to decrease wax deposition or to decrease thickness or complete gelling of high-wax-content petroleum fluids.

Paraffin inhibitors contact with paraffin in the crude and modify the shape & size of wax crystals, thereby keeping them separated and preventing them from sticking to the surface. Further, paraffin inhibitors are typically mixed in the carrier fluid for convenient delivery (with a simple injection pump) to the petroleum stream, which needs to be treated. Moreover, paraffin inhibitors are suitable in conditions varying from stringent extreme cold arctic locations to tropical locations.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

Downhole & Surface Location, Application, Industry Vertical, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

BASF SE, NALCO, Halliburton, Evonik Industries AG, Croda International Plc, Schlumberger Limited, Baker Hughes Incorporated, GE Corporation, Clariant, AkzoNobel N.V

 

COVID-19 scenario analysis

The prevalence of COVID-19 has led to decline in consumption rates of refineries across the globe, causing shortage in supply for various end-use sectors and has also put a halt on trade cycle, thereby affecting oil and gas industry and therefore hindering the paraffin inhibitors market as well. Moreover, covid-19 pandemic has shut a lot of oil and gas industries leading to decline in demand for paraffin inhibitors and restraining the market.

Top impacting factors: Market scenario analysis, trends, and drivers

The paraffin inhibitors market is primarily driven by the expanding oil & gas industry, where a stream of oil in the pipelines is the main problem due to blockages and wastage of oil caused due to deposition of paraffin from oil. Therefore, paraffin inhibitors are used due to their technological ability to prevent wax flow assurance problems along with reduced time for the flow of oil. Moreover, paraffin inhibitors prevent the pileup of slop at the bottom of the tank as well as help in reducing the energy cost along with preventing the wear & tear of equipment. Therefore, all these factors are expected to boost the paraffin inhibitors market and provide lucrative opportunities for revenue generation over the forecast period.

Furthermore, paraffin inhibitors can be used for various types of crude oil.

However, strategic management of procedures and complications associated with the application of the paraffin inhibitors market must be taken care to use paraffin inhibitors efficiently and effectively.

Regional analysis

The global paraffin inhibitors market is studied across the major four regional markets, including North America, Europe, Asia-Pacific, and LAMEA. North America is expected to be the largest revenue generator in the global market over the forecast period. This dominance is due to increasing technological advancements. In addition, development of unconventional methods for the production of oil, which leads to rising demand for paraffin inhibitors are further expected to complement the growth of this region. In addition, the Middle East & Africa is expected to register significant growth due to the presence of large oil and petrochemical industries in the region. In Asia-Pacific, paraffin inhibitors are predicted to develop at a moderate rate over the forecast period due to increase in the oil & gas industry.

Key segments covered:

Segments

Sub-segments

  Application

  • Exploration and Drilling
  • Storage
  • Transportation (Pipelines)

  Downhole & Surface                  Location

  • Water/Oil Ratio
  • Total Fluid Volume of System

  Industry Vertical

  • Chemical & Petrochemical
  • Oil & Gas
  • Energy & Power
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global paraffin inhibitors market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global paraffin inhibitors market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global paraffin inhibitors market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the paraffin inhibitors market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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