April 16, 2018 - 4:20 PM EDT
Print Email Article Font Down Font Up
Global Crude Oil Flow Improvers Market - Shift from Shallow to Deepwater Exploration to Boost Growth| Technavio


The global crude oil flow improvers (COFI) market is expected to grow at a CAGR of more than 5% during the period 2018-2022, according to a new market research study by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180416006443/en/

Technavio has published a new market research report on the global crude oil flow improvers market f ...

Technavio has published a new market research report on the global crude oil flow improvers market from 2018-2022. (Graphic: Business Wire)

The report presents a comprehensive research of the global COFI market by application (extraction, refinery, and transportation) and by product type (paraffin inhibitors, asphaltene inhibitors, scale inhibitors, drag reducing agents, and hydrate inhibitors). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers

Market driver: shift from shallow to deepwater exploration

Most of the offshore production is mainly concentrated on shallow waters because of the low cost and technical challenges. Advances in drilling technology, floating production, dynamic positioning equipment, and drilling units have made deepwater exploration a viable option. The exhaustion of some of the shallow offshore resources has pushed vendors to explore and produce oil and gas from deepwater and ultra-deepwater (at depths of 1,500 meters or more) resources.

According to a senior analyst at Technavio for specialty chemicals research, “The increasing oil exploration in deepwater and ultra-deepwater is expected to drive the demand for crude oil flow improvers. Low temperatures and high pressure on the offshore locations can lead to the precipitation of waxes, hydrates, and asphaltenes. Crude oil flow improvers enhance the flow assurance of crude oil and help in increasing the production capacity.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: refracturing of old crude oil wells

Refracturing of shale wells is a topical issue as operators can use latest technologies on old wells, thereby increasing the production without incurring costs on new wells. The functions of old or underperforming wells are stopped, and hydraulic simulation is applied for completion. The application of hydraulic simulation in horizontal shale wells is in the initial phase. In 2015, the number of horizontal wells re-fracked in the US was almost less than 1% of the total number of horizontal wells. Refracturing can lead to an increase in the demand for crude oil flow improvers during the forecast period. In 2016 there were over 50,000 existing wells in the US, which can also be fracked.

Market challenge: stringent regulations and policies

The constant push from regulatory authorities such as the Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) is likely to limit onshore and offshore activities, thereby hampering the growth of the global COFI market. The EPA amended new regulations in the Oil and Gas Extraction Effluent Guidelines and Standards (40 CFR Part 435) in 2016. The regulation contains strict guidelines and policies for wastewater discharges from production, field exploration, drilling, production, well treatment, and well completion activities.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.


Technavio’s best deals of the month!

Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.


Celebrate International Astronomy Day by indulging in a whopping 30% savings on all reports in the Space category. Offer valid from 16th April for a limited period.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Source: Business Wire (April 16, 2018 - 4:20 PM EDT)

News by QuoteMedia

Legal Notice