Rise in Crude Oil Production Drives Demand for Asphaltene and Paraffin Inhibitors, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 07, 2014 -- Follow us on LinkedIn - Globally, crude oil exploration and production has been rising steadily over the years. Increased extraction from heavy crude oil or extra heavy crude oil reserves amplifies the challenge of controlling asphaltene and paraffin deposition during transportation, storage and processing. This in turn is driving demand for asphaltene and paraffin inhibitors since heavy grade crude oil is asphaltic and requires more use of asphaltene inhibitors as compared to light grade crude oil. Although paraffin and asphaltene concentrations in crude oil vary widely, these inhibitors are used in a broad range of commercial applications. Technological advancements are helping expand application of paraffin inhibitors in regions with cold weather conditions. Although paraffins have been in use for the past two decades, research efforts are still underway to apply paraffin inhibitors in Arctic and ultradeep water applications. This is largely because of the varying results of paraffin inhibitors in different oil wells.
Companies operating in the oilfield chemical industry are engaged in the development of new and improved oilfield chemicals in collaboration with several chemical companies. Globally, large companies including Baker Hughes, Halliburton and Schlumberger lead the oilfield chemicals industry. Significant efforts are being directed towards increasing the efficiency of inhibition process by combining the asphaltene and paraffin inhibitors to remove the asphaltene and wax deposits simultaneously.
Researchers have been working on various materials and techniques to efficiently prevent asphaltene and paraffin deposition. Polyaminoamide represents one such material developed for use as a paraffin inhibitor. Nearly 80% of the global crude oil are prone to paraffin and asphaltene precipitation and deposition at the bottom and sides of the well, thereby clogging up the tubing, casing and other flow lines. A major noteworthy innovation is the development of an environment friendly paraffin inhibitor series, PAA (polyaminoamide), using vegetable oils such as canola oil and soyabean oil as raw materials and through poly-condensation and aminolysis process. This development is expected to pave the way for a whole new breed of paraffin inhibitors in the coming years.
As stated by the new market research report on Asphaltene and Paraffin Inhibitors, the United States represents the largest market worldwide. Growth in the market is driven by the relatively large share of older oilfields present in the country. Africa is forecast to emerge as the fastest growing region with a CAGR of 6.4% over the analysis period. Heavy offshore and deepwater drilling in African countries such as Algeria, Angola and Nigeria is expected to drive growth in the region. Other developing regions such as Middle East and Asia-Pacific also hold potential for growth. In Asia-Pacific, China is expected to lead, driven by efforts to address native energy requirements by increasing production of oil and gas from old oil wells.
Major players covered in the report include Akzo Nobel Surface Chemistry LLC, Baker Hughes, Caradan Chemicals Inc., Champion Technologies Inc., Deep South Chemicals Inc., Force Chem Technologies LLC, Halliburton, and Schlumberger Limited, among others.
The research report titled "Asphaltene and Paraffin Inhibitors: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for major geographic markets including the US, Canada, Europe (Norway, UK, Russia, and Rest of Europe), Asia-Pacific (China, India, Indonesia, and Rest of Asia-Pacific), Middle East (Saudi Arabia, Iran, UAE, Iraq, Kuwait, and Rest of Middle East), Africa (Nigeria, Algeria, Libya, and Rest of Africa), and Latin America (Brazil, Mexico, Venezuela, Rest of Latin America).
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Asphaltene_and_Paraffin_Inhibitors_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
Share this article