Hydrate Inhibitors Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2021-2027). The research presents a complete assessment of the market and contains Future trends, Current Growth Factors, attentive opinions, facts, historical data, and statistically supported and industry-validated market data. The report conducted a professional and in-depth analysis of the current situation of the Hydrate Inhibitors market, including major players such as manufacturers, suppliers, distributors, traders, customers, and investors. The report also helps you understand the dynamic structure of the Hydrate Inhibitors market by identifying and analyzing market segments.
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Hydrate inhibitors are chemical substances or devices that are designed to control the formation of hydrates during the process of natural gas production. Natural gas hydrates are ice-like solids that form when natural gas and free water are combined at low temperature and high pressure. It is formed at a gas or an oil condensate well.
Hydrate inhibitors aid in reducing hydrate plugs and line blockages, which occur due to hydrate formation. Hydrate inhibitors are used where mechanical methods such as insulated flow line and active heating are not feasible.
However, political instability and low prices of oil is a major factor negatively affecting growth of the global hydrate inhibitors market. According to Organization of the Petroleum Exporting Countries (OPEC), political instability has negative impacted oil and gas production in Venezuela in the Latin American region and it has witnessed a significant decrease. For instance, according to The U.S. Energy Information Administration (EIA), crude oil production in Venezuela was 2.3 million barrels per day (b/d) in 2016, which is decreased to 1.6 million b/d in January 2018.
The global hydrate inhibitor market was valued at US$ 170.0 Million in 2017 and is anticipated to register a CAGR of 6.9% in terms of revenue, over the forecast period (2017 – 2025) to reach US$ 290.3 million by 2025.
For instance, according to U.S. Energy Information Administration, total consumption of natural gas in the U.S. was 26,155 billion cubic feet in 2016, which increased to 27,090 billion cubic feet in 2017.
Hydrate inhibitors market is expected to grow rapidly in Asia Pacific during the forecast period (2018-2025). This is attributed to increasing demand for hydrate inhibitors from countries including China, Japan, South Korea, and India. Asia Pacific is heavily reliant on hydrocarbon imports from Middle East and Africa.
Key players operating in the global hydrate inhibitors market include Halliburton, Ashland Global Specialty Chemicals Inc., Ecolab Inc., Baker Hughes Inc., Innospec Inc., JSC Gazprom Neftekhim Salavat, BASF SE, Evonik Industries AG, Clariant AG, GasHydrate LLC, and Schlumberger Limited.
[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Hydrate Inhibitors Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Hydrate Inhibitors Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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