Global Hydrate Inhibitors Market is estimated to be valued at US$ 211.68 Mn in 2021, according to the Global Hydrate Inhibitors Market Report, by Inhibitor Type (Thermodynamic Inhibitors, Low Dosage Hydrate Inhibitors (LDHI’s), and Hybrid) and by Region (North America, Europe, Asia-pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Global hydrate inhibitors market was valued at US$ 211.68 Mn in 2021. The hydrate inhibitors market is expected to exhibit a CAGR of 6.26 % over the forecast period (2022-2030), to reach US$ 364.36 Mn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/hydrate-inhibitors-market-555
Key Trends and Analysis of the Global Hydrate Inhibitors Market:
Low dosage hydrate inhibitors (LDHI) segment held a significant market share in 2021 in the global hydrate inhibitors market due to key players focusing on new product launches and development of novel technology in this segment. For instance, in September 2020, Nalco, a subsidiary of Ecolab Inc., expanded its portfolio of low-dosage hydrate inhibitors for use in the Gulf of Mexico. The new line of products with anti-agglomerant technology allows to simplify logistics, reduces safety risk, and increases production, while sustaining assets and lowering the total cost of operation.
Key Takeaways of the Global Hydrate Inhibitors Market:
Europe is a lucrative market for hydrate inhibitors with significant demand due to high offshore oil production in the region in 2021. Germany, France, and the U.K. are the major contributors to the growth of this market. For instance, according to the EU, 567 million barrels of offshore oil had been produced in the U.K. Furthermore, 95 million barrels of offshore oil and 105 million barrels of offshore gas production were recorded in Norway in 2012, according to the EU.
Middle East region held a significant market share in the global hydrate inhibitors market in 2021. This is due to key players in the region investing in new projects. For instance, Oman Oil Company invested over US$1 billion in oil and gas projects in 2021 in the region. This accompanied by the development of Khazzan tight gas field, in partnership with BP Plc., which is also expected to aid in the growth of the market.
Key players are strategically investing in mergers and acquisitions to enhance their market share and to remain competitive in the market. For instance, in 2017, Schlumberger acquired all outstanding shares of Cameron International Corporation, a leading provider of flow equipment products, services, and systems to the oil and gas industry in Africa.
- Major 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.
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