Global Low Dosage Hydrate Inhibitors Market: Overview
The global low dosage hydrate inhibitors market is likely to witness robust growth in the near future. Due to the instability of supply, and rising oil prices, many countries including the US is investing heavily in exploration of new gas and oil fields. Low dosage hydrate inhibitors are widely used in oil and gas fields in order to prevent formation of hydrate compounds. Their main advantages include significantly lower costs of production, flow assurance, extended shelf life for pipelines, and additional ability to use a combination of other products.
These are used in a wide variety of applications. These include pipeline systems wherein gas pipelines wherein gas pipelines, gas gathering systems, and gas lines. Methanol based hydrate inhibitors are in dominant demand as these are non-corrosive, soluble, non-reactive, cost-effective, volatile, and have higher vapor pressure in relation to water. Thanks to their essential application in oil and gas fields, the global low dosage hydrate inhibitors market is likely to witness significant growth in the near future.
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Global Low Dosage Hydrate Inhibitors Market: Notable Developments
Offshore applications are estimated to drive over 90% growth of the low dosage hydrate inhibitors market in the near future. Additionally, PPDs are expected to offer significantly higher profit margins for manufacturers in the near future. The falling temperature points in several oil fields and its ideal application for blocking wax formation are expected to be major drivers for low dosage hydrate inhibitors market. For example, the Banyu Urip in Indonesia processes stabilized crude. This facility on average spends 20% of its operating costs for PPDs. This is one of the many off-shore oil oil fields which are on the rise globally. The pipeline at Urip field is divided into two section, the 72 km onshore section, and a 23 km offshore section. Due to the high wax content in Urip, the temperature in the offshore section can fall as low as 24 degree Celsius from its maximum at 46 degree Celsius. The low temperatures increase the risk of no-flow conditions, and can result in significant damages due to blockages in the pipeline.
Global Low Dosage Hydrate Inhibitors Market: Drivers and Restraints
The low dosage hydrate inhibitors market is expected to register robust growth in the near future. The market is witnessing a growing demand for oil, gas, and diesel, led by major importers including the US, China, and India. In 2018, the global demand for oil rose by 1.3%. The demand rose by 1.3 million barrels a day. Despite the slowdown in major markets like Europe, Middle East, and Latin America, the demand for oil continues to be robust in three before mentioned nations. Additionally, the United States witnessed a major demand for diesel, thanks to booming e-commerce and industrial production. Rise in demand on the back of a recovering economy, growth in industrial growth, and demand from the shale oil industry are expected to drive significant growth for the low dosage hydrate inhibitors market in the near future.
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Global Low Dosage Hydrate Inhibitors Market: Geographical Analysis
Asia Pacific is expected to drive the largest growth in the low dosage hydrate inhibitors market. China in recent years has emerged as the largest producer and consumer of low dosage hydrate inhibitors market. However, North America region is also expected to account for a large share of the global low dosage hydrate inhibitors market. It accounted for 16% share of the total market in 2018. The ongoing offshore activities in the region are expected to fuel demand for low dosage hydrate inhibitors in the region. Additionally, emerging nations such as India, and other APEC countries are also expected to drive significant growth for the low dosage hydrate inhibitors market in the near future.
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