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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.