Paraffin Inhibitors Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022

Pages: 135

SKU: IRTNTR44159

Snapshot

The paraffin inhibitors market share is expected to increase by USD 168.31 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.15%.

This paraffin inhibitors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers paraffin inhibitors market segmentation by application (offshore and onshore) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The paraffin inhibitors market report also offers information on several market vendors, including AES Arabia Ltd., BASF SE, Clariant AG, Croda International Plc, Dorf Ketal Chemicals I Pvt. Ltd., Ecolab Inc., EMEC, Evonik Industries AG, FlexChem Corp, Force Fluids LLC, General Electric Co, Halliburton Co., Kosta Oil Field Technologies Inc., Refinery Specialties Inc., Rocanda, Roemex Ltd., Schlumberger Ltd., The Dow Chemical Co., Zirax, and Innospec Inc. among others.

What will the Paraffin Inhibitors Market Size be During the Forecast Period?

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Paraffin Inhibitors Market: Key Drivers, Trends, and Challenges

The growing complexity in offshore field operations is notably driving the paraffin inhibitors market growth, although factors such as volatility in oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the paraffin inhibitors market. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Paraffin Inhibitors Market Driver

The growing complexity in offshore field operations is one of the major drivers impacting the paraffin inhibitors market growth. With technological advancements, oil and gas companies are investing in deepwater and ultra-deepwater oil and gas fields. These offshore oil and gas fields, particularly deepwater and ultra-deepwater fields, have different characteristics from conventional oil and gas fields, making it difficult to carry out operations. The harsh operating environment further adds to the complexity of processes such as refining, transportation, and extraction. Therefore, the demand for paraffin inhibitors in offshore operations has increased in the oil and gas industry. The availability of paraffin inhibitors reduces the formation of paraffin deposition, thereby improving applications such as refining, pipeline, and extraction. Thus, the growing complexity in offshore field operations is expected to contribute significantly to the growth of the paraffin inhibitors market during the forecast period. With the rise in new offshore projects, the need for paraffin inhibitors in subsea production will increase, which, in turn, will contribute to the demand for paraffin inhibitors during the forecast period.

Key Paraffin Inhibitors Market Trend

Increasing investments in oil storage tanks is one of the major trends influencing the paraffin inhibitors market growth. The paraffin inhibitors market is growing due to the increase in investments in oil storage tanks. Countries that are importing crude oil from other countries need oil storage tanks and storage capacities and need to invest in the installation of new tanks for storage purposes. For instance, in 2018, the US was the largest importer of crude oil from the Middle East and Africa-based oil and gas companies. Besides, as there are many oil producers in the Middle East and Africa, oil terminals in this region are expanding their storage tanks. For instance, in April 2020, Brooge Energy Ltd. announced a contract with MUC Oil & Gas Engineering Consultancy LLC (MUC) to complete Phase 3 refinery and storage expansion at BPGIC's existing terminal operations in Fujairah, UAE. Besides, there are several plans to expand the existing oil terminal capacities in the Netherlands, Belgium, Estonia, France, Ukraine, and Russia. Thus, new investments for storing refined petroleum products and crude oil along with maintenance practices in existing tanks will increase the demand for paraffin inhibitors during the forecast period.

Key Paraffin Inhibitors Market Challenge

Volatility in oil and gas prices is one of the major challenges impeding the paraffin inhibitors market growth. The prices of crude oil influence the prices of several derivative products, such as gasoline and lubricants. Any unanticipated price fluctuations can change the course of the entire market within a short period. The petroleum industry is affected by frequent fluctuations in crude oil prices. Volatility in oil and gas prices also affects investment decisions in new and existing projects, leading to project abandonment, delays, and reduction in investment outlays. The global oil and gas storage service market is a critical part of the midstream industry, which is also directly affected by such decisions. The downward movement in oil and gas market prices has a direct impact on storage service customers, pressurizing the entire value chain. Volatility in oil and gas prices can directly affect the paraffin inhibitors market during the forecast period.

This paraffin inhibitors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global paraffin inhibitors market as a part of the global diversified chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the paraffin inhibitors market during the forecast period.

Who are the Major Paraffin Inhibitors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the paraffin inhibitors market encompasses successful business strategies deployed by the key vendors. The paraffin inhibitors market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The paraffin inhibitors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Paraffin Inhibitors Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the paraffin inhibitors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Paraffin Inhibitors Market?

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34% of the market’s growth will originate from North America during the forecast period. The US is the key market for paraffin inhibitors in North America. Market growth in this region will be faster than the growth of the market in other regions.

The increase in the production of oil and gas in this region will facilitate the paraffin inhibitors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the paraffin inhibitors market in North America. Due to the imposition of lockdowns and restrictions on mass movement, the demand for crude oil reduced drastically in the first half of 2020. Moreover, oil and gas prices declined, which negatively impacted oil companies in the region. Thus, the overall investments by E&P companies decreased in 2020, such as investments in Canada's oil and gas sector shrunk by 31% in 2020.

What are the Revenue-generating Application Segments in the Paraffin Inhibitors Market?

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The paraffin inhibitors market share growth in the onshore segment will be significant during the forecast period. The increase in onshore drilling activities in several countries, including India, Malaysia, Indonesia, China, South Korea, and Japan, is expected to accelerate the demand for paraffin inhibitors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the paraffin inhibitors market size and actionable market insights on the post COVID-19 impact on each segment.

Paraffin Inhibitors Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.15%
Market growth 2022-2026	$ 168.31 million
Market structure	Fragmented
YoY growth (%)	3.95
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 34%
Key consumer countries	US, United Arab Emirates, Saudi Arabia, China, Japan, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AES Arabia Ltd., BASF SE, Clariant AG, Croda International Plc, Dorf Ketal Chemicals I Pvt. Ltd., Ecolab Inc., EMEC, Evonik Industries AG, FlexChem Corp, Force Fluids LLC, General Electric Co, Halliburton Co., Kosta Oil Field Technologies Inc., Refinery Specialties Inc., Rocanda, Roemex Ltd., Schlumberger Ltd., The Dow Chemical Co., Zirax, and Innospec Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Paraffin Inhibitors Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive paraffin inhibitors market growth during the next five years
Precise estimation of the paraffin inhibitors market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the paraffin inhibitors industry across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of paraffin inhibitors market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application

5.3 Onshore - Market size and forecast 2021-2026
- Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)

5.4 Offshore - Market size and forecast 2021-2026
- Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Application
- Exhibit 36: Market opportunity by Application ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026
- Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Japan - Market size and forecast 2021-2026
- Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 United Arab Emirates - Market size and forecast 2021-2026
- Exhibit 78: Chart on United Arab Emirates - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on United Arab Emirates - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on United Arab Emirates - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on United Arab Emirates - Year-over-year growth 2021-2026 (%)

7.13 Saudi Arabia - Market size and forecast 2021-2026
- Exhibit 82: Chart on Saudi Arabia - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Saudi Arabia - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Saudi Arabia - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Saudi Arabia - Year-over-year growth 2021-2026 (%)

7.14 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption

9.4 Industry risks
- Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 91: Vendors covered

10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification

10.3 AES Arabia Ltd.
- Exhibit 93: AES Arabia Ltd. - Overview
- Exhibit 94: AES Arabia Ltd. - Product / Service
- Exhibit 95: AES Arabia Ltd. - Key offerings

10.4 BASF SE
- Exhibit 96: BASF SE - Overview
- Exhibit 97: BASF SE - Business segments
- Exhibit 98: BASF SE - Key news
- Exhibit 99: BASF SE - Key offerings
- Exhibit 100: BASF SE - Segment focus

10.5 Clariant AG
- Exhibit 101: Clariant AG - Overview
- Exhibit 102: Clariant AG - Business segments
- Exhibit 103: Clariant AG - Key news
- Exhibit 104: Clariant AG - Key offerings
- Exhibit 105: Clariant AG - Segment focus

10.6 Croda International Plc
- Exhibit 106: Croda International Plc - Overview
- Exhibit 107: Croda International Plc - Business segments
- Exhibit 108: Croda International Plc - Key news
- Exhibit 109: Croda International Plc - Key offerings
- Exhibit 110: Croda International Plc - Segment focus

10.7 Dorf Ketal Chemicals I Pvt. Ltd.
- Exhibit 111: Dorf Ketal Chemicals I Pvt. Ltd. - Overview
- Exhibit 112: Dorf Ketal Chemicals I Pvt. Ltd. - Product / Service
- Exhibit 113: Dorf Ketal Chemicals I Pvt. Ltd. - Key offerings

10.8 Ecolab Inc.
- Exhibit 114: Ecolab Inc. - Overview
- Exhibit 115: Ecolab Inc. - Business segments
- Exhibit 116: Ecolab Inc. - Key news
- Exhibit 117: Ecolab Inc. - Key offerings
- Exhibit 118: Ecolab Inc. - Segment focus

10.9 Evonik Industries AG
- Exhibit 119: Evonik Industries AG - Overview
- Exhibit 120: Evonik Industries AG - Business segments
- Exhibit 121: Evonik Industries AG - Key news
- Exhibit 122: Evonik Industries AG - Key offerings
- Exhibit 123: Evonik Industries AG - Segment focus

10.10 Refinery Specialties Inc.
- Exhibit 124: Refinery Specialties Inc. - Overview
- Exhibit 125: Refinery Specialties Inc. - Product / Service
- Exhibit 126: Refinery Specialties Inc. - Key offerings

10.11 Schlumberger Ltd.
- Exhibit 127: Schlumberger Ltd. - Overview
- Exhibit 128: Schlumberger Ltd. - Business segments
- Exhibit 129: Schlumberger Ltd. - Key offerings
- Exhibit 130: Schlumberger Ltd. - Segment focus

10.12 Zirax
- Exhibit 131: Zirax - Overview
- Exhibit 132: Zirax - Product / Service
- Exhibit 133: Zirax - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 134: Inclusions checklist
- Exhibit 135: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources

11.5 List of abbreviations
- Exhibit 140: List of abbreviations

rate of industrialization: Several products from the global diversified chemicals market are used in various industries, including automotive, polymer modification, chemicals, and consumer goods. The growth of the global diversified chemicals market is highly influenced by the growing rate of industrialization across the world, especially in emerging economies.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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