Hydrate Inhibitors Market - Size, Share, Trends, and Forecast to 2027

The global hydrate inhibitors market was valued at US$ 170.0 million in 2017, according to Hydrate Inhibitor Market Report, by Inhibitor Type (Thermodynamic Inhibitors, Low Dosage Hydrate Inhibitors (LDHI's), and Hybrid), published by Coherent Market Insights. The global hydrate inhibitors market is projected to reach US$ 290.3 million by 2025, exhibiting a CAGR of 6.9% during the forecast period.

Increasing shale gas production globally, is expected to boost demand for hydrate inhibitors. This is owing to that fact that hydrate inhibitors reduces formation of hydrates in gas production systems such as line blockages and plugs.

According to the U.S. Energy Information Administration, total shale production in the U.S. in 2014 was 13.4 trillion cubic feet, which increased to 15.2 trillion cubic feet in 2015, owing to advancement in horizontal drilling and hydraulic fracturing techniques and focus on newly discovered technically recoverable reserves.

However, technical and economic advantages over other inhibition methods have resulted in a booming hydrate inhibitor market. Remediation measures such as pigging, depressurization of pipelines, jetting, solvent addition, heating are expensive and leads to increase in non-productive time.

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 Hydrate Inhibitors Market:

Low Dosage Hydrate Inhibitor (LDHI) segment held a significant market share in 2017 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 2016, Nalco, a subsidiary of the 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, reduce safety risk, and increase production while sustaining assets and lowering the total cost of operation.
Key Takeaways of the Market:

Europe is a lucrative market for hydrate inhibitors with significant demand due to high offshore oil production from the region in 2017. Germany, France, and the U.K. were the major contributors to growth of this market. For instance, according to the EU, 567 million barrels of offshore oil had been produced in the U.K. in 2012. Furthermore, 95 million barrels of offshore oil and 105 million barrels of offshore gas production was recorded in Norway in 2012, according to the EU.
In addition to this, according to the data provided by the UK Parliament, U.K. actively focuses on exploration and production of oil and gas (mostly offshore) and in 2016, around 80% of the U.K.'s primary energy needs were met by fossil fuels. Thus, growing oil and gas sector in the region is anticipated to support the market growth as well.
Middle East region held significant market share in global hydrate inhibitors market in 2017. This is due to key players in the region investing in new projects. The Oman Oil Company invested over US$1 billion in oil and gas projects in 2017 in the region. This accompanied by the development of the Khazzan tight gas field in partnership with BP Plc. is also expected to aid in growth of the market.
Key players are strategically investing in mergers and acquisitions to enhance their market share and 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 includes 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.