HOME › Research Insight › Lubrizol Specialty Products, Inc. (U.S.), Dorf Ketal (India), and Schlumberger (U.S.) have acquisition as their key growth strategy in the global Crude Oil Flow Improver Market
Lubrizol Specialty Products, Inc. (U.S.), Dorf Ketal (India), and Schlumberger (U.S.) have acquisition as their key growth strategy in the global Crude Oil Flow Improver Market
Flow improvers are added to the crude oil to eliminate the undesirable asphaltene, paraffin, and scale precipitations. They are either continuously injected or introduced by batches into flowlines or well bores. The global crude oil flow improver (COFI) market size is expected to reach USD 1.73 Billion, by 2021, registering a CAGR of 5.5%, between 2016 and 2021. Rising worldwide production of heavy crude oil and increase in hydraulic fracturing are the key factors fueling the demand of crude oil flow improvers, globally.
The key companies profiled in this report include Halliburton/Baker Hughes (U.S.), BASF SE (Germany), Nalco Champion (U.S.), Schlumberger (U.S.), Clariant (Switzerland), Dorf Ketal (India), Lubrizol Specialty Products, Inc. (U.S.), and Infineum (U.K.). The surging demand for flow improvers encouraged companies to adopt several business strategies to retain their competitiveness in the global market, between 2012 and 2016. Therefore, companies, such as Lubrizol Specialty Products, Inc. (U.S.), Dorf Ketal (India), and Schlumberger (U.S.) have acquisition as their key growth strategy in the global COFI market.
Lubrizol Specialty Products, Inc. (U.S.) bought two units from Weatherford International Plc (U.S.). The deal included Engineered Chemistry unit which provides additives for fracking and Integrity Industries drilling-fluids business. This acquisition has provided Lubrizol a new platform for growth as the company builds a multibillion business in drilling fluids and specialty chemicals for the oilfield industry.
Dorf Ketal Chemicals India Private Limited (India), a global leader in specialty chemicals, acquired Flowchem Technologies, LLC (U.S.) in March 2016. Flowchem is a specialty oilfield chemical provider having its operations based in the U.S. and across Gulf of Mexico. With the help of this acquisition Dorf Ketal has a ready channel to enter the upstream market of the U.S. The product portfolio of Flowchem in drilling and oilfield production will be combined with those of Dorf Ketalís, hence improving the capabilities of both these entities. This acquisition will help Flowchem to extend and grow its infrastructure in North America.
Crude Oil Flow Improvers (COFI) Market by Type (Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, Drag Reducing Agents, and Hydrate Inhibitors), Application (Extraction, Pipeline, and Refinery), Supply Mode - Global Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India