Hydrate inhibitors Market is predicted to reach USD 21,561.8 million at a CAGR of 6.27% during the forecast period :

Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Hydrate inhibitors Market.


Market Synopsis


The global hydrate inhibitors market was valued at USD  12,772.7 million in 2021 and is projected to reach USD  21,561.8 million by 2030 at a CAGR of 6.27%%.


Hydrate inhibitors are chemical substances designed to control the formation of hydrates during natural gas production. Hydrate inhibitors help to avoid problems due to hydrate formation such as hydrate plugs and line blockages and prevent the formation of gas hydrates at lower temperature and high-pressure conditions. There are two types of hydrate inhibitors, namely thermodynamic hydrate inhibitors (THIs) and low dosage hydrate inhibitors (LDHIs). Low dosage hydrate inhibitors control the formation of hydrates and thus help to manage flow in pipelines in an extremely low volume, unlike that are required for thermodynamic inhibition.


The protuberant factors favoring the growth of the global market are increasing demand for low-dosage hydrate inhibitors (LDHIs) in the onshore and offshore operations in the oil & gas industry and advancements in the economic production of natural gas from the oceanic hydrate deposits. LDHIs prevent the formation of hydrates and thus help to manage flow in pipelines in an extremely low volume of injection (around 3%), unlike that are required for thermodynamic inhibition (high injection levels). Along with its advantage of effectivity in low volumes, the LDHIs are cost-effective, requiring less transportation, storage, and maintenance costs as compared to thermodynamic inhibitors. The LDHIs have proved to be a viable option in the industry in recent years and the demand is further expected to grow multifold in the coming years, which is expected to drive the growth of the global market.


Competitive Landscape


The global hydrate inhibitors market is characterized by the presence of many global and regional vendors. The market is highly competitive with all the players competing to gain maximum market share. Rapid progressions in oilfield processes and increasing shale gas operations and well intervention activities across the globe, namely drilling, cementing, natural gas production, and others, along with frequent changes in government regulations, and growing application of low-dosage hydrate inhibitors in subsea systems are the key factors that are likely to boost the global market growth. The vendors compete based on cost, product quality, and mainly on the availability of products. It is crucial for the vendors to offer cost-effective and high-quality hydrate inhibitors to compete in the market.


The growth of the market players is dependent on market and economic conditions, government regulations, and industrial development. Thus, the players should focus on expanding the production capacity, enhancing their services, and innovating in new technology to deliver supplier quality products to meet the demand. Schlumberger Limited (US), Baker Hughes, a GE Company LLC (US), BASF SE (Germany), Halliburton (US), Ecolab (US), Huntsman International LLC (US), Ashland (US), ARKEMA (France), Evonik Industries AG (Germany), Finoric LLC (US), Omni industrial solutions (US), and Tetra Technologies, Inc. (US) are the major companies in the market at the present that are competing in terms of quality, price, and availability. These players are primarily focusing on the development of low dosage hydrate inhibitors (LDHIs) owing to the surging demand for these hydrate inhibitors over the traditional thermodynamic hydrate inhibitors such as methanol and MEG.


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Segmentation


By Type



  • Thermodynamic inhibitors (THIs): Thermodynamic inhibitors are the most common chemical additives used to control hydrates in the gas production systems. These chemicals include methanol, monoethylene glycol, or tri-ethylene glycol, which balance the reactions between hydrocarbons and water by shifting the crystalline equilibrium curve in a direction that lowers the reaction temperature to a level that obstructs compound (hydrate) formation.

  • Low-dosage hydrate inhibitors (LDHIs): LDHIs, which are more environmentally acceptable, are gaining popularity over the THIs owing to the various benefits offered. These include extending well life beyond that achievable with methanol or glycol based inhibitor application, lower dosage rates (therefore lowering logistics costs, such as delivery, storage, and pump requirements), and elimination of refinery problems with methanol in production fluids. Moreover, THIs require high volume of solvents, between 20 and 50% of the water phase, to prevent hydrate formation, which increases worker exposure, reduces pipeline capacity, and increases the cost associated with removal of these solvents. Considering these factors, the demand for LDHIs is expected to increase in the years to follow and favor the global market growth.


By Application



  • Offshore operations: The subsea hydrate formation causing blockages in oil production lines remains one of the main concerns to deep-water field developments. In addition, ensuring a proper flow in pipelines and processing facilities in offshore environment remains a major challenge faced by oil & gas producers, especially in deep-water environments.

  • Onshore operations: In the onshore operations, particularly in the natural gas wells and oilfield pipelines where water/oil emulsions are commonly found, an interfacial film around water droplets can be formed by natural surface-active agents present in the crude oil (e.g. asphaltenes, resins, or organic acids), thus leading to hydrate formation. With the increasing energy demand across the globe and growing need to reduce the operational and capital costs incurred in the onshore oil drilling operations, the demand for hydrate inhibitors is expected to grow at a healthy rate during the assessment period.


By Region



  • North America: North America accounted for a largest market share in 2021. The North American market has been divided into the US and Canada.

  • Europe The European market has been segmented into Germany, Russia, Italy, France, the UK, Norway, Poland, the Netherlands, Denmark, and the rest of Europe. Europe has accounted the third largest market share in 2021.

  • Asia Pacific: Asia-Pacific has accounted the second largest market share in 2021. The Asia Pacific region offers huge growth potential for Hydrate inhibitors market

  • Latin America: The Latin American market is divided into Brazil, Mexico, and Argentina are the major contributors in the region.

  • Middle East & Africa: In Middle East & Africa, GCC countries are the leading in the region followed by Iran and Egypt.