Sales in the global low dosage hydrate inhibitors market are slated to top US$ 75.3 Mn in 2022. Expanding at a healthy 8.1% CAGR, the market size is projected to total US$ 120.3 Mn by 2029.
The low dosage hydrate inhibitors market is expected to grow at a robust 8.1% CAGR between 2022 and 2029, up from 8.2% CAGR recorded during 2014-2021, predicts Future Market Insights (FMI).
Earlier, thermodynamic hydrate inhibitors (THIs) were used by the oil and gas industry due to their ability to shift the hydrate-equilibrium curve towards lower temperatures and higher pressures. These inhibitors were able to change the activity of water molecules to accelerate the shift.
Application of low dosage inhibitors will be particularly high in the offshore terrain segment, according to FMI’s analysis. Estimated to achieve a massive incremental opportunity through 2028, more than 90% of overall consumption of low dosage hydrate inhibitors is expected to be registered by offshore terrain.
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Anti-agglomerate Inhibitors Hold Potential to Rise above Kinetic Hydrate Inhibitors
A majority of leading manufacturers have been accelerating the shift from the conventional thermodynamic inhibitors to low dosage hydrate inhibitors in an effort to achieve significant savings in terms of maintenance costs. Increasing acceptance of low dosage hydrate inhibitors will be further strengthened by cost benefit related to flow assurance and flow maintenance, storage, logistics, and pumping among others.
In addition, the BOD (biological oxygen demand) and COD (chemical oxygen demand) associated with low dosage hydrate inhibitors is significantly lesser than that with thermodynamic inhibitors. According to FMI’s study, superior sustainability quotient will continue to place low dosage hydrate inhibitors superior to thermodynamic inhibitors. In line with the increasing quest of sustainability, anti-agglomerate type of low dosage hydrate inhibitors, which are more degradable than kinetic hydrate inhibitors, will remain the most preferred compound in the global low dosage hydrate inhibitors market.
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China to Remain Dominant Producer & Consumer of Low Dosage Hydrate Inhibitors
China is expected to lead the overall low dosage hydrate inhibitors’ consumption, retaining the title of the largest producer and consumer of low dosage hydrate inhibitors, globally. North America accounted for more than 16% of the total revenues attained by global low dosage hydrate inhibitors in 2018. The report envisages that North America will remain among the most important markets for low dosage hydrate inhibitors throughout the period of study. Furthermore, this growth is primarily attributed to the region’s primacy in offshore gas production activities.
Although the report reaffirms supremacy of China and North America in the low dosage hydrate inhibitors landscape, the flourishing manufacturing scene in fast-developing regional pockets such as East Asia, MEA, and Latin America prompt at the speeding revenue growth of low dosage hydrate inhibitors.
Consistently growing demand for low dosage hydrate inhibitors from emerging markets such as India and ASEAN countries is expected to create ample opportunities for the manufacturers of low dosage hydrate inhibitors in coming years. New offshore natural gas exploration projects are further expected to boost the consumption levels of low dosage hydrate inhibitors in MEA, through 2028.
Vendor Insights: Global Low Dosage Hydrate Inhibitors Market
The report has covered detailed strategic profiles of some of the top companies operating in the global low dosage hydrate inhibitors market, such as BASF SE, Schlumberger Limited, Arkema Group, Baker Hughes Incorporated (BGHE), Clariant AG, Ecolab Inc., Evonik Industries AG, Force Chem Technologies LLC, Halliburton Co., and Gas Hydrate LLC, among others.
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Key Segment : Global Low Dosage Hydrate Inhibitors Market
Product Type
- Anti-Agglomerate (AA) Inhibitors
- Kinetic Hydrate Inhibitors (KHIs)
Terrain Type
- Onshore
- Offshore
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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