Hydrate inhibitors are chemical substances or devices that are designed to control the formation of hydrates during the process of natural gas production. Natural gas hydrates are ice-like solids that form when natural gas and free water are combined at low temperature and high pressure. It is formed at a gas or an oil condensate well.

Hydrate inhibitors aid in reducing hydrate plugs and line blockages, which occur due to hydrate formation. Hydrate inhibitors are used where mechanical methods such as insulated flow line and active heating are not feasible.

The global hydrate inhibitor market was valued at US$ 170.0 Million in 2017 and is anticipated to register a CAGR of 6.9% in terms of revenue, over the forecast period (2017 – 2025) to reach US$ 290.3 million by 2025.

Market Dynamics

Increasing demand for natural gas and oil is expected to boost the global hydrate inhibitors market growth. Global demand for energy is increasing rapidly. Moreover, world natural gas consumption is expected to increase by 43% from 2015 to 2040 according to the International Energy Outlook 2017, as natural gas continues to be the fuel for electric power generation and for application in industrial sectors. Electric power and industrial sector uses around 75% of the natural gas of the projected increase in total consumption between 2015 and 2040.

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Major Keyplayers: 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.

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