1. Introduction of Asphaltene and Paraffin Inhibitors Market Types
Paraffin Inhibitor: Paraffin inhibitors are chemical additives used in petroleum production operations to reduce wax deposition and/or reduce the viscosity or complete gelling of high-wax-content petroleum fluids.
Asphaltene Inhibitor：An asphaltene inhibitor is a chemical used in the oil and gas industry to remove asphaltenes from crude oil. Asphaltenes are the impurities found in crude oil that if not removed can choke refining equipment.
2. Global Asphaltene and Paraffin Inhibitors Market Historical Sales by Type
Over the years 2018 to 2023, there was a consistent increase in the global sales of both paraffin and asphaltene inhibitors, with paraffin inhibitor sales climbing from 183.2 K tons to 209.0 K tons and asphaltene inhibitor sales advancing from 69.0 K tons to 81.6 K tons. Collectively, the total sales volume experienced a steady growth, reaching from 252.2 K tons to 290.7 K tons, underscoring the escalating worldwide demand for these products.
Table Global Asphaltene and Paraffin Inhibitors Historical Sales (K Tons) by Type (2018-2023)
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Paraffin Inhibitor | 183.2 | 192.7 | 178.2 | 187.1 | 196.5 | 209.0 |
Asphaltene Inhibitor | 69.0 | 73.4 | 68.3 | 72.2 | 76.3 | 81.6 |
Total | 252.2 | 266.2 | 246.4 | 259.4 | 272.8 | 290.7 |
From 2018 to 2023, the global market share for Paraffin Inhibitors experienced a slight downward trend, decreasing from 72.65% to 71.92%, while Asphaltene Inhibitors saw a minor upward trend, increasing from 27.35% to 28.08%. Despite these small changes, the total market share for both inhibitors remained at 100%, reflecting a consistent market distribution between the two types of inhibitors over the six-year period.
Table Global Asphaltene and Paraffin Inhibitors Sales Market Share by Type (2018-2029)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Paraffin Inhibitor | 72.65% | 72.41% | 72.30% | 72.15% | 72.03% | 71.92% |
Asphaltene Inhibitor | 27.35% | 27.59% | 27.70% | 27.85% | 27.97% | 28.08% |
3. Global Asphaltene and Paraffin Inhibitors Market Historical Revenue by Type
Throughout the period from 2018 to 2023, the Paraffin Inhibitors and Asphaltene Inhibitors have seen a collective increase in global revenue, with Paraffin Inhibitors starting at $509.77 million and ending at $600.66 million, and Asphaltene Inhibitors growing from $173.16 million to $211.40 million. The total revenue for both inhibitors reached $812.06 million in 2023, marking a significant growth in the market for these products over the six years.
Table Global Asphaltene and Paraffin Inhibitors Historical Revenue (M USD) by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Paraffin Inhibitor | 509.77 | 523.34 | 469.72 | 531.63 | 581.55 | 600.66 |
Asphaltene Inhibitor | 173.16 | 179.87 | 162.30 | 185.04 | 203.59 | 211.40 |
Total | 682.93 | 703.21 | 632.02 | 716.66 | 785.14 | 812.06 |
Between 2018 and 2023, the global revenue market share for Paraffin Inhibitors saw a slight downward trend, decreasing from 74.64% to 73.97%, while Asphaltene Inhibitors experienced a gentle upward trend, increasing from 25.36% to 26.03%. Despite these minor fluctuations, the overall market share distribution between the two types of inhibitors remained relatively stable over the six-year period.
Table Global Asphaltene and Paraffin Inhibitors Revenue Market Share by Type (2018-2029)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Paraffin Inhibitor | 74.64% | 74.42% | 74.32% | 74.18% | 74.07% | 73.97% |
Asphaltene Inhibitor | 25.36% | 25.58% | 25.68% | 25.82% | 25.93% | 26.03% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
4. Global Asphaltene and Paraffin Inhibitors Market Price Analysis by Type
The global prices for Asphaltene and Paraffin Inhibitors experienced fluctuations between 2018 and 2023, with Paraffin Inhibitor prices decreasing from $2,782 to $2,873 per ton and Asphaltene Inhibitor prices falling from $2,510 to $2,590 per ton over the period. Despite these changes, the average price for both inhibitors increased overall, reaching a peak in 2022 at $2,878 per ton before slightly declining to $2,794 in 2023.
Table Global Asphaltene and Paraffin Inhibitors Price (USD/Ton) by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Paraffin Inhibitor | 2782 | 2715 | 2637 | 2841 | 2959 | 2873 |
Asphaltene Inhibitor | 2510 | 2449 | 2378 | 2562 | 2668 | 2590 |
Average Price | 2707 | 2642 | 2565 | 2763 | 2878 | 2794 |
