As per this study the global drag reducing agent market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of XX%.
Drag reducing agents or polymers are the chemical additives, which are used to reduce the frictional pressure or turbulence in a pipeline. Basically, these are high molecular weight polymers that act as buffers along the walls of the pipe and thus reduce energy loss and increase liquid flow. These agents generally decrease turbulence by increasing pumping activity under low pressure by saving both cost and energy. It is useful in oil & gas industry, shipbuilding, fire fighting, healthcare, and chemical transportation.
Market Dynamics
Rising demand for crude oil owing to increasing end-use industries such as petrochemicals, energy generation, and oil & gas has driven the drag reducing agent market. Drag reducing agent is used to improve crude oil productivity and flow capacity has increased its demand in crude oil extracting, transportation and refining. Growth in hydraulics fracturing is likely to boost the drag reducing agent demand. However, Environmental concerns and fluctuating crude oil prices are expected to hinder the market growth. Nevertheless, favorable policies by oil-producing countries regarding the use of bio-based drag reducers are presumed to foster the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of drag reducing agent.
Market Segmentation
The broad drag reducing agent market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Polymers (High Viscosity Gluc, Low Viscosity Glue, Rubber Latex)
- Suspensions
- Surfactants (Anionic, Cationic, Non-ionic)
- Biomaterials
- Others
By End-use Industry
- Oil & Gas
- Chemical
- Medical
- Irrigation
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for drag reducing agent in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Drag Reducing Agent Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Drag Reducing Agent market include Baker Hughes, Flowchem, Innospec, Lubrizol Specialty Products Inc., NuGenTec, Oil Flux Americas, Sino Oil King Shine Chemical, Superchem Technology, The Zoranoc Oilfield Chemical, China National Petroleum Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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