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Drag Reducing Agents Market Is Expected To Reach USD 940.40 million by 2031

Submitted by mpradipm on Mon, 02/19/2024 - 23:38

The global Drag Reducing Agents Market research report 2031, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.

This Drag Reducing Agents market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.

Data Bridge Market Research analyzes that the global drag reducing agents market which was USD 650.70 million in 2023, is expected to reach USD 940.40 million by 2031, growing at a CAGR of 4.7% during the forecast period of 2024 to 2031.

Top Companies in the Global Drag Reducing Agents Market:
Baker Hughes (U.S.), Flowchem (U.S.), Innospec (U.S.), NuGenTec (U.S.), Oil Flux Americas (U.S.), TransAsia Gas International (Singapore), The Zoranoc Oilfield Chemical (China), CLARIANT (Switzerland), BASF SE (Germany), Lubrizol Corporation (U.S.), among others.

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Market Segmentation:

Type

• Polymers

• Suspensions

• Biological Additives

• Surfactants

Form

• Liquid

• Powder

End-Use

• Oil & Gas

• Civil Work

• Fire Fighting

• Marine

• Irrigation

• Biomedical

• Chemical

• Others

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)

– North America (United States, Mexico & Canada)

– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)

– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)

– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Dynamics:

Drivers

• Growth in the energy production industry

The growth in energy production, particularly in the oil and gas industry, has led to an expansion of pipeline networks to transport these resources over long distances. The drag-reducing agents are increasingly used across the oil & gas refining and transportation industries to enhance the pipeline capacity and increase laminar flow. As pipelines extend, the demand for drag-reducing agents to improve the flow of these products grows.

• Increasing use of drag-reducing agents in medical applications

The increasing use of drag-reducing agents in medical applications is the key trend in the market. Drag-reducing agents are proven to be beneficial for blood circulation and helpful in treating cardiovascular diseases. These agents are administered for metastasizing tumor cells. These agents reduce drag in veins and arteries and regularize blood flow. This prevents potential tumor cells from settling down and deprives them of nutrients.

Opportunities

• The rising need for efficient transportation of petrochemicals

Drag-reducing agent reduces frictional pressure loss during fluid flow in a conduit or pipeline. Reducing the amount of turbulent motion in the flow reduces pressure loss. By employing DRA, it is possible to increase flow and use the same amount of energy or to lower pressure drop while maintaining the same rate of fluid flow in pipes. In petroleum production systems, increasing flow capacity and pumping rates is difficult because of drag or frictional losses. In order to reduce drag and enhance the fluid's capacity to flow or pump at the rates needed to reach the desired flow rate or improve transportation efficiency, drag-reducing agents are typically added to the fluid. Recent advancements in nanotechnology have widened the use of DRA in oil field systems. The rising need for efficient transportation of petrochemicals is creating new growth opportunities for drag-reducing agents in the forecast period.

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Strategic Points from Table of Content:

– Market Summary

– Economic Impact Competition Analysis by Players

– Production, Revenue (Value) by geographical segmentation

– Drag Reducing Agents Market Size by Type and Application

– Regional Market Status and Outlook

– Drag Reducing Agents Market Analysis and Outlook

– Drag Reducing Agents Market Forecast by Region, Type, and Application

– Cost Investigation, Market Dynamics

– Marketing Strategy comprehension, Distributors and Traders

– Market Effect Factor Analysis

– Research Finding/ Conclusion

– Appendix

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