The Reports and Insights, a leading market research company, has recently releases report titled “Drag Reducing Agent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Drag Reducing Agent Market Trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Drag Reducing Agent Market?
The global drag reducing agent market size reached US$ 1.3 billion in 2023. The market to reach US$ 2.1 billion in 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
What are Drag Reducing Agent?
A drag reducing agent (DRA) is a chemical additive employed in pipelines to diminish turbulence and frictional pressure losses, ultimately enhancing the efficiency of fluid transportation. By modifying the flow characteristics of the fluid, DRAs lower the energy needed to pump liquids through pipelines, resulting in cost savings and higher throughput. DRAs are widely applied in oil and gas pipelines to enhance operational efficiency and decrease maintenance expenses.
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What are the growth prospects and trends in the Drag Reducing Agent industry?
The drag reducing agent market growth is driven by various factors and trends. The drag reducing agent (DRA) market is expanding in response to growing requirements for effective fluid conveyance in industries like oil and gas, mining, and water treatment. These agents, chemical additives that lessen frictional pressure losses in pipelines, enhance fluid flow efficiency and lower energy consumption. Market growth is fueled by the imperative to streamline pipeline operations, cut maintenance expenses, and boost overall operational efficiency. Additionally, advancements in DRA formulations and escalating investments in pipeline infrastructure are driving market growth. Hence, all these factors contribute to drag reducing agent market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
- Polyacrylamide-based DRAs
- Polymers-based DRAs
- Surfactants-based DRAs
By Application:
- Crude Oil Flow Assurance
- Refined Product Transportation
- Slurry Flow in Mining
- Other Applications
By End-Use Industry:
- Oil & Gas
- Mining
- Chemical
- Water Treatment
- Others
By Flow Regime:
- Laminar Flow
- Turbulent Flow
Segmentation By Region:
North America:
Asia Pacific:
- China
- India
- Japan
- Australia & New Zealand
- Association of Southeast Asian Nations (ASEAN)
- Rest of Asia Pacific
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX (Belgium, the Netherlands, Luxembourg)
- NORDIC (Norway, Sweden, Finland, Denmark)
- Rest of Europe
Latin America:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
The Middle East & Africa:
- Saudi Arabia
- United Arab Emirates
- South Africa
- Egypt
- Israel
- Rest of MEA (Middle East & Africa)
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Flowchem
- Clariant AG
- Baker Hughes
- Nalco Champion
- Innospec Inc.
- LiquidPower Specialty Products Inc.
- Halliburton Company
- Schlumberger Limited
- The Lubrizol Corporation
- Arkema Group
- Infineum International Limited
- Stepan Company
- Innophos Inc.
- Cebo Holland B.V.
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