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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Drag Reducing Agent market for 2018-2023.
Drag reducing agent (DRA), also called drag reducer or flow improver, is a long chain polymer chemical that is used in crude oil, refined products or non-potable water pipelines. It is injected in small amounts (parts per million) and is used to reduce the frictional pressure drop along the pipeline's length. Its use has allowed pipeline systems to greatly increase in traditional capacity and extend the life of existing systems.
The global drag reducing agent market was 181.7 MT in 2016 and is expected to increase to 316.3 MT by 2023. Overall, the drag reducing agent market performance is positive with the global economic recovery.
The technical barrier of drag reducing agent is high, and dominated by certain companies, such as LSPI, Baker Hughes, Flowchem, Innospec, Oil Flux Americas, NuGenTec and son on. Production of drag reducing agent mainly distributes in USA and China.
As for consumption, the largest consumption volume comes from the North America region. In 2016, the region consumed about 46.51% drag reducing agent globally. USA plays a key role in the regions. The follower consumer is Asia-Pacific, with 34.1 MT being consumed in the same year.
Over the next five years, LPI(LP Information) projects that Drag Reducing Agent will register a 7.1% CAGR in terms of revenue, reach US$ 1290 million by 2023, from US$ 850 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Drag Reducing Agent market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- High Viscosity Glue
- Low Viscosity Glue
- Rubber Latex
Segmentation by application:
- Oil & Gas Industry
- Chemical Transportation
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- LiquidPower Specialty Products
- Baker Hughes
- Oil Flux Americas
- Sino Oil King Shine Chemical
- Superchem Technology
- The Zoranoc Oilfield Chemical
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Drag Reducing Agent consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Drag Reducing Agent market by identifying its various subsegments.
- Focuses on the key global Drag Reducing Agent manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Drag Reducing Agent with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Drag Reducing Agent submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.