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According to our LPI (LP Information) latest study, the global Drag Reducing Agent market size was valued at US$ 1178.7 million in 2023. With growing demand in downstream market, the Drag Reducing Agent is forecast to a readjusted size of US$ 2073.4 million by 2030 with a CAGR of 8.4% during review period.
The research report highlights the growth potential of the global Drag Reducing Agent market. Drag Reducing Agent are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Drag Reducing Agent. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Drag Reducing Agent market.
Drag reducers, also known as drag reducing agents (DRA) and flow improvers, are any material that reduces frictional pressure loss during fluid flow in a conduit or pipeline. Pressure loss reduction is achieved by reducing the level of turbulent motion in the flow. Using DRA allows increased flow using the same amount of energy or decreased pressure drop for the same flow rate of fluid in pipelines.
The technical barrier of drag reducing agent is high, and dominated by certain companies, such as LiquidPower Specialty Products, Baker Hughes, Flowchem, Innospec, Oil Flux Americas and NuGenTec, with about 72% market shares.
As for consumption, the largest consumption volume comes from the North America region. The region consumed about 40.48% drag reducing agent globally.
Key Features:
The report on Drag Reducing Agent market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Drag Reducing Agent market. It may include historical data, market Segmentation by Type (e.g., High Viscosity Glue, Low Viscosity Glue), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Drag Reducing Agent market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Drag Reducing Agent market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Drag Reducing Agent industry. This include advancements in Drag Reducing Agent technology, Drag Reducing Agent new entrants, Drag Reducing Agent new investment, and other innovations that are shaping the future of Drag Reducing Agent.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Drag Reducing Agent market. It includes factors influencing customer ' purchasing decisions, preferences for Drag Reducing Agent product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Drag Reducing Agent market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Drag Reducing Agent market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Drag Reducing Agent market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Drag Reducing Agent industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Drag Reducing Agent market.
Market Segmentation:
Drag Reducing Agent market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by 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:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- LiquidPower Specialty Products
- Flowchem
- GE(Baker Hughes)
- Innospec
- Oil Flux Americas
- NuGenTec
- Sino Oil King Shine Chemical
- DESHI
- Qflo
- Superchem Technology
- The Zoranoc Oilfield Chemical
- CNPC
Key Questions Addressed in this Report
What is the 10-year outlook for the global Drag Reducing Agent market?
What factors are driving Drag Reducing Agent market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Drag Reducing Agent market opportunities vary by end market size?
How does Drag Reducing Agent break out type, application?