New York, According to a new market research report published by Global Insight Services “Drag Reducing Agent Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A drag-reducing agent is a substance that is added to a fluid in order to reduce the fluid’s drag force. Drag force is the force that opposes the motion of an object through a fluid. The drag force is proportional to the fluid’s viscosity and the object’s velocity. The addition of a drag-reducing agent to a fluid can reduce the fluid’s viscosity, and thus the drag force. Drag reducing agents are used in a variety of applications, including the transportation of fluids through pipelines.
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Key Trends
There is a few key trends in Drag Reducing Agent (DRA) technology.
One is the development of new and more effective DRAs. Another is the miniaturization of DRA delivery systems, which has led to more widespread use of DRAs in a variety of applications.
New and more effective DRAs are being developed all the time. Some of the latest developments include the use of nanotechnology to create DRAs that are more effective at lower concentrations, and the use of enzymes to break down DRAs that are no longer needed.
Miniaturization of DRA delivery systems has led to more widespread use of DRAs in a variety of applications.
Key Drivers
Some of the key drivers of Drag Reducing Agent market are as follows:
The rising demand for fuel efficiency is one of the key drivers of the Drag Reducing Agent market. With the rising prices of crude oil, there is a need to develop fuel-efficient products and technologies.
Stringent emission regulations are another driver of the Drag Reducing Agent market. With the increasing awareness of the harmful effects of emissions, various governments have imposed stringent regulations on emission levels.
Increasing focus on reducing greenhouse gas emissions is another driver of the Drag Reducing Agent market. With the signing of the Paris Agreement, there is a need to develop products and technologies that can help in reducing greenhouse gas emissions.
Increasing adoption of advanced technologies is another driver of the Drag Reducing Agent market. With the increasing adoption of advanced technologies, there is a need for products that can help in reducing drag.
Market Segments
The drag reducing agent market is segmented by type, application, end use, and region. By type, the market is classified into the polymer, surfactant, and suspended solids. Based on application, it is bifurcated into crude oil, refined products, and others. On the basis of end-use, it is divided into oil & gas, chemicals, power, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global drag reducing agent market includes players such as 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, and others.
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Reasons to buy Drag Reducing Agent Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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