Market Definition:
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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Market Outlook:
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.
Restraints & Challenges
One of the key restraints in the Drag Reducing Agent market is the cost of these agents. They are relatively expensive and this can limit their use in some applications.
Additionally, Drag Reducing Agents can sometimes have negative impacts on the performance of equipment and systems in which they are used. This can be a challenge in terms of ensuring their safe and effective use.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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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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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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