The global drag reduction agent market is estimated to reach USD 2.24 Billion in 2027 from USD 930.4 Million in 2019, delivering a CAGR of 10.2% through the forecast period. The study segments the global DRA market based on product type, product, application, and end-use. The research takes a closer look at prominent driving factors responsible for this 10.2% CAGR. The study also analyses the market share of each region, company, and product. The report also presents constraints, opportunities, threats, challenges, and Investment opportunities prevailing in the market.
Drag-reducing agents are additives in any pipelines or
conduits that reduce frictional pressure loss during flow of fluid. They are
most commonly used in petroleum pipelines for increasing the pipeline capacity
by reducing turbulence and allowing the oil to flow more efficiently,
therefore, allowing the oil to be pumped through at lower pressures, saving
energy and money.
Baker Hughes, Partow Ideh Pars., LiquidPower Specialty
Products Inc., Oil Flux Americas, NuGenTec, Innospec, Lubrizol Specialty
Products Inc., Sino Oil King Shine Chemical, Flowchem, National Petroleum
Corporation, and The Zoranoc Oilfield Chemical are dominating players in the
market and are the companies considered for this report.
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The surge in oil & gas exploration activities, the
growth of chemical industries and agricultural activities across the globe will
be the market’s primary driving factors. Drag reduction agents are primarily
used for reducing frictional pressure loss during fluid flow in any conduit or
pipeline. Recently, there has been detailed research done on the development of
drag-reducing agents for the treatment of tumor cells and reducing the drag of
blood through arteries and veins, which is expected to boost the market
further.
DRA market is that it largely depends on other industries
like oil & gas fracturing, which is its primary restraining factor. This
implies that as the oil & gas industry fluctuates so will the DRA market.
Since numerous corporations are shifting towards environmental-friendly
practices, the oil & gas industry is predicted to fall, therefore hampering
this market.
For this report, Reports and Data have segmented the Drag
Reduction Agent market based on ingredient, product type, application, end-use,
and region:
Product Type (Revenue USD Million; Volume in
Tons, 2016-2026)
- High
Viscosity Glue
- Low
Viscosity Glue
- Rubber
Latex
Application Outlook (Revenue USD Million; Volume
in Tons, 2016-2026)
- Crude
Oil
- Irrigation
- Blood
Treatment
- Chemical
Transportation
- Other
Application
Regional Outlook (Revenue USD Million; Volume in
Tons, 2016-2026)
- North
America
- Europe
- Asia
Pacific
- Middle
East & Africa
- Latin
America
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Further
key findings from the report suggest
- Currently,
the market is estimated at USD 930.4 million and is predicted to grow at a
CAGR of 10.2%, forecasting global valuation at 2.04 Billion USD in 2026.
- The
major driving forces are the growth in oil & gas expeditions, chemical
refinement, and agricultural activities. All these activities involve the
passing of some sort of fluid through a tube which is where DRA’s come
into play. It reduces the friction inside the pipe, allowing efficient
flow of fluid through these tubes.
- The
primary purpose and advantage of DRA’s are it lowers pipeline frictional
pressure loss by reducing the turbulence in the flow. It also alleviates
constraints in a pipeline, overall allowing the flow rate across the
pipeline to be increased. Accelerating flow rate allows the operator to
save pumping energy as the pressure required to maintain the flow is
reduced, thereby drastically reducing energy management costs.
- DRA’s
are extremely easy to install as it is injected directly into pipeline
products, using injection pumps and tanks and hence doesn’t require
significant capital expenditures. It reduces friction, thus having a
property of reducing heat. Pipelines that use DRA’s have been shown to
have lower heat transfer properties, lowering heat transference to the
surrounding pipelines. Thus using DRA’s make oil fields safer. Since it
has a low-cost, high benefit ratio, most players in the field tend to
install them.
- DRA’s
are mostly used in the petroleum market due to the number of pipelines
that are used in the industry. After petroleum, it is mainly used in the
chemical transportation market.
- Different
liquids require different strengths of DRA’s. The heavier the liquid, the
stronger the DRA needs to be. The most transported liquid in the petroleum
industry is heavy crude oil and requires high viscosity glue making it the
most popular DRA product…Continued
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