Industry Background:
A drag reducing agent, also known as a flow improver or pipeline booster, is dramatically increase the pipeline flow rate or can be used as a drag reducer to decrease the energy costs. A drag reducing agent is an anti-turbulent polymer chemical that when injected into a pipeline, where the fluid is turbulent can modify the flow system by reducing the frictional pressure drop along the pipeline length. Also, it acts as a flow improver to pipelines that can either provide an increase in flow or alternatively maintain the same flow rate while using considerably less energy. Further, it immediately increase throughput capacity or save on energy and costs. The global drag reducing agents market is expected to witness a high growth owing to increasing exploration activities and the growth of the oil & gas industryThis growth is primarily driven by Increasing exploration activities and the growth of the oil & gas industry
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tonnes |
Value Unit | USD (Million) |
Dominating Type | High viscosity glue |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Specialty Chemicals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Baker Hughes (United States), Flowchem (United States), Innospec (United States), Liquid Power Specialty Products Inc. (United States), NuGenTec (United States), Sino Oil King Shine Chemical (China), Clariant (Switzerland), China National Petroleum Corporation (China), Nalco Champion (United States) and Partow Ideh Pars. (Iran), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In August 2022, WellBoss Company ("WellBoss"), a prominent supplier of multi-stage completion equipment, entered into a strategic supply agreement with energy technology company Baker Hughes. This agreement allows for the utilization of WellBoss Smart Dart™ technology by Baker Hughes outside of North America land and China., and In February 2023, Today, Solecta, Inc. and The Lubrizol Corporation collaborated aimed at the development and marketing of innovative membrane solutions. These solutions are intended to enhance productivity and increase efficiencies within the global separations industry.
Influencing Trend:
Increasing demand chemical industries across the globe
Market Growth Drivers:
Increasing exploration activities and the growth of the oil & gas industry and The rising demand for drag reducing agents for irrigation purposes owing to growth in agricultural activities
Challenges:
Slowdown in world economic growth
Restraints:
Not suitable for laminar flow and Degrade by age, it loses its effectiveness after few days
Opportunities:
The advanced development in drag reducing agents
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Drag Reducing Agent Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Drag Reducing Agent Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Drag Reducing Agent players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Drag Reducing Agent Study Sheds Light on
The Drag Reducing Agent Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Drag Reducing Agent industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Drag Reducing Agent industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.