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Global Drag Reducing Agent Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Drag Reducing Agent Market Was 201.1 K MT In 2018
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 global drag reducing agent market was 201.1 K MT in 2018 and is expected to increase to 347.8 K MT by 2025. Overall, the drag reducing agent market performance is positive with the global economic recovery.
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, NuGenTec and son on. Production of drag reducing agent mainly distributes in USA and China.
As for consumption, the largest consumption volume comes from the North America region. In 2018, the region consumed about 40.48% drag reducing agent globally. USA plays a key role in this region. The follower consumer is Asia-Pacific, with 52.3 K MT being consumed in the same year.
Recent years, supported by various countries’ policies and oil & gas development, the demand in downstream increases rapidly, stimulating the drag reducing agent industry correspondingly. The increased consumption of drag reducing agent is expected to continue during the remaining years of the forecast period of 2020-2025. It is estimated that global market of drag reducing agent will be worthy of 1757.62 million USD in 2025, with the CAGR of 10.03% during the period.
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Related Information:
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Asia-Pacific Saddle Washers Market 2019 Forecast to 2024
Europe Saddle Washers Market 2019 Forecast to 2024
EMEA Saddle Washers Market 2019 Forecast to 2024
Global Saddle Washers Market 2019 Forecast to 2024
China Saddle Washers Market 2019 Forecast to 2024
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