Drag Reduction Agent Market Size to Enlarge with Growing Revenue at 10.2% of CAGR till 2026 | Baker Hughes, Partow Ideh Pars., LiquidPower Specialty Products Inc., Oil Flux Americas, NuGenTec, Innospec

Market Size - USD 930.4 Million in 2018, Market Growth - CAGR of 10.2% in the year 2026, Market Trends - Growth in Oil & gas, chemical and agricultural industry and the introduction of DRA's to the medical field.

According to the current analysis of Reports and Data, the global DRA market was valued at USD 930.4 million in 2018 and is expected to reach USD 2.04 Billion by year 2026, at a CAGR of 10.2%. 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.

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Companies considered and profiled in this market study
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

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.

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.

Further key findings from the report suggest

o 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.

o 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.

o 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.

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o 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.

o 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.

o North America consumed about 40.75% drag reducing agent globally, the key player being the USA, followed by MEA, with 27 K MT being consumed in the same year.

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)
o High Viscosity Glue
o Low Viscosity Glue
o Rubber Latex

Application Outlook (Revenue USD Million; Volume in Tons, 2016-2026)
o Crude Oil
o Irrigation
o Blood Treatment
o Chemical Transportation
o Other Application

Regional Outlook (Revenue USD Million; Volume in Tons, 2016-2026)
o North America
o Europe
o Asia Pacific
o Middle East & Africa
o Latin America

Read the Comprehensive Report with a meticulous TOC and panoramic coverage of the market: https://www.reportsanddata.com/report-detail/drag-reducing-agent-market

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