Drag Reducing Agent Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies

Global Drag Reducing Agent report from Global Insight Services is the single authoritative source of intelligence on Drag Reducing Agent market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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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.

Key Trends
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.

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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.

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.

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