Viscosity Reducing Agents Market Set to Witness Steady Growth through (2016-2026)

Viscosity is basically the resistance offered during the flow of the fluids due to natural presence of internal friction between their particles. Fluid with high viscosity resists the motion as its molecular design offers a significant amount of internal friction. The physical significance of viscosity can be understood by the example of addition of turpentine into paints so that the paints become thinner, less viscous and suitable for further use.In various applications, high viscosity is undesirable as it reduces work efficiency. The advancements in chemical technology and research & development in this field has led for the emergence of viscosity reducing agents, which can reduce the viscosity of the fluids without changing their chemical properties and effectiveness.

Viscosity reducing agents are also known as the drag reducing agents, the additives that reduce the turbulence and improves the flow of fluids. Viscosity reducing agents are widely used in oil pipelines to improve the flow capacity and thus improving the productivity. They also reduce energy losses in pipelines. On crude oil exploration and production sites, the raw crude oil is highly viscous and thick in nature. The process to pump this heavy crude oil from the source becomes highly energy intensive. The addition of viscosity reducing agents reduces the viscosity of the crude oil, and in turn, the power requirement for pumping is also reduced. This lead to enhancement of the production efficiency of the plant along with decrease in production costs. Use of viscosity reducing agents also increases the overall operating life of transportation system of oil industries.

The viscosity reducing agents find their utilization across various industries as they reduce the problem of choking in pipelines and ducts and increase the transportation and process efficiency. In addition,the viscosity reducing agents are non-toxic and non-polluting in nature. Apart from their use in chemical and process industries, several test and research studies are being carried on animals if these viscosity reducing agents can be used in arteries and veins to increase the blood flow. The benefits of using viscosity reducing agents, increased pipeline throughput and energy savings, are expected to drive the demand for their market over forecast period 2016-2026.

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Market dynamics:

The key driver for the growth of viscosity reducing agents market is the intrinsic benefits from their use. Viscosity reducing agents provide an economic and efficient way of material transportation over pipeline network. These chemicals play a crucial role in various industries, especially in the petrochemical industry, wherein the transportation of viscous crude oil is done with the help of large pipeline networks. However, the viscosity reducing agents market is dependent on other industries and their demand becomes a function of performance of other industries in the global market.

Significant demand for viscosity reducing agents exists in developed regions owing to their proficient use for increasing efficiency across various process industries. In developing economies, the market for viscosity reducing agents is expected to increase due to growing industrialization. There has been a strong move by the industries to switch to chemicals which are eco-friendly and stable in nature. The use of eco-products is expected to act as catalyst for growth of the viscosity reducing agents market.

Market segmentation:

Some of the many ways by which the global viscosity reducing agents market can be segmented includes, on the basis of product type andend use industries.

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On the basis of product type, global viscosity reducing agents market segments into:

Polymers

Surfactants

Dispersants

Additives

Others

On the basis of end-use industries, global viscosity reducing agents market segments into:

Oil and Gas

Cement and Construction

Paints and Coatings

Rubber

Others

Key Players

Some of the key players reported across the value chain of viscosity reducing agents market include NuGenTec, Flowchem, NALCO, Partow Ideh Pars, Thomas Swan & Co. Ltd., Halliburton, Flowlift, Qflo, Lubrizol Specialty Products, Inc., Concophilips, and Oil Flux Americas.

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This release was published on openPR.