Drag Reducing Agent Market is expected to create incremental $ opportunity of US$ 1.4 Bn between 2022 and 2030

Global Drag reducing agent market is estimated to witness a growth rate of 5.6% over the forecast period due to drag reducing agent used extensively in crude oil & gas industry, – according to ChemView Consulting’s Analyst.

According to a research analysis conducted by ChemView Consulting, in 2022, the worldwide drag-reducing agent market was worth US$ 2.6 Bn, and it is expected to grow at a CAGR of 5.6% over the forecast period. The market is expected to hit US$ 4.0 Bn by 2030 end.

The critical factors driving the growth of the Drag reducing agent market are oil and gas consumption, crude oil and natural gas production, and global exploration activities.

Drag reducing agent market 2017-2030: Report Key Highlights:

  • Detailed information on factors that will assist Global drag reducing agent growth during the next eight years
  • Assessment of the historical and current Global Drag reducing agent market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
  • The growth of the Global Cosmetic Ingredients across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
  • Segment-wise, country-wise, and region-wise market analysis
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies

For More Details Visit Our Report Page: https://chemviewconsulting.com/reports/drag-reducing-agent-market/

Key Takeaways

By Application – Crude oil application accounts for the highest market share of drag-reducing agents and is expected to grow significantly in the forecasted period. The surge in crude oil is basically because of the growing energy demand for oil and gas in the market with the rise of exploration activities.

By Region – The Asia Pacific region is estimated to be the fastest growing market with a CAGR of about 7.6% within the estimated period.  India is estimated to hold significant share of 3.8% in the global Drag-reducing Agent market in 2021.

This is due to the numerous initiatives undertaken by the Government of India (GOI) to expand the oil and gas network across the country to reduce transportation costs and improve availability in rural areas.

With its growing energy consumption demand, North America is a great market for the drag-reducing agent in terms of product consumption.

Competition Summary: The market is consolidated with few players accounting for high revenue share. The global drag-reducing agent market’s leading manufacturers are focusing on the introduction of novel biopolymer-based drag-reducing agents.

Some of the key companies covered in the market study includes Flowchem, Baker Hughes, Innospec, Oil Flux Americans, Sino oil king shine Chemical, Superchem technology, NuGen tech, Lubrizol specialty Products Inc., The zoranoc oilfield chemical, China national petroleum corporation, National Petroleum corporation, Liquid power specialty product Inc are anticipated to remain key players in the international business of the Global Drag reducing agent Market.

Segments Covered in Report

By Type:

  • Polymer
  • Surfactant
  • Suspension/suspended solid
  • Biomaterials

By Application:

  • Crude oil
  • Multi-Phase liquid
  • Refined Products
  • Heavy, Asphaltic Crude
  • Water Transportation

By End-use:

  • Oil and gas
  • Chemicals and Petrochemical
  • Power and Energy
  • Agriculture
  • Medical
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

About ChemView Consulting’s Chemicals & Materials Domain

ChemView Consulting’s chemicals & materials domain provides unique, reliable, and in-depth analysis of the chemicals and materials business with the help of its in-house and experienced analysts and subject matter experts. The comprehensive coverage includes bulk, fine, specialty, petrochemicals, innovative materials, composites, and nanotechnology, focusing on “green alternatives,” recycling, and renewable technology advances. In addition, for developing – “The Future Growth Plan,” our research studies serve as market reference guides for chemical manufacturers, research institutes, channel partners, and government agencies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and consulting company serving chemicals & materials, oil & gas, and alternate energy clients worldwide. ChemView Consulting serves clients in approximately 100 countries, with its office in the U.S. and delivery centers in India.

What sets ChemView Consulting apart?

  • Full-time research experts and subject matter experts
  • In-house primary research team
  • The in-house data visualization team
  • Industry-wide network of research partners
  • Database subscriptions
  • The exclusively tailored research process

Contact US

ChemView Consulting
US: +1 315 325 8157
Email ID: sales@chemviewconsulting.com
276 5th Avenue Suite 704 – 3186,
New York NY 10001