Drag Reducing Agent Market Size, Trends & Growth Analysis 2024-2032

(MENAFN- Meridian Market Consultants) The Reports and Insights, a leading market research company, has recently releases report titled “Drag Reducing Agent Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Drag Reducing Agent Market Trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Drag Reducing Agent Market?

The global drag reducing agent market size reached US$ 1.3 billion in 2023. The market to reach US$ 2.1 billion in 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.

What are Drag Reducing Agent?

A drag reducing agent (DRA) is a chemical additive employed in pipelines to diminish turbulence and frictional pressure losses, ultimately enhancing the efficiency of fluid transportation. By modifying the flow characteristics of the fluid, DRAs lower the energy needed to pump liquids through pipelines, resulting in cost savings and higher throughput. DRAs are widely applied in oil and gas pipelines to enhance operational efficiency and decrease maintenance expenses.

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What are the growth prospects and trends in the Drag Reducing Agent industry?

The drag reducing agent market growth is driven by various factors and trends. The drag reducing agent (DRA) market is expanding in response to growing requirements for effective fluid conveyance in industries like oil and gas, mining, and water treatment. These agents, chemical additives that lessen frictional pressure losses in pipelines, enhance fluid flow efficiency and lower energy consumption. Market growth is fueled by the imperative to streamline pipeline operations, cut maintenance expenses, and boost overall operational efficiency. Additionally, advancements in DRA formulations and escalating investments in pipeline infrastructure are driving market growth. Hence, all these factors contribute to drag reducing agent market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

1. By Type:

Polyacrylamide-based DRAs
Polymers-based DRAs
Surfactants-based DRAs

2. By Application:

Crude Oil Flow Assurance
Refined Product Transportation
Slurry Flow in Mining
Other Applications

3. By End-Use Industry:

Oil & Gas
Mining
Chemical
Water Treatment
Others

4. By Flow Regime:

Laminar Flow
Turbulent Flow

Segmentation By Region:

1. North America:

United States
Canada

2. Asia Pacific:

China
India
Japan
Australia & New Zealand
Association of Southeast Asian Nations (ASEAN)
Rest of Asia Pacific

3. Europe:

Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX (Belgium, the Netherlands, Luxembourg)
NORDIC (Norway, Sweden, Finland, Denmark)
Rest of Europe

4. Latin America:

Brazil
Mexico
Argentina
Rest of Latin America

5. The Middle East & Africa:

Saudi Arabia
United Arab Emirates
South Africa
Egypt
Israel
Rest of MEA (Middle East & Africa)

Who are the key players operating in the industry?

The report covers the major market players including:

1. BASF SE
2. Flowchem
3. Clariant AG
4. Baker Hughes
5. Nalco Champion
6. Innospec Inc.
7. LiquidPower Specialty Products Inc.
8. Halliburton Company
9. Schlumberger Limited
10. The Lubrizol Corporation

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