Drag Reduction Agent Market Size, Share & Analysis By Product Type, By Application, By Region, Forecasts to 2027

Growing number of chemical companies, agricultural activities, and oil and gas exploration activities at a global scale is a key factor driving market revenue growth.

Market Size - USD 1,136.6 Million in 2020, Market Growth - CAGR of 9.7%, Market Trends - Rising investment in R&D for use of Drag Reduction Agent (DRA) in medical applications.

The global drag reduction agent market size is expected to reach USD 2,395.8 Million in 2028, and register a CAGR of 9.7% during the forecast period. Increasing consumption of crude oil as well as biofuels across the globe, and growing use of drag reduction agent as a material that aids in reducing frictional pressure loss in a pipeline carrying petrol, fuel, or liquid chemicals, which in turn, enhances flow while using a decreased amount of energy are major factors driving market growth.

However, stringent regulations for use of non-renewable resources and depleting crude oil, and shifting trend towards using solar energy in power and energy sector are factors that could hamper growth of the global drag reduction agent market to some extent.

Some Key Findings From the Report:

• Among the product grade segments, the high viscosity glue segment accounted for a revenue share of 65.5% in 2020.
• Among the application segments, the crude oil segment accounted for the largest revenue share in 2020. The blood treatment segment is expected to register the highest revenue growth rate during the forecast period.
• North America market accounted for the largest revenue share in 2020, followed by Europe market.
• The Asia Pacific market size was USD 238.7 Million in 2020, and is expected to register a robust revenue CAGR during the forecast period, due to agriculture or irrigation sector being one of the major GDP contributors to respective countries in the region, and presence of large number of chemical companies in countries in the region.
• Key players profiled in the report include Baker Hughes, National Petroleum Corporation, Partow Ideh Pars., Oil Flux Americas, NuGenTec, Innospec, Lubrizol Specialty Products Inc., The Zoranoc Oilfield Chemical, and Flowchem. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
• In 2017, LiquidPower Specialty Products Inc., announced commissioning of new DRA manufacturing plant in order to cater to ongoing product demand globally.
• In 2017, a global specialty chemicals provider - KMG, acquired Flowchem, a part of Arsenal Capital Partners, which is a pipeline-performance products manufacturer.

For the purpose of this report, the global drag reduction agent market is segmented on the basis of product type, application, and region:

Product Type Outlook

• High Viscosity Glue
• Low Viscosity Glue
• Rubber Latex

Application Outlook

• Crude Oil
• Irrigation
• Blood Treatment
• Chemical Transportation
• Others

Region Outlook

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Benelux
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East & Africa

Reasons to Buy the Report

• A robust analysis and estimation of the Drag Reduction Agent Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
• A holistic competitive landscape of the all the major players in Drag Reduction Agent Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
• Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
• Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
• Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization