Drag Reducing Agent Market Size Worth $1,109.10 Million By 2032 | CAGR: 5.7%

The global drag reducing agent market size is expected to reach USD 1,109.10 Million by 2032, according to a new study by Polaris Market Research. The report “Drag Reducing Agent Market Share, Size, Trends, Industry Analysis Report, By Product Type (Polymer, Surfactant, Suspension); By Application; By End Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Pipeline drag reducers have proven to be a very effective instrument for moving fluids. High-molecular-weight polymers are utilized in aqueous, refined, and crude oil pipelines to lower the frictional pressure loss ratio. Governments are stepping forward to increase crude oil pipeline capacity due to the rising demand for hydrocarbons. The Zambian government is looking forward to increasing the pipeline capacity of TAZAMA by at least 30%. The Ministry of Energy is boosting the procurement of drag-reducing agents, which will assist in increasing pipeline capacity. According to the commercial literature, it can boost pipeline capacity by an additional 50%. For DRAs to meet these capacity objectives, there is a direct market need for these chemical additions. The need to meet global energy requirements is driving the demand for DRAs. It is expected to increase in demand as more pipeline owners look to maximize capacity and transport effectiveness. 

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Companies that transport oil must improve their operational effectiveness and transit capacity. Injecting flow improvers can greatly lower the frictional pressure drops, which are accountable for energy losses & hindering the throughput of oil pipelines. More energy consumption in the pipe-line system caused by the substantial pressure losses in the turbulent flows is widely known to be a serious problem for the fluid flows in industrial piping systems.

Two significant obstacles must be overcome in order to improve crude oil flow conditions in long pipelines: apparent viscosity reduction and drag reduction. The most effective and useful approaches to solving these issues are chemical ones. A common technique is to add a small number of DRAs to the flowing crude oil in order to reduce the pressure drop through a pipeline. Due to the efficiency of the transportation of fluids by drag-reducing agents, their demand will increase soon.

Drag Reducing Agent Market Report Highlights

• The polymer segment will grow at a rapid pace due to increased pipeline capacity and increased demand
• Crude Oil segment held the largest share, owing to its ability to reduce energy consumption in fluid transportation.
• The oil & Gas segment garnered the largest revenue share due to the reduction in maintenance costs.
• APAC will grow at a steady pace, owing to an increase in government initiatives to promote the oil and gas industry.
• North America garnered the largest share due to rising demand for natural gas in the region.
• The global players include Lubrizol Specialty, Baker Hughes, Oil Flux Americas Flowchem, Innospec, NuGenTec, & Sino Oil King Shine Chemical.

Polaris Market Research has segmented the drag reducing agent market report based on product type, application, end use and region:

Drag Reducing Agent, Product Type Outlook (Revenue - USD Million, 2019 - 2032)

• Polymer
• Surfactant
• Suspension

Drag Reducing Agent, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Crude Oil
• Multi-phase Liquid
• Refined Products
• Heavy, Asphaltic Crude
• Water Transportation

Drag Reducing Agent, End Use Outlook (Revenue - USD Million, 2019 - 2032)

• Oil & Gas
• Chemicals & Petrochemicals
• Power & Energy
• Agriculture
• Others

Drag Reducing Agent, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Drag Reducing Agent Market Report Scope