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Written by Nathan Lyonn » Updated on: November 19th, 2024
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 share, size, trends, 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 substance incorporated into liquids, typically hydrocarbons, with the purpose of diminishing frictional resistance or drag within pipelines, leading to improved flow efficiency. Also recognized as flow improvers or pipeline drag reducers, these agents alter the fluid dynamics by modifying the boundary layer of the flowing liquid, thereby minimizing turbulence and facilitating smoother transportation. Particularly significant in industries such as oil and gas, where efficient fluid conveyance is vital, DRA’s enhance pipeline throughout, decrease pumping requirements, and lower energy consumption. Their advantages are particularly pronounced in pipelines dealing with high-viscosity fluids or covering long distances, contributing to heightened operational efficiency and cost-effectiveness in fluid transport systems.
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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. The market for drag reducing agents (DRAs) is experiencing substantial growth, fueled by the growing demand for efficient and cost-efficient solutions in the transportation of fluids through pipelines. Industries, particularly in oil and gas, are increasingly recognizing the pivotal role of DRAs in optimizing pipeline operations by reducing friction and turbulence, thereby improving flow efficiency and throughout. This market expansion is driven by the global increase in pipeline infrastructure, a growing emphasis on energy conservation, and ongoing advancements in DRA technologies. Major industry players are actively engaged in research and development to introduce innovative formulations that cater to diverse industry needs. Given the escalating focus on sustainable and cost-effective fluid transportation, the DRA market is poised for sustained growth across various sectors, contributing to enhanced pipeline performance and operational effectiveness. 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:
By Type:
By Application:
By End-Use Industry:
By Flow Regime:
Segmentation By Region:
North America:
Asia Pacific:
Europe:
Latin America:
The Middle East & Africa:
Who are the key players operating in the industry?
The report covers the major market players including:
Discover more: https://www.reportsandinsights.com/report/drag-reducing-agent-market
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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