Global Drag Reducing Agent Market 2024-2028
The drag reducing agent market is forecasted to grow by USD 93.1 mn during 2023-2028, accelerating at a CAGR of 5.97% during the forecast period. The report on the drag reducing agent market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing application of drag reducing agents in oil and gas industry, friction resistance and other excellent properties, and rising complexity in offshore field operations.
Technavio's drag reducing agent market is segmented as below:
By Application
- Crude oil
- Chemical transportation
- Others
By Product
By Geographical Landscape
- North America
- Middle East and Africa
- APAC
- Europe
- South America
This study identifies the emergence of bio-based drag-reducing polymers as one of the prime reasons driving the drag reducing agent market growth during the next few years. Also, growing importance of cost-efficient drag-reducing agents and increasing use of drag-reducing agents in medical applications will lead to sizable demand in the market.
The report on the drag reducing agent market covers the following areas:
- Drag reducing agent market sizing
- Drag reducing agent market forecast
- Drag reducing agent market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading drag reducing agent market vendors that include Baker Hughes Co., Berkshire Hathaway Inc., China National Petroleum Corp., Deshi Energy Technology Group Co.,Ltd, Dorf Ketal Chemicals I Pvt. Ltd., Evonik Industries AG, Finoric LLC, Flowchem, Indian Oil Corp. Ltd., Innospec Inc., Jiangyin Huaheng Auxiliary Co., Ltd., KMG Chemicals, Monsoon Oilfield Ltd., NuGenTec, Oil Flux Americas LLC, Partow Ideh Pars Co. P.J.S, Specialized Technologies for Industrial Services Co., The Lubrizol Corp., The Zoranoc Oilfield Chemical, and Weifang Xinchang Chemical Co. Ltd.. Also, the drag reducing agent market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.