NEW
YORK, Aug. 14, 2024 /PRNewswire/ -- The
global drag reducing agent market size is estimated to
grow by USD 93.1 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of about 5.97% during the forecast
period. Increasing application of drag reducing agents in oil
and gas industry is driving market growth, with a trend
towards emergence of bio-based drag-reducing polymers.
However, nanotechnology and biotechnology poses a
challenge. Key market players 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..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Crude oil,
Chemical transportation, and Others), Product (Polymer, Surfactant,
and Others), and Geography (North America, Middle East and Africa,
APAC, Europe, and South America)
|
Region
Covered
|
North America, Middle
East and Africa, APAC, Europe, and South America
|
Key companies
profiled
|
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.
|
Key Market Trends Fueling Growth
Bio-based polymers, produced by living organisms, have gained
significant attention due to the depletion of fossil fuel resources
and environmental concerns. These water- and oil-soluble polymers
exhibit efficient drag-reduction capabilities, making them valuable
in turbulence flow applications. Their rheological properties and
chain flexibility under shear and extensional forces influence
turbulence behavior. Bio-based polymers are used extensively in oil
production and pipeline transportation. Small quantities of these
agents yield high drag reduction efficiency in both aqueous and
organic liquids. Traditional synthetic polymers, which have adverse
environmental impacts and safety concerns, are being replaced by
bio-based alternatives. This shift is expected to boost the global
drag reducing agent market, making bio-based polymers a promising
solution for drag reduction applications.
The Drag Reducing Agent (DRA) market is experiencing significant
growth due to increasing demand for efficient fluid flow in various
industries. In petroleum production, DRAs help reduce frictional
pressure and pressure loss in conduits, enhancing the flow rate of
crude oil and refined petroleum. In the oil field,
nanotechnology-based DRAs are trending, offering adaptability to
pipeline conditions and multiphase liquids. Chemical processing and
water transportation sectors also benefit from DRAs, minimizing
resistance and ensuring consistent flow. Energy consumption and
operating expenses are key concerns, making DRAs essential for
infrastructure alterations and refinery operations. The future
market for DRAs is promising, with applications in fuels like
diesel, petrol, and natural gas. The polymer segment, particularly
polymers and additives, is a significant contributor to the DRA
market. Overall, DRAs play a crucial role in optimizing energy
requirement and improving flow in diverse industries.
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Market Challenges
• The
drag-reducing agent market has been traditionally dominated by
petroleum-based products due to their efficiency in reducing
friction in pipelines and transport systems for liquids and gases.
However, emerging technologies such as nanotechnology and
biotechnology present new opportunities and challenges to this
market. Nanotechnology utilizes nanoscale materials to manipulate
substances, potentially leading to the development of more
effective drag-reducing agents. For instance, nanoparticles can be
added to fluids to reduce friction and enhance fluid flow,
resulting in increased pipeline efficiency and lower energy costs.
Biotechnology, on the other hand, involves utilizing living
organisms to produce new products. In the context of drag-reducing
agents, biotechnology could lead to the development of renewable
and biodegradable agents, offering a more sustainable alternative
to conventional petroleum-based products. The creation of such
agents could potentially disrupt the market for traditional
drag-reducing agents and shift the focus towards more sustainable
options. This shift may be driven by increasing consumer and
business demand for eco-friendly solutions and the potential for
cost savings. Overall, the integration of nanotechnology and
biotechnology in the drag-reducing agent market presents both
opportunities and challenges, requiring companies to adapt and
innovate to remain competitive.
• The Drag
Reducing Agent (DRA) market in the oil sector faces several
challenges. In oil exploration wells and natural gas production,
suspended solids and turbulence can impact pipeline operations,
leading to increased energy consumption and reduced pipeline
capacity. DRAs, such as surfactants and nanofluids, are used to
improve laminar flow and reduce drag in petroleum pipelines. In the
gas refining and petrochemical industry, the demand for DRAs is
high due to the need for efficient fluid transportation. Leading
manufacturers are focusing on collaborations, mergers, and
acquisitions to expand their product offerings, including biobased
polymers and mucilage-based DRAs. The Crude oil segment, including
crude oil transportation and oil exploration, also requires DRAs to
reduce drag and improve efficiency. Liquefied petroleum gas and the
transportation sector are significant markets for DRAs, as they
require efficient transportation to meet growing demand. Government
initiatives and the Energy Information Administration are promoting
the use of DRAs to increase pipeline capacity and reduce greenhouse
gas emissions. The market for DRAs is diverse, with applications in
various industries, including petrochemicals, plastics,
fertilizers, and raw materials.
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challenges - Download a Sample Report
Segment Overview
This drag reducing agent market report extensively covers market
segmentation by
- Application
- 1.1 Crude oil
- 1.2 Chemical transportation
- 1.3 Others
- Product
- 2.1 Polymer
- 2.2 Surfactant
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Middle East and
Africa
- 3.3 APAC
- 3.4 Europe
- 3.5 South America
1.1 Crude oil- Drag-reducing agents are effective
additives used in the crude oil industry to minimize energy loss
during pipeline transport. These agents alter the frictional
pressure in the pipeline by modifying the thixotropic
characteristics of the crude oil mass. By doing so, they decrease
turbulence in the pipeline, lowering pipeline pressure and enabling
a high flow stream at the same pressure. Drag-reducing agents are
beneficial for moving crude oil of varying API degrees and
viscosity through production and extraction casing, upstream
gathering systems, midstream pipelines, tankers, storage tanks, and
delivery flow stream systems, all the way to refineries. Their
ability to prevent clogged production wells and flow stream
processes makes them a popular choice in the industry. The global
drag reducing agent market is witnessing growth due to the
increasing demand for these agents in crude oil applications.
Several vendors offer a wide range of drag-reducing agents to cater
to this demand.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Drag Reducing Agent (DRA) market is expected to grow
significantly in the future due to the increasing demand for
efficient fluid transportation in various industries. DRAs are
chemical additives used in pipelines to reduce the drag force
acting on the flowing fluids, thereby increasing pipeline capacity
and reducing energy consumption. The market scope includes
flow-improving products for gas segment, polymers, additives, and
multiphase liquids. Crude oil, refined petroleum, diesel, petrol,
natural gas, water, and energy sources are among the primary
applications. DRAs are essential for pipeline operations in the
transportation sector, particularly in petroleum pipelines, to
mitigate turbulence and ensure laminar flow. Drugreducing polymers
are a type of DRAs used in the petrochemical industry to enhance
the efficiency of fluid transportation and improve pipeline
capacity. The market is driven by the rising demand for
petrochemical products and the need to increase the efficiency of
fluid transportation in the energy sector.
Market Research Overview
The Drag Reducing Agent (DRA) market is expected to grow
significantly in the future due to the increasing demand for
efficient fluid transportation in various industries, particularly
in the gas segment. DRAs are additives used in pipelines to reduce
turbulence and friction, thereby increasing pipeline capacity and
reducing pressure drop. They are used in the transportation of
crude oil, refined petroleum, multiphase liquids, water, and energy
sources such as natural gas, diesel, petrol, and liquefied
petroleum gas. DRAs are used in the oil sector for crude oil
transportation, oil exploration, and natural gas production. The
petrochemical industry also utilizes DRAs in gas refining and the
production of petrochemical products like plastics and fertilizers.
The market for DRAs includes flow-improving products such as
surfactants, suspended solids, biobased polymers, mucilage, and
drugreducing polymers. Leading manufacturers in the market are
focusing on collaborations, mergers, and acquisitions to expand
their product offerings and increase their market share. DRAs are
also used in nanofluids and are finding applications in the
transportation industries, development activities, and government
initiatives aimed at increasing efficiency in fluid transportation.
The adaptability of DRAs to different pipeline conditions and their
ability to improve flow rate make them an essential component in
the oil and gas industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Crude Oil
- Chemical Transportation
- Others
- Product
-
- Polymer
- Surfactant
- Others
- Geography
-
- North America
- Middle East And Africa
- APAC
- Europe
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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