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Global Market Insights on Drag Reducing Agents

 

Drag Reducing Agents: Introduction

·         Drag reducing agents are high molecular weight substances that are added to a pipeline in order to reduce turbulence and thereby increase the capacity and efficiency of flow through the pipeline. Turbulence in pipelines is caused by friction or interaction between the flowing fluid and the pipe wall. Drag reducing agents reduce the interaction and contact between the wall and the fluid. They are injected in flow streams in small quantities. Drag reducing agents are commonly used in oilfields. They help decrease the pressure drop along the pipeline. This helps lower the pumping cost and energy consumption. Drag reducing agents are prone to degradation due to their high molecular weight.

Key Drivers of Global Drag Reducing Agents Market

·         The drag reducing agents market is expected to expand at a significant pace during the forecast period. Drag reducing agents are increasingly used in the medical field. They are administered for metastasizing tumor cells. These agents reduce drag in veins and arteries, and regularize the blood flow. This prevents potential tumor cells from settling down and also deprives them of nutrients.

·         Rise in demand for crude oil owing to the growth in end-use industries such as petrochemicals, energy generation, and oil & gas is boosting the drag reducing agents market. Drag reducing agents are used to improve crude oil productivity and flow capacity. This is also driving the demand for these agents in crude oil extracting, transportation, and refining.

·         Companies operating in the drag reducing agents market are increasingly focusing on biomaterials, such as plant polysaccharides, that can function as drag reducing agents. Plant polysaccharides offer better resistance to mechanical degradation that drag reducing agents undergo. Polysaccharides obtained from the aloe vera plant and okra are found to have more mechanical resistance than many of the synthetic drag reducing agents.

Biomaterial Type Segment to Dominate Global Market

·         Based on type, the biomaterial segment accounted for major share of the global drag reducing agents market in 2020, owing to its use in medical applications

·         Biomaterials such as plant polysaccharides (xylan, guar gum, etc.) are increasingly used as drag reducing agents. Biomaterials is expected to be a rapidly growing segment of the drag reducing agents market in the near future.

·         Surfactants that are used as drag reducing agents can be classified as anionic, cationic, and non-ionic surfactants. Drag reducing agents can be added to various fluids such as crude oil, refined products, multiphase liquids, heavy asphaltenic crude oil, water, and chemicals.

·         The oil & gas industry is the largest consumer of drag reducing agents. The usage of drag reducing agents in medical applications for the treatment of tumors is under extensive research. Medical applications of drag reducing agents are expected to increase at a rapid pace in the near future.

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COVID-19 Impact on Drag Reducing Agents Market

·         Temporary closure of production activities in various end-use industries has led to weakened production and demand for various products. Furthermore, decrease in oil & gas exploration activities and manufacturing capacities have adversely affected the demand for drag reducing agents. However, gradual recovery of the economy and the stability across the market depending on the course of COVID-19's prevalence and subsequent resumption of manufacturing activities are expected to drive the demand for drag reducing agents in the near future.

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Asia Pacific to Hold Significant Share of Global Drag Reducing Agents Market

·         In terms of region, the global drag reducing agents market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific dominated the global market for drag reducing agents in 2020. The market in the region is estimated to expand significantly during the forecast period, largely driven by expansion of the oil & gas sector.

·         The U.S. was a major country for drag reducing agents in North America in 2020. Drag reducing agents are being used in crude oil production and various medical applications in the country. Growth in production of oil and gas is expected to fuel the drag reducing agents market in the region during the forecast period.

·         Exploration activities are likely to increase significantly in Europe. Thus, consumption of drag reducing agents is estimated to rise significantly in the region in the near future. The market in Middle East & Africa is anticipated to expand at significant pace, led by the strong presence of the oil & gas industry in the region.

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Key Players Operating in Market

The drag reducing agents market is consolidated, with the presence of a few large players. A few small-scale manufacturers and distributors also cater to various domestic markets. Key players operating in the global drag reducing agents market include:

·         Baker Hughes

·         Flowchem

·         Innospec

·         Lubrizol Specialty Products Inc.

·         NuGenTec

·         Oil Flux Americas

·         Sino Oil King Shine Chemical

·         Superchem Technology

·         The Zoranoc Oilfield Chemical

·         China National Petroleum Corporation

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