Drag Reducing Agent Market Size to grow by USD 93.1 million between 2024-2028
According to a research report “ Drag Reducing Agent Market” by Application (Crude oil, Chemical transportation, Others) Product (Polymer, Surfactant, Others) Geography (North America, Middle East and Africa, APAC, Europe, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 93.1 million, at a CAGR of about 5.97% during the forecast period. In the oil and gas industry, drag reduction is a crucial process that enhances a fluid's pumpability by introducing additives, specifically drag-reducing agents (DRAs), into the flowing stream. These DRAs are widely utilized to boost pipeline capacity in multiphase systems, where oil, water, and gas coexist. By minimizing turbulence and optimizing fluid behavior, DRAs enable efficient crude oil flow. Additionally, they mitigate the negative impact of internal corrosion in carbon steel pipelines, thereby extending their operational life and improving overall process efficiency.
Browse market data tables, figures, and in-depth TOC on “Drag Reducing Agent Market” by Application (Crude oil, Chemical transportation, Others) Product (Polymer, Surfactant, Others) Geography (North America, Middle East and Africa, APAC, Europe, South America) Global Forecast to 2028. Download Free Sample
By Application, the Crude oil segment is projected to dominate the market size in 2024
In the oil and gas sector, polymers serve a crucial role as drag-reducing agents due to their ability to minimize friction and enhance fluid flow efficiency. The escalating need for cost-effective and efficient oil and gas transportation solutions is projected to stimulate substantial expansion in the polymer segment of the global drag reducing agent market. The benefits of polymers, including high stability and effectiveness at low concentrations, make them a preferred choice over other drag-reducing agents. Furthermore, advancements in polymer technology have led to the development of more effective and economical drag-reducing agents, which are poised to fuel market growth throughout the forecast period.
By Product, Polymer segment is expected to hold the largest market size for the year 2024
In the oil and gas industry, drag-reducing agents (DRAs) serve as essential additives to mitigate energy losses in crude oil pipelines. These pipelines experience turbulent flow, where eddies in the oil cause significant drag or energy loss during transportation, rather than friction from pipeline walls. DRAs function by altering the frictional pressure within the crude oil mass, thereby modifying its thixotropic properties. This enhancement leads to favorable kinematic viscosity, allowing for reduced turbulence and improved pipeline efficiency. DRAs facilitate the rearrangement of atomic bonds within crude oil, thereby minimizing turbulence and optimizing pipeline performance.
North America is forecasted to hold the largest market size by region in 2024
In the business realm, the demand for drag reducing agents (DRAs) continues to surge due to their ability to enhance fluid flow in industrial processes, thereby reducing energy consumption and operational costs. These agents function by adsorbing on the pipe wall and forming a thin, smooth layer, thereby minimizing turbulence and friction. Market growth is driven by the oil and gas, power generation, and water treatment industries, with Asia Pacific being a significant contributor.
The Drag Reducing Agent Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Drag Reducing Agent (DRA) market is a significant segment of the petrochemical industry, particularly in the transportation sector. DRAs are essential additives used in petroleum pipelines to enhance the efficiency of fluid transportation, reducing the energy consumption and increasing the pipeline capacity. These agents are effective in both laminar and turbulent flows, making them suitable for multiphase liquids, including crude oil, natural gas, petrol, diesel, and refined petroleum. The demand for DRAs is driven by the increasing oil demand and the need to optimize pipeline operations. DRAs, also known as drugreducing polymers, work by reducing the drag force acting on the fluid, allowing it to flow more smoothly through the pipe. The use of DRAs can lead to significant energy savings, particularly in long-distance transportation of natural gas and crude oil. The Future Market Insights reports that the global DRA market is expected to grow at a CAGR of 5.4% between 2021 and 2031. The report attributes this growth to the increasing demand for energy sources and the need to improve pipeline operations in the transportation sector. Equity Foundation, one of the leading players in the DRA market, offers a range of flowimproving products designed to enhance pipeline efficiency and reduce energy consumption.
Market Research Overview
The Drag Reducing Agent (DRA) market plays a crucial role in ensuring consistent flow in refinery operations, particularly in the transportation and processing of crude oil and petroleum products. Infrastructure alterations, such as pipeline conditions and resistance, significantly impact the energy requirement for fluid transmission. DRAs help reduce energy consumption and pressure drop by minimizing friction and turbulent motion in pipelines. The market for DRAs is diverse, with applications ranging from fuels like petrol and diesel to petrochemical products such as fertilizers, plastics, and petrochemicals. Leading manufacturers focus on the development of drugreducing polymers, including biopolymer-based and nanofluids, to enhance efficiency and adaptability in various industries. The oil and gas sector, including oil field exploration and crude oil transportation, is a significant consumer of DRAs. The crude oil segment, in particular, benefits from the use of DRAs in multiphase liquids to improve flow rate and reduce pressure loss. Government initiatives and collaborations in the transportation sector aim to increase pipeline capacity and reduce energy consumption, further driving the demand for DRAs. The future market for DRAs is expected to grow significantly due to the increasing demand for energy sources and the need for efficient fluid transportation. The use of DRAs in gas pipelines and refined petroleum transportation is also gaining popularity, making it an essential additive in the petrochemical industry.
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