New York, NY -- (SBWIRE) -- 05/07/2021 -- The global Drag Reduction Agent Market research report added by Reports and Data is a comprehensive analysis of the latest trends and demands influencing the market growth. The report also covers a brief summary of the market values, analysis, market share, market size, industry statistics, market growth, top companies, market revenue, market valuation, and profit forecast. The report also covers the evolving competitive landscape and business strategies implemented by the major manufacturers of the market.
The global drag reduction agent market is estimated to reach USD 2.24 Billion in 2027 from USD 930.4 Million in 2019, delivering a CAGR of 10.2% through the forecast period. The market growth is driven by the growth of chemical industries, agricultural activities, favorable R&D scenario for the use of DRA in medical applications, and majorly by a rise in the oil & gas exploration activities globally.

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This report on the Drag Reduction Agent Market offers an extensive analysis of the trends to estimate its growth in the near future. It provides historical analysis and evaluates the trends observed in the data gathered to speculate the growth in its size, share, demand, total earnings, and revenue
Moreover, extensive usage of DRAs in the new pipelines due to growing awareness regarding the product and its use for pipeline pressures losses during the transportation of heavy crude oil, thereby minimizing capital & operating costs along with boosting pipeline safety.

Global investments in fossil fuel exploration activities to cater to the growing demand for power & energy will bolster industry price trends. For instance, the COVID-19 pandemic has pushed several private oil & gas companies in Colombia to invest nearly USD 715 million for the rest of 2020 to kick-start the energy sector.
The key factors hampering industry growth are rising environmental concerns, constantly fluctuating prices of crude oil & gas along with a paradigm shift towards environment-friendly sources of fuel.

The prominent players operating in the market include:
Baker Hughes, National Petroleum Corporation, Partow Ideh Pars., Oil Flux Americas, NuGenTec, Innospec, Lubrizol Specialty Products Inc., The Zoranoc Oilfield Chemical, and Flowchem, among others.

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Drag reducing agent (DRA), also known as flow improver or drag reducer, is a material that aids in reducing frictional pressure loss in a pipeline carrying petrol, fuel, or liquid chemicals. The product enhances flow while using a decreased amount of energy. The drag-reducing agents are injected into pipelines to reduce the contact between the wall of the pipe and the flowing liquid, allowing more substance to flow through.
In 2019, the global demand for crude oil (including biofuels) amounted to 100.1 million barrels/day. A similar trend will boost drag reduction agent industry growth over the coming years. With the global fuel crisis, several countries are switching to eco-friendly fuels, but developing economies still rely heavily on crude oil, opening major avenues for industry growth.

The report broadly assesses the geographical terrain of the Drag Reduction Agent Market and segments the market into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report offers market analysis and significant information regarding the industry share and revenue share generated by each major region along with the drivers, demands, current and emerging trends, and presence of key players in the region.

Regional analysis of the Drag Reduction Agent Market include:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Drag Reduction Agent Market segmentation based on Product Types:
- High Viscosity Glue
- Low Viscosity Glue
- Rubber Latex
Drag Reduction Agent Market segmentation based on Application:
- Crude Oil
- Irrigation
- Blood Treatment
- Chemical Transportation
- Others

The report covers vital information about the market share of each product type, revenue growth rate of segment, and profit valuation. It also provides information on the key segments expected to account for a significant share of the market in the forecast period. The report covers predicted growth rate, market share, and expected product demand for each application and product type. Additional information about the industry analysis, price trends, and the marketing strategies that are expected to drive the revenue growth of the market.

Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Drag Reduction Agent Market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Drag Reduction Agent Market size
2.2 Latest Drag Reduction Agent Market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Drag Reduction Agent Market key players
3.2 Global Drag Reduction Agent Market size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Drag Reduction Agent Market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances

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