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Global Drag Reducing Additives (DRA) Market Insight December 30, 2021 Comments

The drag reducing additives (DRA) is forecast to continue rising slowly over the next four years. According to the World Knowledge Information (WKI) “Global Drag Reducing Additives (DRA) Professional Survey Report 2020, Forecast to 2025”, The increasing number of pharmaceutical industry, petrochemical industry, medical care industry and energy power generation industry is the main factor driving the growth of drag reducer Market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 3.68% base on WKI regression analysis model.

Analysts’ Viewpoint:

“From the current situation of the industry, the drag reduction additive (DRA) industry is being occupied by leading participants in a large area, the industry concentration is high, and it is difficult for new entrants to squeeze into the market.”said Selena, Senior analyst, Chemicals Goods Market Research Center in WKI. “Small enterprises can also choose to seek mergers and acquisitions to enhance their strength.”

Market insight:

Drag reducing additive (DRA) is an additive in any pipe or conduit, which can inhibit the friction pressure loss during fluid flow. They are usually implemented in oil pipelines to expand pipeline capacity by reducing interference and making oil flow more effectively, so that oil can be pumped under lower pressure, so as to save energy and money. They are the first choice for participants in the crude oil industry. Therefore, the increasing demand for crude oil in various industries such as energy production, petrochemical and oil and natural gas will promote the rapid growth of drag reduction additive market.

However, most enterprises are turning to environmental protection practice, and the oil and gas industry is expected to decline in the next few years. This may be the main factor that will slow down the growth of drag reduction additive (DRA) market in the near future.

Competition Landscape:

Major players in the Drag Reducing Additives (DRA) market are Baker Hughes, Qflo, LiquidPower Specialty Products, DESHI, Sino Oil King Shine Chemical, Superchem Technology, NuGenTec, Flowchem, Oil Flux Americas, Innospec, The Zoranoc Oilfield Chemical and others.

Segmentation of Drag Reducing Additives (DRA) Market:

According to the type, the global drag reduction additive (DRA) market can be divided into high viscosity glue, low viscosity glue and others. Among them, the types of high viscosity glue products account for two-thirds of the revenue share. Because high viscosity glue products can meet the filling effect of various types of products, they are more widely used. According to the application, the global drag reduction additive (DRA) market can be divided into crude oil, finished fuel, chemicals and others. Among them, the application field of crude oil accounts for one third of the market share of drag reduction additives (DRA). Because of the large number of pipelines used in industry, this product has been widely used in the oil market. In addition, drag reducing additives (DRA) can also be used in the medical field to penetrate the diffusion of tumor cells, reduce the resistance of arteries and veins, and regulate blood flow. This will stimulate a surge in market demand for global drag reduction additives (DRA) in the next few years.

Drag Reducing Additives (DRA) Market: Regional Analysis

In terms of geography, the global drag reducing additives (DRA) market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.At present, North America occupies the leading position in the drag reducing additive (DRA) market, consuming more than two fifths of the drag reducing additives in the world. However, the expansion of various oil and gas industries in the Asia Pacific region has increased the consumption of drag reducing additives in the region and promoted the growth of drag reducing additives market in the region. Therefore, during the forecast period, the Asia Pacific region is expected to become a global leader in the oil, gas and chemical markets. In addition, due to the existence of strong oil and gas bases in Western Europe, the Middle East and Africa will also become another major consumer of the global drag reducer Market in the forecast period.

 

Cagr: 3.68%
Largest share area:North America
Largest share country:the United States