By 2028, the Asia Pacific and global drag reducing additives market share would have increased by 3.6 percent, reaching USD 927 million. The Global Drag Reducing Additives Market is estimated to reach USD 927 million by 2028, growing at a CAGR of 3.6 percent over the forecast period, according to Vantage Market Research (VMR). The rising number of pharmaceutical, petrochemical, and healthcare industries, as well as the developing energy generation industries, are driving the expansion of the Drag Reducing Additives Market. Chemical refinement, oil & gas industry, cement and construction industries, and paints and coating industries are all expected to grow during the forecast period, according to Vantage Market Research in a report titled “Drag Reducing Additives Market By Type (High Viscosity Glue, Low Viscosity Glue, Others), By Application (Oil and Gas Industry, Chemical Industry, Cement and Construction, Paints and Coatings, Pharmaceuticals, Others): Global Item Analysis.” In 2020, the market was valued at USD 726 million.
The following are some of the highlights from the study on the drag reduction additives market:
• Market Assessment • Premium Insights • Competitive Landscape • COVID Impact Analysis • Historic Data, Estimates, and Forecast • Company Profiles • Global and Regional Dynamics
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Overview of the Market:
To stay competitive, increase the usage of drag reducing agents in the medical field.
The increased demand for Drag Reducing Agents in the medical industry is a major factor driving the market expansion of Drag Reducing Additives. It’s mostly used to slow the spread of cancer cells. It improves blood flow by reducing drag in arteries and veins. This, in turn, will increase market demand in the following years. Furthermore, an increase in the use of drag-reducing agents in biomaterials such as gum, xylem, and guar, among others, is projected to boost the market in the near future.
The market is being propelled by the high demand for crude oil in various industries.
The quickest growth of drag reduction additives in the market is related to the increased demand for crude oil in various industries such as energy generation, petrochemicals, and oil & gas. It is primarily used to increase crude oil flow capacity and productivity, hence propelling the drag reducing additives market expansion in the forecast years. Furthermore, the market is expected to develop at the quickest rate due to the increasing usage of drag-reducing compounds in friction resistance, the oil and gas industry, and for other good qualities.
Analysis of the Regions:
Due to the growing oil and gas sector in Asia Pacific, the market is expected to rise steadily. During the forecast period, Asia Pacific will account for the steady expansion of the drag reducing additives market. This is owing to the rise of numerous oil and gas industries in the region. This also raises the demand for drag-reducing chemicals in the area. The market for drag-reducing additives in the region is also growing as a result of this.
List of Key Players in the Market for Drag-Reducing Additives:
Baker Hughes, Qflo, LiquidPower Specialty Products, DESHI, Sino Oil King Shine Chemical, Superchem Technology, NuGenTec, Flowchem, Oil Flux Americas, Innospec, The Zoranoc Oilfield Chemical.
Regions North America, Europe, Asia Pacific, Latin America, the Middle East and Africa, and Rest of World Countries were covered, including the United States, Canada, Mexico, the United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, the Gulf Cooperation Council countries, and South Africa.
Market growth drivers, restraints, and opportunities, as well as Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segment and region, company market share analysis, and COVID-19 impact analysis, are all covered in this report.
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Table of Contents – 1st Chapter (Introduction).
1. Report Scope 2. Study Objectives 3. Unique Selling Proposition & Key Offerings
4. Who is your target audience?
5. Guidance/Walkthrough for Vantage Market Research Reports
2. Premium Insights (Chapter 2)
1. Market Overview
2. The Most Profitable Investment Pockets
1. Market Attractiveness Analysis by Type 2. Market Attractiveness Analysis by Application 3. Market Attractiveness Analysis by North America 1. Market Attractiveness Analysis by Type 2. Market Attractiveness Analysis by Application 3. Market Attractiveness Analysis by North America
3. Primary Respondents’ Thoughts
3. Key Market Dynamics (Chapter 3)
2. Market Forces
Market Restraints are the third factor to consider.
4. Business Opportunities
5. Analysis of Porter’s Five Forces
6. Perform a PEST Analysis
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