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 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 scenario for the use of DRA in medical applications, and majorly by a rise in the oil & gas exploration activities globally.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2112 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 revenueMoreover, 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.Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2112Drag 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.