Global Drag Reducing Agent market will reach 1500 million US$ by the end of 2025
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Published Date: 2018/11/9
Drag reducing agent (DRA), also called drag reducer or flow improver, is a long chain polymer chemical that is used in crude oil, refined products or non-potable water pipelines. It is injected in small amounts (parts per million) and is used to reduce the frictional pressure drop along the pipeline's length. Its use has allowed pipeline systems to greatly increase in traditional capacity and extend the life of existing systems.
The global drag reducing agent market was 181.7 MT in 2016 and is expected to increase to 316.3 MT by 2023. Overall, the drag reducing agent market performance is positive with the global economic recovery.
The technical barrier of drag reducing agent is high, and dominated by certain companies, such as LSPI, Baker Hughes, Flowchem, Innospec, Oil Flux Americas, NuGenTec and son on. Production of drag reducing agent mainly distributes in USA and China.
As for consumption, the largest consumption volume comes from the North America region. In 2016, the region consumed about 46.51% drag reducing agent globally. USA plays a key role in the regions. The follower consumer is Asia-Pacific, with 34.1 MT being consumed in the same year.
The global Drag Reducing Agent market is valued at 850 million US$ in 2017 and will reach 1500 million US$ by the end of 2025, growing at a CAGR of 7.3% during 2018-2025.
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