Drag Reducing Additives (DRA) Market was valued at USD 2.3 Billion in 2022 and is projected to reach USD 4.1 Billion by 2030, growing at a CAGR of 7.6% from 2024 to 2030.
The Drag Reducing Additives (DRA) market was valued at approximately USD 1.8 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. This growth is driven by the increasing demand for efficient and cost-effective solutions in the transportation and oil & gas industries to enhance the flow of fluids through pipelines and reduce operational costs. The market's expansion is supported by advancements in DRA technologies and the growing need for infrastructure upgrades in emerging economies. As a result, the market is expected to reach around USD 2.7 billion by the end of the forecast period.
Opportunity analysis reveals significant potential in regions such as Asia-Pacific and Latin America, where rapid industrialization and infrastructure development are creating a surge in demand for DRAs. The burgeoning oil and gas sector in these regions, coupled with investments in pipeline construction and maintenance, presents lucrative opportunities for market players. Additionally, the increasing adoption of sustainable and environmentally friendly additives is likely to open new avenues for growth. The ongoing innovation in DRA formulations to meet stringent regulations and performance standards further bolsters market prospects, providing a fertile ground for expansion and technological advancements.
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Flowchem
LiquidPower Specialty Products
Innospec
Baker Hughes
Oil Flux Americas
NuGenTec
Sino Oil King Shine Chemical
DESHI
Qflo
Superchem Technology
The Zoranoc Oilfield Chemical
CNPC
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Drag Reducing Additives (DRA) Market
Oil & Gas Industry
Chemical Industry
Based on Types the Market is categorized into Below types that held the largest Drag Reducing Additives (DRA) market share In 2023.
High Viscosity Glue
Low Viscosity Glue
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Drag Reducing Additives (DRA) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Drag Reducing Additives (DRA) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Drag Reducing Additives (DRA) Market, By Type
6. Global Drag Reducing Additives (DRA) Market, By Application
7. Global Drag Reducing Additives (DRA) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Drag Reducing Additives (DRA) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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