Market Overview:
The global drag reducers market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for drag reducers in various applications, such as oil & gas industry, chemical transportation, and others. In terms of type, high viscosity glue segment is expected to hold a major share of the global market during the forecast period. This can be attributed to its properties such as high shear stability and low volatility that make it suitable for use in various applications.
Product Definition:
Drag Reducers are devices that help reduce the drag on a vehicle. This is important for a variety of reasons, but most notably because it can improve fuel economy and make the car faster.
High Viscosity Glue:
High viscosity glue is a type of hot melt adhesives, which has very high shear strength and thermal stability. It also offers other advantages such as it can be used in extreme temperatures, it's bond strength is stronger than most other glues and materials and provides excellent resistance to water wash off. These are the major factors that drive the demand for this product in various end-use industries such as automotive & transportation, building & construction among others.
Low Viscosity Glue:
Glue is a material that adheres to one or more surfaces and holds them together. The viscosity of glue is low, which allows it to flow easily between the surfaces.
Application Insights:
The chemical transportation application segment led the global drag reducers market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for crude oil as a raw material for manufacturing various chemicals across the globe.
The others segment includes food & beverage and metalworking industries among others. In these industries, it is used as an aid in reducing heat loss or gain caused due to friction between moving parts or components during processing operations such as cutting, drilling and welding among others. It also helps reduce wear & tear on machinery owing to its lubricating properties which enables longer equipment life with high productivity rates leading to increased adoption of these products globally over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing foreign investments in countries such as China, India, Japan, and South Korea. For instance, according to a recent study by UNCTAD; Foreign direct investment (FDI) inflows into Asia increased from USD X billion in 2010 to USD X billion in 2016. This significant increase indicates that Asia is being perceived as a lucrative destination for investors with high potential for business growth.
Moreover, rising demand for oil & gas across emerging economies such as China and India coupled with growing chemical transportation sector across these countries will drive the demand for drag reducers over the forecast period.
Growth Factors:
- Increasing awareness about the benefits of drag reducers among consumers.
- Rising demand for fuel-efficient vehicles across the globe.
- Technological advancements in drag reducer products and manufacturing processes.
- Growing popularity of eco-friendly and energy-efficient transportation solutions worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Drag Reducers Market Research Report
By Type
High Viscosity Glue, Low Viscosity Glue, Rubber Latex
By Application
Oil & Gas Industry, Chemical Transportation, Others
By Companies
LiquidPower Specialty Products, Flowchem LLC, GE (Baker Hughes), Innospec, CNPC, Oil Flux Americas, LLC, NuGenTec, DESHI, Sino Oil King Shine Chemical, The Zoranoc Oilfield Chemical, Sinopec
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Drag Reducers Market Report Segments:
The global Drag Reducers market is segmented on the basis of:
Types
High Viscosity Glue, Low Viscosity Glue, Rubber Latex
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas Industry, Chemical Transportation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LiquidPower Specialty Products
- Flowchem LLC
- GE (Baker Hughes)
- Innospec
- CNPC
- Oil Flux Americas, LLC
- NuGenTec
- DESHI
- Sino Oil King Shine Chemical
- The Zoranoc Oilfield Chemical
- Sinopec
Highlights of The Drag Reducers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- High Viscosity Glue
- Low Viscosity Glue
- Rubber Latex
- By Application:
- Oil & Gas Industry
- Chemical Transportation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Drag Reducers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Drag reducers are a type of JavaScript library that helps you reduce the amount of drag and drop required to move elements around in your web page. They help by providing a set of APIs that allow you to easily manipulate the position, size, and opacity of elements on the page.
Some of the key players operating in the drag reducers market are LiquidPower Specialty Products, Flowchem LLC, GE (Baker Hughes), Innospec, CNPC, Oil Flux Americas, LLC, NuGenTec, DESHI, Sino Oil King Shine Chemical, The Zoranoc Oilfield Chemical, Sinopec.
The drag reducers market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drag Reducers Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Drag Reducers Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Drag Reducers Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Drag Reducers Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Drag Reducers Market Size & Forecast, 2018-2028
4.5.1 Drag Reducers Market Size and Y-o-Y Growth
4.5.2 Drag Reducers Market Absolute $ Opportunity
Chapter 5 Global Drag Reducers Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Drag Reducers Market Size Forecast by Type
5.2.1 High Viscosity Glue
5.2.2 Low Viscosity Glue
5.2.3 Rubber Latex
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Drag Reducers Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Drag Reducers Market Size Forecast by Applications
6.2.1 Oil & Gas Industry
6.2.2 Chemical Transportation
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Drag Reducers Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Drag Reducers Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Drag Reducers Analysis and Forecast
9.1 Introduction
9.2 North America Drag Reducers Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Drag Reducers Market Size Forecast by Type
9.6.1 High Viscosity Glue
9.6.2 Low Viscosity Glue
9.6.3 Rubber Latex
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Drag Reducers Market Size Forecast by Applications
9.10.1 Oil & Gas Industry
9.10.2 Chemical Transportation
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Drag Reducers Analysis and Forecast
10.1 Introduction
10.2 Europe Drag Reducers Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Drag Reducers Market Size Forecast by Type
10.6.1 High Viscosity Glue
10.6.2 Low Viscosity Glue
10.6.3 Rubber Latex
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Drag Reducers Market Size Forecast by Applications
10.10.1 Oil & Gas Industry
10.10.2 Chemical Transportation
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Drag Reducers Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Drag Reducers Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Drag Reducers Market Size Forecast by Type
11.6.1 High Viscosity Glue
11.6.2 Low Viscosity Glue
11.6.3 Rubber Latex
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Drag Reducers Market Size Forecast by Applications
11.10.1 Oil & Gas Industry
11.10.2 Chemical Transportation
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Drag Reducers Analysis and Forecast
12.1 Introduction
12.2 Latin America Drag Reducers Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Drag Reducers Market Size Forecast by Type
12.6.1 High Viscosity Glue
12.6.2 Low Viscosity Glue
12.6.3 Rubber Latex
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Drag Reducers Market Size Forecast by Applications
12.10.1 Oil & Gas Industry
12.10.2 Chemical Transportation
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Drag Reducers Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Drag Reducers Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Drag Reducers Market Size Forecast by Type
13.6.1 High Viscosity Glue
13.6.2 Low Viscosity Glue
13.6.3 Rubber Latex
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Drag Reducers Market Size Forecast by Applications
13.10.1 Oil & Gas Industry
13.10.2 Chemical Transportation
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Drag Reducers Market: Competitive Dashboard
14.2 Global Drag Reducers Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LiquidPower Specialty Products
14.3.2 Flowchem LLC
14.3.3 GE (Baker Hughes)
14.3.4 Innospec
14.3.5 CNPC
14.3.6 Oil Flux Americas, LLC
14.3.7 NuGenTec
14.3.8 DESHI
14.3.9 Sino Oil King Shine Chemical
14.3.10 The Zoranoc Oilfield Chemical
14.3.11 Sinopec
