Market Size of Viscosity Reducing Agents Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 168.13 Million |
| Market Size (2029) | USD 221.62 Million |
| CAGR (2024 - 2029) | 5.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Viscosity Reducing Agents Market Analysis
The Viscosity Reducing Agents Market size is estimated at USD 168.13 million in 2024, and is expected to reach USD 221.62 million by 2029, growing at a CAGR of 5.68% during the forecast period (2024-2029).
Growing demand from the oil & gas industry along with other drives are driving the market. On the flip side, stringent environmental regulations coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
- The Viscosity Reducing Agents market is expected to grow during the forecast period owing to the growing demand from the oil & gas industry.
- Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as China and India.
Viscosity Reducing Agents Industry Segmentation
The Viscosity Reducing Agents Market report include:
| Type | |
| Drag Reducing Agents | |
| Surfactants & Additives | |
| Dispersing Agents | |
| Others |
| End-user Industry | |
| Oil & Gas | |
| Paints & Coatings | |
| Plastics | |
| Other Manufacturing Industries |
| Geography | |||||||
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Viscosity Reducing Agents Market Size Summary
The viscosity reducing agents market is poised for significant growth, driven primarily by increasing demand from the oil and gas sector. These agents, also known as drag reducing agents, play a crucial role in enhancing the efficiency of crude oil transportation by minimizing frictional energy losses and reducing turbulence within pipelines. This improvement in flow efficiency is achieved through the application of long-chain hydrocarbons that lower pressure drops, thereby optimizing energy use for the same flow rate. Despite the positive growth trajectory, the market faces challenges from stringent environmental regulations and the lingering impacts of the COVID-19 pandemic, which have temporarily subdued oil and gas consumption.
The Asia-Pacific region is expected to lead the global market, with China and India at the forefront of consumption. The rising demand for petroleum-based products, fueled by urbanization and increased crude oil consumption, is a key factor driving market expansion in these countries. India, as the third-largest consumer of crude oil, and China, with its expanding refinery capacity, are significant contributors to this growth. Additionally, the paints and coatings industry, which utilizes dispersing agents to reduce viscosity and enhance stability, is anticipated to further bolster market demand. The market remains partially fragmented, with several key players like BYK-CHEMIE GMBH, LiquidPower Specialty Products Inc., Innospec, Oil Flux, and BASF SE holding a marginal share.
Viscosity Reducing Agents Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand From the Oil & Gas Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations
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1.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Drag Reducing Agents
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2.1.2 Surfactants & Additives
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2.1.3 Dispersing Agents
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2.1.4 Others
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2.2 End-user Industry
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2.2.1 Oil & Gas
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2.2.2 Paints & Coatings
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2.2.3 Plastics
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2.2.4 Other Manufacturing Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Viscosity Reducing Agents Market Size FAQs
How big is the Viscosity Reducing Agents Market?
The Viscosity Reducing Agents Market size is expected to reach USD 168.13 million in 2024 and grow at a CAGR of 5.68% to reach USD 221.62 million by 2029.
What is the current Viscosity Reducing Agents Market size?
In 2024, the Viscosity Reducing Agents Market size is expected to reach USD 168.13 million.
