The global viscosity reducing agents market is expected to witness significant growth over the forecast period. The viscosity of a fluid is referred to measure of resistance to gradual deformation by tensile stress or shear stress. In simple words, viscosity of fluids is thickness or internal friction. Therefore, water is thin with a lower viscosity whereas honey Is thick having a higher viscosity. The less viscous the fluid is the better its ease of movement while fluids with high viscosity resist the motion due to internal friction. Owing to all these factors stated above there is a need for viscosity reducing agents in order to reduce the viscosity of a particular liquid without any change in its chemical properties.
Viscosity reducing agents are also known as drag reducing agents. Viscosity reducing agents are additives in pipelines that decreases the turbulence in a pipe subsequently increasing the flow of fluids. These agents act as a flow improver or a pipeline booster. Viscosity reducing agents are generally composed of high molecular weight polymers.
The principle on which the viscosity reducing agents function is that these agents interfere with the bursting process and reduce the turbulence in the core. The polymers absorb the energy in the streak and act as a shock absorber thus reducing the turbulent bursts. Viscosity reducing agents act as buffers along the pipe wall. Viscosity reducing agents are essential and assist the operators in order to increase flow in the pipeline. The major factor that propels the growth of the global viscosity reducing agents market share includes the advantages from their use.
Viscosity reducing agents play an essential role to deliver an economic and effective way of material transportation over pipeline linkage in several industries. For instance, viscosity reducing agents play an active role in the petrochemical industry in which transportation of viscous crude oil is carried out with the help of large pipeline networks.
In case of developed regions, there is a major demand for viscosity reducing agents due to their proficient use for enhancing effectiveness over several process industries; whereas in developing economies, the market share for viscosity reducing agents is projected to rise owing to increasing industrialization. On the other hand, there are also factors that may hinder the growth of the global market such as the dependency of viscosity reducing agents market on other industries and therefore their demand becomes a function of performance of other industries.
The global market is classified on the basis of product type, end-use industries, and geography. On the basis of product type, the global market share spans additives, dispersants, polymers, surfactants, and others. On the basis of end-use industries, the global market share spans cement and construction, paints and coatings, oil and gas, rubber, and others. On the basis of end-use industries, the global Viscosity Reducing Agents market share spans North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.
Some of the prominent players that fuel the growth of the global market include Flowlift, Halliburton, NuGenTec, Flowchem, NALCO, PartowIdeh Pars, Thomas Swan & Co. Ltd., Qflo, Lubrizol Specialty Products, Inc., ConocoPhillips, and Oil Flux Americas.
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The prevalence of COVID-19 has led to decreased utilization rates of refineries across the globe, resulting in supply shortages for various end-use sectors. The health crisis has, on a different note, has led to a sudden spike in demand for olefins which find usage in the formulation of sanitizers and other cleaning products. The report will account for Covid19 as a key market contributor.