Viscosity Reducing Agents Market: Overview

Viscosity reducing agents have attracted groundswell of interest among industry players committed to produce and delivery crude oil cost-effectively. Worldwide, the application areas in the viscosity reducing agents market have been evolving at rapid pace due to the production of new oil and gas resources. In recent years, need the use of viscosity reducing agents for extracting heavy and extra-heavy oil resources has gathered steam in various developing and developed regions of the world. Viscosity reducing agents play crucial role in exploiting, transporting, and refining processes in crude oil production and application.

The viscosity stems from the presence of condensed poly-aromatic compounds and heavy metals. A growing number of studies looking for structure characterization of resins and asphaltene in crude oils have helped crude oil industry in testing and developing various chemical additives to reduce viscosity and improve flow properties. The application of these in deep oil wells is a key trend bolstering the prospect for industry players in the viscosity reducing agents market.          

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Viscosity Reducing Agents Market: Competitive Analysis and Key Developments

The viscosity reducing agents market has seen new avenues on the back of new partnerships and collaborations, deals and mergers, and acquisitions among industry players over the past few years. The strikingly expanding global energy market offers vast scope in the viscosity reducing agents market.

In recent years, a spate of studies have focused on using waste bio-materials as viscosity reducing agents. The cost-effectiveness of materials has further spurred attention of producers of crude oil in the viscosity reducing agents market. A study in 2019 was conducted by researchers in Oman looked at the viability of fiber of palm tree, walnut shell, and date palm kernel as parts of viscosity reducing agents. The researchers made a piping structure tailored to test the use of these biomaterials. The study threw interesting results, which will help in better designs in oil transportation pipeline.

More such studies in the viscosity agents market have helped end users get access to promising materials that can improve crude oil flowability.

Some of the well-entrenched players in the viscosity reducing agents market are Oil Flux Americas, Concophilips, Specialty Products, Inc., Lubrizol, Thomas Swan & Co. Ltd., PartowIdeh Pars, NALCO, Flowchem NuGeneration Technologies LLC, and Halliburton, Flowlift.

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Viscosity Reducing Agents Market: Key Trends

A wide range of studies have been conducted on utilizing nanotechnologies for engineering drag reduction materials for various industries, including the crude oil production application. This is a key trend bolstering the expansion of the viscosity reducing agents market. The growing demand for heavy oil has spurred the use of viscosity reducing agents in some of the largest oil fields of the world, such as in China.

The growing uptake of viscosity reducing agents in promoting the pipeline integrity by several end-use industries, notably cement and construction, paints and coatings, and oil sectors is a key trend boosting the prospects in the market. Strides in process industries in developing and developed regions of the world are also boosting the demand for drag reducing agents. The viscosity reducing agents market is also seeing a steadily expanding revenue potential due to the rising worldwide demand for high quality crude oil.

Viscosity Reducing Agents Market: Regional Analysis

The key regional markets for viscosity reducing agents are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, the Middle East and Africa has making rapid strides in relation to new avenues in the viscosity reducing agents market. North America is also a promising market, propelled by the proliferation of studies on testing various polymers and biomaterials to act as powerful viscosity reducing agents.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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