Viscosity Reducing Agents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Drag Reducing Agents, Surfactants & Additives, Dispersing Agents, and Others), by End-user Industry (Oil & Gas, Paints & Coatings, Plastics, and Other Manufacturing Industries), and by Geography (Asia-Pacific, North America, Europe, South America, Middle-East, and Africa)

Market Snapshot

Viscosity Reducing Agents Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 5 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The market for viscosity reducing agents is expected to grow at a CAGR of about 5% globally during the forecast period. 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.

Scope of the Report

The Viscosity Reducing Agents Market report include:

Drag Reducing Agents
Surfactants & Additives
Dispersing Agents
End-user Industry
Oil & Gas
Paints & Coatings
Other Manufacturing Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Growing Demand from the Oil & Gas Industry

  • Viscosity reducing agents are widely used in oil & gas industries and is expected to grow rapidly during the forecast period.
  • Viscosity reducing agents are often referred to as drag reducing agents in oil & gas industries, they improve the flow by reducing the frictional energy losses by decreasing the turbulence in the pipeline during crude oil transportation, and processing.
  • Moreover, they are long-chain hydrocarbons that decrease the pressure drop for the same flow rate and thereby increase the pipeline flow using the same amount of energy.
  • Viscosity reducing agents help in the free-flowing of crude oil products, finished products, asphalt-crude, aqueous systems, and multiphase systems. The global petroleum and other petroleum-based liquids are at 100.75 million barrels per day in 2019 from 99.97 million barrels per day in 2018, which shows an increase of about 284.7 million barrels per year and is expected to grow during the forecast period.
  • However, due to unprecedented conditions arisen due to the COVID-19 outbreak the consumption of oil & gas will be down by at least 5 million barrels per day due to lockdown in various countries and shut down of travel, tourism, e-commerce, and restaurants are likely to affect the consumption in 2020.
  • The growing urbanization and increasing demand for petroleum-based products are expected to drive the market for the viscosity reducing agents during the forecast period.
Viscosity Reducing Agents Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for viscosity reducing agents during the forecast period due to an increase in demand from countries like China and India.
  • The growing crude-oil consumption in countries like India and China is expected to drive the market during the forecast period. Globally, India is the third-largest consumer of crude oil and petroleum products after China and the United States, with the second-largest refinery in Asia after China. The Indian petroleum import value is about USD 112 billion in 2019 with a 27% growth from the financial year 2018. The growing consumption from the transportation sector, and liquified petroleum gas from residential and commercial complexes are expected to drive the market.
  • In China, crude oil consumption is at 14.5 million barrels per day in 2019 from about 13.5 million barrels per day in 2018. In addition to that, China’s refinery capacity is increased by 1 million barrels per day in 2019. The growing consumption in China is expected to drive the market.
  • In paints & coatings, the dispersing agents deflocculates solids, thereby reducing the viscosity of dispersion and increasing the loading of dispersed powder material. The dispersing phase is the most energy consuming stage and dispersing agents help in increasing stability and optimize energy consumption. The growing paints and coatings are expected to drive the market.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for viscosity reducing agents market in the Asia-Pacific during the forecast period.
Viscosity Reducing Agents Market Regional Trends

Competitive Landscape

The global viscosity reducing agents market is partially fragmented with players accounting for a marginal share of the market. Few companies include BYK-CHEMIE GMBH, LiquidPower Specialty Products Inc., Innospec, Oil Flux, and BASF SE.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Demand From the Oil & Gas Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

      2. 4.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Drag Reducing Agents

      2. 5.1.2 Surfactants & Additives

      3. 5.1.3 Dispersing Agents

      4. 5.1.4 Others

    2. 5.2 End-user Industry

      1. 5.2.1 Oil & Gas

      2. 5.2.2 Paints & Coatings

      3. 5.2.3 Plastics

      4. 5.2.4 Other Manufacturing Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alberta Treating Chemicals LTD.

      2. 6.4.2 ARKEMA Group

      3. 6.4.3 Baker Hughes Company

      4. 6.4.4 BASF SE

      5. 6.4.5 BYK-CHEMIE GMBH

      6. 6.4.6 CHINAFLOC

      7. 6.4.7 Ecolab

      8. 6.4.8 Innospec

      9. 6.4.9 LiquidPower Specialty Products Inc.

      10. 6.4.10 NuGenTecx

      11. 6.4.11 Oil Flux

      12. 6.4.12 Qflo

      13. 6.4.13 The Lubrizol Corporation

    5. *List Not Exhaustive

    1. 7.1 Growing Demand Due from Emerging Economies

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Viscosity Reducing Agents Market market is studied from 2016 - 2026.

The Viscosity Reducing Agents Market is growing at a CAGR of 5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BYK-CHEMIE GMBH, LiquidPower Specialty Products Inc., Innospec, Oil Flux, BASF SE are the major companies operating in Viscosity Reducing Agents Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!