Viscosity Reducing Agents Market are Gaining Significant Traction with Transneft Inaugurating a New Production Plant of Viscosity Reducing Agents in the Alabuga Special Economic Zone, the Republic of Tatarstan

 

Viscosity reducing agents can be defined as substances that make the oil more viscous. Viscous means "water-like" in chemistry, so the more viscous a material is the more it would have to be processed for industrial usage, and the less valuable it would be in everyday life. These Viscose reducing agents have the properties of creating a fine film of water on the surface of oil droplets. They also promote the separation of water molecules from the surface of the oil droplets, thus preventing them from being stuck together and sinking back into the oil. This greatly improves the lubricity of the lubricating movement between two parts and allows for smoother, more efficient movements.

Increasing demand from the chemicals industry is expected to drive growth of the global viscosity reducing agents market. The chemicals sector has witnessed robust growth over the years in both developed and emerging economies. According to the India Brand Equity Foundation (IBEF), the Indian chemical industry was valued at US$ 178 billion in 2019 and is expected to reach US$ 304 billion by 2025, registering a CAGR of 9.3%. Furthermore, according to the SelectUSA Investment Summit, in 2017, the U.S. chemical industry had sales of US$ 765 billion with foreign direct investment (FDI) across US$ 700 billion. Viscosity reducing agents are typically used as additives in pipelines that reduce the turbulence in a pipe and subsequently increasing the flow of fluids. Hence, these factors are expected to drive growth of the global viscosity reducing agents market. Furthermore, increasing demand from the food and beverage industry as stabilizers, release agents, and wetting agents is expected to hinder the global viscosity reducing agents market growth in the near future.

High dependence of viscosity reducing agents on other industries are expected to hinder the global viscosity reducing agents market growth in the near future. Among regions, North America is expected to witness significant growth in the global viscosity reducing agents market. This is owing to increasing demand from plastic additives manufacturers in the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to rapid growth chemical industry in emerging economies such as India and China.

Key competitors involved in the global viscosity reducing agents market are Halliburton, Oil Flux Americas, NuGenTec, Lubrizol Specialty Products, Inc., Flowlift, Ciranda, NALCO, Concophilips, Flow-Chem Technologies LLC, PartowIdeh Pars, and Thomas Swan & Co. Ltd.

For instance, in September 2019, Transneft inaugurated a new production plant of viscosity-reducing agents in the Alabuga Special Economic Zone, the Republic of Tatarstan.