Viscosity Reducing Agents Market are Gaining Significant Traction with Transneft Inaugurating a New Production Plant
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.
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