Global Chemical Enhanced Oil Recovery Market According to Data Bridge Market Research new Market report - Industry Trends and Forecast is projected to reach USD 1,223.99 million by 2025, at a CAGR of 5.7% during the forecast period of 2018 to 2025.
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Global Chemical Enhanced Oil Recovery Market
Amount of crude oil that can be extracted from an oil field can be increase using enhance oil recovery technique. Another term for enhanced oil recovery is tertiary recovery. According to the department of energy, there are three primary techniques for EOR namely thermal recovery, gas injection, and chemical injection.
Segmentation:
The global market for chemical enhanced oil recovery by the following sub-categories is presented
By Product Type
· Water soluble Polymers
· Surfactants Polymer gels
· Biopolymers
· Alkaline Chemicals
· Others
By Application
· Chemical
· Petrochemical
· Onshore
· Offshore
By Technique
· Polymer flooding
· Surfactant-Polymer Flooding
· Alkaline-Surfactant-Polymer Flooding
By Origin
· Petro-Based
· Bio-based
By Geography
· North America
· South America
· Europe
· Asia-Pacific
· Middle East and Africa
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FACTORS DRIVING GLOBAL CHEMICAL ENHANCED OIL RECOVERY MARKET
Increasing crude oil production:
According to the Energy Information Administration (EIA) crude oil production in the U.S. could be heading toward another record. This growth could break the records of 2017. Furthermore U.S. oil production rises up by 5.0% in 2017 to 9.3 million barrels per day (MMbbl/d), led by production in Texas. At an average 3.5 MMbbl/d, crude oil production from the Lone Star State, home of the prolific Permian Basin that partially lies in New Mexico, was more than two and a half times the amount of crude oil that was produced in the U.S.
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Major Players:
Some of the major players in chemical enhanced oil recovery (EOR / IOR) market are
· Albemarle Corporation,
· Ashland, BASF SE,
· Baker Hughes Incorporated,
· Champion Technology Services, Inc.,
· The Dow Chemical Company,
· DuPont,
· Halliburton,
· Huntsman,
· Kemira,
· Oil Chem Technologies,
· Schlumberger Limited,
· Shell Chemicals,
· Solvay,
· Stepan Company,
· Ecolab (TIORCO),
· CPGE,
· North American Operation (Sasol),
· Surtek, Inc.
· Among others
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