- Polymer
- Surfactant
- ASP
- Onshore
- Offshore
- SNF
- Kemira
- Stepan
- Nalco Champion
- BASF
- Baker Hughes
- Solvay
- Dow
- Clariant
- Shell Chemicals
- Huntsman
- Halliburton
- Schlumberger
-
North America
- U.S.A
- Canada
- Europe
- France
- Germany
- Spain
- UK
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South East Asia
- Latin America
- Brazil
- Middle East and Africa
- Market Forecast for 2024-2030
- Market growth drivers
- Challenges and Opportunities
- Emerging and Current market trends
- Market player Capacity, Production, Revenue (Value)
- Supply (Production), Consumption, Export, Import analysis
- End user/application Analysis
Chemical Enhanced Oil Recovery Market Analysis & Forecast 2024-2030
Chemical Enhanced Oil Recovery Market Report by Product Type (Polymer, Surfactant, ASP ) by Application /End User (Onshore, Offshore ) by Industry Analysis, Volume, Share, Growth, Challenges, Trends, and Forecast 2024-2030, Regional Outlook ( North America, Europe, Asia-Pacific, Middle-East, Africa)
Global Chemical Enhanced Oil Recovery Market is expected to reach USD 15577.39 million by 2031 with CAGR of 6.1 % between 2025 and 2031
Chemical enhanced oil recovery is an advanced technology that addresses the mechanisms that is used to extract crude oil that cannot be extracted through conventional technologies from oil reservoirs. The success of a chemical enhanced oil recovery operation relies on the proper uses of advanced chemicals like surfactants and polymers, etc. Chemical enhanced oil recovery uses specifically designed formulations which create a micro emulsion with crude oil for reservoir conditions.
There are different types of chemical enhanced oil recovery techniques which includes polymer flooding (PF), surfactant-polymer (SP) flooding, alkali-surfactant-polymer (ASP) flooding, alkali-co-solvent-polymer (ACP) flooding, and low tension gas flooding (LTG). Chemical enhanced oil recovery has gained significance in the industry over the last few decades due to increasing number of mature wells and huge investment in R&D activities for new technology development to improve the petroleum liquids recovery process are expected to result in remarkable growth of the industry.
Chemical enhanced oil recovery techniques are used for crude oil extraction as they evolving and getting better with time due to innovations and experience. Also low cost chemicals with improved quality as compared to price of crude oil are driving this market. Hybrid processes have been developed and continue to improve for low tension gas flooding, surfactants combined with heat, polymers combined with smart water and gravity stable surfactant floods also boosting the market.
Chemical enhanced oil recovery techniques are used in favorable geology as indicated by good water flood performance, single and inter well tracers, Even at higher oil viscosity when combined with heating (hot water, electrical heating), in reservoirs having temperatures up to 250°F also in reservoirs salinities up to 250,000 ppm TDS. North America is the largest chemical enhanced oil recovery market while Asia Pacific is estimated to grow with the fastest CAGR during the forecast period as India and China are expected to observe a remarkable growth in coming decade.
Chemical Enhanced Oil Recovery Market : Product Type
Chemical Enhanced Oil Recovery Market : Application
Global Chemical Enhanced Oil Recovery Market : Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study consists of following key players in Chemical Enhanced Oil Recovery Market:
Geographical analysis of Chemical Enhanced Oil Recovery Market:
Global Chemical Enhanced Oil Recovery Market Report delivers a comprehensive analysis of the following parameters:
Report Coverage
| Parameters | Details |
|---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 10291.7 million |
Forecast Value (2031) |
USD 15577.39 million |
CAGR (2025-2030) |
6.1 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Frequently Asked Questions (FAQ)
Chemical Enhanced Oil Recovery Market was valued at around USD 10291.7 million in 2023 & estimated to reach USD 15577.39 million by 2030.
Chemical Enhanced Oil Recovery Market is likely to grow at Compound Annual Growth Rate (CAGR) of 6.1% between 2024 to 2030.
Chemical Enhanced Oil Recovery Market is dominated by the Onshore segment and the North America region holds the highest market share in 2023.
Some of the top key players in the Chemical Enhanced Oil Recovery Market are SNF, Kemira, Stepan, Nalco Champion, BASF, Baker Hughes, Solvay, Dow, Clariant, Shell Chemicals, Huntsman, Halliburton, Schlumberger.
Primary driving factors for the growth of the Chemical Enhanced Oil Recovery Market include Low tension gas flooding, surfactants combined with heat, polymers combined with smart water and gravity stable surfactant floods.
Yes, the report includes COVID 19 impact on the market.
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