Chemical Enhanced Oil Recovery Global Market Report 2023, Featuring Profiles of Key Players Air Liquide, BP, Chevron Phillips, Royal Dutch Shell, Suncor Energy, Schlumberger and More

DUBLIN, Nov. 23, 2023 /PRNewswire/ — The “Chemical Enhanced Oil Recovery (EOR) Market Report 2023-2033” has been added to ResearchAndMarkets.com’s offering.

World revenue for the Chemical Enhanced Oil Recovery (EOR) Market is forecast to  surpass US$936.2 million in 2023, with strong revenue growth predicted through to 2033. The work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.

Surging Demand for Crude Oil Amidst Depleting Reserves Is Driving the Market Growth

As conventional oil reserves deplete, the global demand for crude oil remains unabated. Chemical Enhanced Oil Recovery (EOR) techniques, including polymer flooding and surfactant-polymer flooding, have become pivotal in extracting additional oil from mature fields. This demand is prominent in regions like the Middle East, where countries like Saudi Arabia and Iraq extensively employ chemical EOR methods to sustain oil production levels. The technique ensures a continued supply of oil by recovering otherwise unrecoverable reserves, thus driving the chemical EOR market.

The Fluctuation of Oil Prices Hinders the Growth of the Market

The Chemical Enhanced Oil Recovery (EOR) market, like many sectors within the energy industry, is significantly impacted by the fluctuation of oil prices. These price fluctuations have a profound influence on the market’s growth and development. When oil prices experience volatility, it creates a climate of uncertainty within the energy sector. Oil companies and operators must carefully assess the economic viability of their EOR projects, as the cost-effectiveness of implementing chemical EOR methods can be directly tied to prevailing oil prices. During periods of low oil prices, the financial feasibility of EOR initiatives may come into question, as the expenses associated with chemical formulations and injection processes may outweigh the benefits of increased oil recovery.

Market Dynamics

Market Driving Factors

Increase in Crude Oil Production Driving the Market GrowthIncreased Number of Matured Wells Driving the Market GrowthRising Deep Drilling Operations Driving the Market Growth

Market Restraining Factors

Negative Impact on the Environment Hinder the Market GrowthPresence Fluctuations in Oil Prices Hinder the Market GrowthThe Presence of Alternative Oil Recovery Technology

Market Opportunities

Extensive Investment in R&D for Developing Untapped ResourcesDiscovery of New Oilfields Presents Opportunities for the MarketNanotechnology Utilized in New Enhanced Oil Recovery Method

Segments Covered in the Report

Market Segment by Type

OffshoreOnshore

Market Segment by Origin

Petro-basedBio-basedWater-based

Market Segment by Chemical Type

Water-soluble PolymersSurfactantsPolymer GelsBiopolymersAlkaline Chemicals

Market Segment by Technique

Polymer Flooding (PF)Surfactant-Polymer (SP) FloodingAlkali-Surfactant-Polymer (ASP) FloodingMicellar FloodingLow Tension Gas Flooding (LTG)Other Technique

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.

Forecasts to 2033 and other analyses reveal commercial prospects

In addition to revenue forecasting to 2033, this new study provides you with recent results, growth rates, and market shares.You will find original analyses, with business outlooks and developments.Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising chemical enhanced oil recovery (EOR) prices and recent developments.

The report also includes profiles and for some of the following leading companies, with a focus on this segment of these companies’ operations:

Air LiquideBaker Hughes CompanyBP PlcChevron Phillips Chemical CompanyCroda InternationalHaliburton CorporationLinde PlcRoyal Dutch Shell PlcSchlumberger LimitedSecure Energy ServicesSuncor Energy Inc.TechnipFMC plcTitan Oil RecoveryUltimate EOR ServicesXYTEL Corporation

In summary, the 420+ page report provides you with the following knowledge:

Revenue forecasts to 2033 for Chemical Enhanced Oil Recovery (EOR) Market, 2023 to 2033 Market, with forecasts for type, origin, chemical type, and technique, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.Revenue forecasts to 2033 for four regional and 20 key national markets – See forecasts for the Chemical Enhanced Oil Recovery (EOR) Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Indonesia, Thailand, Malaysia among other prominent economies.Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Chemical Enhanced Oil Recovery (EOR) Market, 2023 to 2033.

For more information about this report visit https://www.researchandmarkets.com/r/n93z0o

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