Enhanced Oil Recovery (EOR) Market, By Technology (Chemical, Thermal and Gas Injection), By Chemical, By Application and Geography (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) Analysis, Share, Trends, Size, & Forecast from 2014 2025
REPORT HIGHLIGHT
The Enhanced Oil Recovery (EOR) Market was valued at USD 12.06 billion by 2018, growing with 7.8% CAGR during the forecast period, 2019-2025.
The global enhanced oil recovery market is set to witness an exceptional rate accountable to recent advancements in methods to explore hydrocarbons. According to a report by AnalystView Market Insights, titled “Enhanced Oil Recovery (EOR) Market,” the market will be valued at USD 12.06 Billion by the end of 2018 thereby exhibiting a CAGR of 7.8%.
Enhanced oil recovery is used to increase the overall efficiency of an oil reservoir by approximately 40%. The enhanced oil recovery (EOR) process is carried out by injecting a particular substance into the reservoir, which in turn affects the viscosity and pressure of the oil. A conventional reservoir extraction process involves the use of a motor pump to increase the pressure of the oil. The conventional oil extraction process accounts for a volume of 25% of the total oil in the reservoir. Enhanced oil recovery is used to boost this volume and as per statistics, it can increase the extracted oil volume by an additional 15% over the conventional process. The need for conservation of natural resources, combined with the growing awareness regarding the use of oil and natural gas will aid the growth of the global enhanced oil recovery market in the forthcoming years.
The report on global enhanced oil recovery market provides a comprehensive review of several aspects of the market. The research methods used in calculating market figures for the base years and forecast period involves a combination of top-down and bottom-up approach. Emphasis is given to key market aspects such as leading product types, end-use applications, and popular technologies in the market. Besides this, the report provides a detailed analysis of the market with regard to regions such as the Asia Pacific, North America, the Middle East & Africa, Latin America, and Europe.
With the Potential to Capture Greenhouse Gases, CO2 Gas Injection Segment to Emerge Leading Technology
On a global scale, enhanced oil recovery has the potential to generate an additional volume equivalent to billions of barrels of oil. As a result, there is a growing emphasis on EOR techniques, with the aim to better overall efficiency of the system and subsequently procure low-cost oil extraction methods. Among the several EOR methods that exist in the market, the gas injection technique is, by far, the most widely adopted method. This method involves the use of natural gas, CO2, or nitrogen that is used to push oil towards the surface by exerting an external pressure to the reservoir. CO2 acts as a solvent and can be used to bring own the viscosity of the reservoir.
In addition to EOR benefits, the emphasis on CO2 harnessing will spark several innovations in the technologies aimed at capturing greenhouse gases. Such product innovations will have a positive impact on crisis such as global warming with regard to the aforementioned factors, the gas injection segment will account for a considerably high EOR market share in the foreseeable future.
Advancements in Hydraulic Fracturing to Drive the Onshore Drilling Segment
With growing demand for oil and natural gas from several countries across the world, companies are focused on exploring the untapped potential in this industry. As a result, there has been an increase in the overall investment in the research and development of EOR techniques. Recent advancements in hydrocarbon exploration and onshore drilling processes have emerged in favour of EOR market growth. Due to the massive potential offered by hydrocarbons, the onshore application segment will generate significant enhanced oil recovery market revenue in the coming years.
Key Vendors Takeaway
Some of the leading companies that have established a formidable market stand include Chevron Phillips Chemical Company, Schlumberger, Lukoil, Royal Dutch Shell plc, ExxonMobil Corporation, Sinopec, Praxair Technology, Inc., BP plc, Baker Hughes Inc. and China National Petroleum Corporation.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2014 to 2017
- Base Year – 2018
- Estimated Year – 2019
- Projected Year – 2025
TARGET AUDIENCE
- Traders, Distributors, and Suppliers
- Manufacturers
- Government and Regional Agencies
- Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TECHNOLOGY
- Chemical
- Thermal
- Gas Injection
- Others
MARKET, BY CHEMICAL
- Polymers
- Surfactants
- Alkaline Chemicals
- Foamers
- Alkali-Surfactant-Polymer (ASP) Formulations
- Others
MARKET, BY APPLICATION
- Onshore
- Offshore
MARKET, BY REGION
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. ENHANCED OIL RECOVERY (EOR) MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Technology
2.1.2. Market Snippet by Chemical
2.1.3. Market Snippet by Application
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. ENHANCED OIL RECOVERY (EOR) KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. ENHANCED OIL RECOVERY (EOR) INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. ENHANCED OIL RECOVERY (EOR) MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key Manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. ENHANCED OIL RECOVERY (EOR) MARKET – BY TECHNOLOGY
6.1. Overview
6.1.1. Segment Share Analysis, By Technology, 2018 & 2025 (%)
6.2. Chemical
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Thermal
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Gas Injection
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Others
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. ENHANCED OIL RECOVERY (EOR) MARKET – BY CHEMICAL
7.1. Overview
7.1.1. Segment Share Analysis, By Chemical, 2018 & 2025 (%)
7.2. Polymers
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Surfactants
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Alkaline Chemicals
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Foamers
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.6. Alkali-Surfactant-Polymer (ASP) Formulations
7.6.1. Overview
7.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.7. Others
7.7.1. Overview
7.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. ENHANCED OIL RECOVERY (EOR) MARKET – BY APPLICATION
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2018 & 2025 (%)
8.2. Onshore
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3. Offshore
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9. ENHANCED OIL RECOVERY (EOR) MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Region, 2018 & 2025 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
9.2.4. North America Market Size and Forecast, By Technology, 2014 – 2025 (US$ Million)
9.2.5. North America Market Size and Forecast, By Chemical, 2014 – 2025 (US$ Million)
9.2.6. North America Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
9.2.7. U.S.
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.2.8. Canada
9.2.8.1. Overview
9.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Technology, 2014 – 2025 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Chemical, 2014 – 2025 (US$ Million)
9.3.6. Europe Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
9.3.7. Germany
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.8. Italy
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.9. United Kingdom
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.10. France
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.11. Rest of Europe
9.3.11.1. Overview
9.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Technology, 2014 – 2025 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Chemical, 2014 – 2025 (US$ Million)
9.4.6. Asia Pacific Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
9.4.7. India
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.8. China
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.9. Japan
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.10. South Korea
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.11. Rest of APAC
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Technology, 2014 – 2025 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Chemical, 2014 – 2025 (US$ Million)
9.5.6. Latin America Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
9.5.7. Brazil
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5.8. Mexico
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5.9. Argentina
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Technology, 2014 – 2025 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Chemical, 2014 – 2025 (US$ Million)
9.6.6. Middle East and Africa Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
9.6.7. Saudi Arabia
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.6.8. United Arab Emirates
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
10. KEY VENDOR ANALYSIS
10.1. Chevron Phillips Chemical Company
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Technology Benchmarking
10.1.4. Strategic Initiatives
10.2. Schlumberger
10.3. Lukoil
10.4. Royal Dutch Shell plc
10.5. ExxonMobil Corporation
10.6. Sinopec
10.7. Praxair Technology, Inc.
10.8. BP plc
10.9. Baker Hughes Inc.
10.10. China National Petroleum Corporation
11. 360 DEGREE ANALYSTVIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
List of Tables
TABLE List of data sources
TABLE Market drivers; Impact Analysis
TABLE Market restraints; Impact Analysis
TABLE Enhanced Oil Recovery (EOR) market: Technology snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Technology
TABLE Global Enhanced Oil Recovery (EOR) market, by Technology 2014-2025 (USD Million)
TABLE Enhanced Oil Recovery (EOR) market: Chemical Snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Chemical
TABLE Global Enhanced Oil Recovery (EOR) market, by Chemical 2014-2025 (USD Million)
TABLE Enhanced Oil Recovery (EOR) market: Application snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Application
TABLE Global Enhanced Oil Recovery (EOR) market, by Application 2014-2025 (USD Million)
TABLE Enhanced Oil Recovery (EOR) market: Regional snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Region
TABLE Global Enhanced Oil Recovery (EOR) market, by Region 2014-2025 (USD Million)
TABLE North America Enhanced Oil Recovery (EOR) market, by Country, 2014-2025 (USD Million)
TABLE North America Enhanced Oil Recovery (EOR) market, by Technology, 2014-2025 (USD Million)
TABLE North America Enhanced Oil Recovery (EOR) market, by Chemical, 2014-2025 (USD Million)
TABLE North America Enhanced Oil Recovery (EOR) market, by Application, 2014-2025 (USD Million)
TABLE Europe Enhanced Oil Recovery (EOR) market, by country, 2014-2025 (USD Million)
TABLE Europe Enhanced Oil Recovery (EOR) market, by Technology, 2014-2025 (USD Million)
TABLE Europe Enhanced Oil Recovery (EOR) market, by Chemical, 2014-2025 (USD Million)
TABLE Europe Enhanced Oil Recovery (EOR) market, by Application, 2014-2025 (USD Million)
TABLE Asia Pacific Enhanced Oil Recovery (EOR) market, by country, 2014-2025 (USD Million)
TABLE Asia Pacific Enhanced Oil Recovery (EOR) market, by Technology, 2014-2025 (USD Million)
TABLE Asia Pacific Enhanced Oil Recovery (EOR) market, by Chemical, 2014-2025 (USD Million)
TABLE Asia Pacific Enhanced Oil Recovery (EOR) market, by Application, 2014-2025 (USD Million)
TABLE Latin America Enhanced Oil Recovery (EOR) market, by country, 2014-2025 (USD Million)
TABLE Latin America Enhanced Oil Recovery (EOR) market, by Technology, 2014-2025 (USD Million)
TABLE Latin America Enhanced Oil Recovery (EOR) market, by Chemical, 2014-2025 (USD Million)
TABLE Latin America Enhanced Oil Recovery (EOR) market, by Application, 2014-2025 (USD Million)
TABLE Middle East and Africa Enhanced Oil Recovery (EOR) market, by country, 2014-2025 (USD Million)
TABLE Middle East and Africa Enhanced Oil Recovery (EOR) market, by Technology, 2014-2025 (USD Million)
TABLE Middle East and Africa Enhanced Oil Recovery (EOR) market, by Chemical, 2014-2025 (USD Million)
TABLE Middle East and Africa Enhanced Oil Recovery (EOR) market, by Application, 2014-2025 (USD Million)
List of Figures
FIGURE Enhanced Oil Recovery (EOR) market segmentation
FIGURE Market research methodology
FIGURE Value chain analysis
FIGURE Porter’s Five Forces Analysis
FIGURE Market Attractiveness Analysis
FIGURE Competitive Landscape; Key company market share analysis, 2018
FIGURE Technology segment market share analysis, 2018 & 2025
FIGURE Technology segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Chemical market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Thermal market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Gas Injection market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Others market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Chemical segment market share analysis, 2018 & 2025
FIGURE Chemical segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Polymers market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Surfactants market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Alkaline Chemicals market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Foamers market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Alkali-Surfactant-Polymer (ASP) Formulations market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Others market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Application segment market share analysis, 2018 & 2025
FIGURE Application segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Onshore market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Offshore market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Regional segment market share analysis, 2018 & 2025
FIGURE Regional segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE North America Enhanced Oil Recovery (EOR) market share and leading players, 2018
FIGURE Europe Enhanced Oil Recovery (EOR) market share and leading players, 2018
FIGURE Asia Pacific Enhanced Oil Recovery (EOR) market share and leading players, 2018
FIGURE Latin America Enhanced Oil Recovery (EOR) market share and leading players, 2018
FIGURE Middle East and Africa Enhanced Oil Recovery (EOR) market share and leading players, 2018
FIGURE North America market share analysis by country, 2018
FIGURE U.S. market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Canada market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Europe market share analysis by country, 2018
FIGURE Germany market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Spain market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Italy market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE UK market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE France market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of the Europe market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Asia Pacific market share analysis by country, 2018
FIGURE India market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE China market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Japan market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE South Korea market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Singapore market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of APAC market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Latin America market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Latin America market share analysis by country, 2018
FIGURE Brazil market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Mexico market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Argentina market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of LATAM market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Middle East and Africa market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Middle East and Africa market share analysis by country, 2018
FIGURE Saudi Arabia market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE United Arab Emirates market size, forecast and trend analysis, 2014 to 2025 (USD Million)
