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Global Chemical Enhanced Oil Recovery Market projected USD 1,223.99 million, at CAGR of 5.7% Forecast to 2025.

Global Chemical Enhanced Oil Recovery Market 

Global Chemical Enhanced Oil Recovery Market All percentage shares, divisions, and breakdowns were determined from secondary sources and primary sources verified. This research report classifies the Global Chemical Enhanced Oil Recovery Market by top players/brands, region, type and end users. To estimate and validate the size of the Global Chemical Enhanced Oil Recovery Market, top-down and bottom-up approaches were used. This report contains estimates of the market size for value (million US$) and volume (K units). This report examines the global market size in key areas such as North America, Europe, Asia Pacific, Central and South America, the Middle East and Africa. This report examines the global status of the Global Chemical Enhanced Oil Recovery Market, the competitive environment, market share, growth rates, future trends, market drivers, opportunities and challenges, sales channels and distributors. Secondary research has identified key market players and primary and secondary research has determined their market share.

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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Major Players: Global Chemical Enhanced Oil Recovery Market

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.

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.

According to the energy information administration (EIA), at present EOR projects contribute an about 2.0 million barrels per day to world production. Of that amount, polymer flood   is responsible to produce about 400,000 barrels, CO2 flooding is responsible to produce between 300,000 and 500,000 barrels and thermal recovery accounts to produce around 1.0 million barrels. Moreover, Conventional production techniques allow us to recover 35.0%, on average, of the oil stored in reservoirs and leftover oil can be recovered by the use of advanced recovery improvement techniques. With the implement of chemical enhanced oil recovery (CEOR), companies can recover 5.0%-20.0% oil more.

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The Focus of the Report: 

The study provides an in-depth analysis of the Global Chemical Enhanced Oil Recovery Market and current & future trends to elucidate imminent investment pockets.

Changing market dynamics of the industry

Strategies of key players and product offerings

In-depth market segmentation

Recent industry trends and developments

Analyze and forecast the Global Chemical Enhanced Oil Recovery Market on the basis of type, function, and application.

Segmentation: Global Chemical Enhanced Oil Recovery Market

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.

According to the report by Energy Information Administration (EIA),  the crude oil production could hit an average 10.7 MMbbl/d in 2018 and rise even further in 2019 to 11.3 MMbbl/d. U.S. crude oil production has significantly increase in the past 10 years. Moreover, in 2017 New Mexico lead in production which leaped over California and Alaska and reach to third largest crude oil producing state. Colorado, Oklahoma and North Dakota also saw gains of more than 30,000 bbl/d of oil production over 2016 levels. In 2017, the federal Gulf of Mexico, reaches to the second position in oil production contributing 51,000 bbl/d of annual growth.

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