Number of pages:
| Parameters | Details |
|---|---|
Base Year |
2021 |
Historical Data |
2016-2021 |
Forecast Data |
2022-2028 |
Base Year Value (2021) |
USD million |
Forecast Value (2028) |
USD million |
CAGR (2022 to 2028) |
% |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
The global chemical enhanced oil recovery market is valued at USD 6.1 billion in 2016 and is expected to reach USD 12.3 billion by the end of 2026, growing at a CAGR of 6.1 % between 2017 and 2026.
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 constitutes of following key players in Chemical Enhanced Oil Recovery Market:
Geographical analysis of Chemical Enhanced Oil Recovery Market:
Chemical Enhanced Oil Recovery Market Report delivers comprehensive analysis of :
Chemical Enhanced Oil Recovery Market was valued at around USD million in 2021 & estimated to reach USD by 2028.
Chemical Enhanced Oil Recovery Market is likely to grow at compounded annual growth rate (CAGR) of % between 2022 to 2028.
Yes, the report includes COVID 19 impact on the market.
Precise research methodology, numerous analysis models & up to date data resources to achive most accurate market values.
We can tailored the report as per your requirments & budget, Most of our clients prefer custom reports.
We have quality market data for all types of budget & so now get best out of your market research budget.
Be assured of receving satisfactory analyst support to understand research report in-detail.
