Global Chemical Enhanced Oil Recovery (EOR/IOR) Market - Industry Trends and Forecast to 2030

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Global Chemical Enhanced Oil Recovery (EOR/IOR) Market - Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Reports
  • Oct 2023
  • Global
  • 350 Seiten
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Global Chemical Enhanced Oil Recovery Eor Ior Market

Marktgröße in Milliarden USD

CAGR :  % Diagram

Diagramm Prognosezeitraum
2023 –2030
Diagramm Marktgröße (Basisjahr)
USD 999.26 Million
Diagramm Marktgröße (Prognosejahr)
USD 1,580.69 Million
Diagramm CAGR
%
Diagramm Wichtige Marktteilnehmer
  • Schlumberger Limited
  • Baker Hughes Company
  • Halliburton Company
  • Nalco Champion
  • BASF SE

Global Chemical Enhanced Oil Recovery (EOR/IOR) Market, By Product Type (Sheets, Rods and Tubes), Grades (Standard, Reinforced, Impact Modified, Recycled, Ultraviolet (UV) Stabilized and Special Grade), Application (Gears, Engineering Parts and Medical Delivery Devices), End User Industry (Electrical and Electronics, Transportation, Medical, Food Packaging, Consumer Goods and Appliances, Building and Construction and Other End-user Industries) – Industry Trends and Forecast to 2030.

Chemical Enhanced Oil Recovery (EOR / IOR) Market

Chemical Enhanced Oil Recovery (EOR/IOR) Market Analysis and Size

The global chemical enhanced oil recovery (EOR/IOR) market is expanding due to factors such as increased adoption in developing economies such as India and China, diverse applications in onshore and offshore sectors, rising government R&D investments, and growing industrialization in developing nations.

Data Bridge Market Research analyses that the global chemical enhanced oil recovery (EOR/IOR) market which was USD 999.26 million in 2022, is expected to reach USD 1,580.69 million by 2030, and is expected to undergo a CAGR of 5.90% during the forecast period of 2023 to 2030. “Sheets” dominates the product type segment of the global chemical enhanced oil recovery (EOR/IOR) market due to versatile applications, from construction to packaging, making it a highly sought-after product type. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Chemical Enhanced Oil Recovery (EOR/IOR) Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Pricing in USD and Volumes in Units

Segments Covered

Product Type (Sheets, Rods and Tubes), Grades (Standard, Reinforced, Impact Modified, Recycled, Ultraviolet (UV) Stabilized and Special Grade), Application (Gears, Engineering Parts and Medical Delivery Devices), End User Industry (Electrical and Electronics, Transportation, Medical, Food Packaging, Consumer Goods and Appliances, Building and Construction and Other End-user Industries)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America

Market Players Covered

Schlumberger Limited (U.S.), Baker Hughes Company (U.S.), Halliburton Company (U.S.), Nalco Champion (U.S.), BASF SE (Germany), Solvay S.A. (Belgium), AkzoNobel N.V. (Netherlands), Chevron Phillips Chemical Company LP (U.S.), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Dow Chemical Company (U.S.), Occidental Petroleum Corporation (U.S.), Weatherford International plc (Switzerland), Praxair, Inc. (U.S.)

Market Opportunities

  • Expanding EOR in unconventional reservoirs
  • Increasing environmental concerns

Market Definition

Chemical enhanced oil recovery (EOR/IOR) pertains to the industry focused on the use of chemicals and associated techniques to optimize and enhance the extraction of hydrocarbons from oil reservoirs. It involves the deployment of various chemical agents and solutions to improve oil production rates, increase reservoir sweep efficiency, and reduce interfacial tension, ultimately maximizing oil recovery from both conventional and unconventional sources, such as mature fields and tight reservoirs.

Global Chemical Enhanced Oil Recovery (EOR/IOR) Market Dynamics

Drivers

  • Growing Demand of Oil

Escalating global energy consumption, driven by industrialization and population growth, fuels the adoption of chemical enhanced oil recovery (EOR/IOR) techniques. With conventional oil reserves depleting, EOR/IOR offers a means to extract more hydrocarbons, meeting the mounting demand.

  • Advancements in EOR Technologies

Ongoing research and development efforts are yielding more efficient and cost-effective EOR methods. Innovations such as nanotechnology and improved chemical formulations enhance oil recovery rates, making EOR/IOR increasingly attractive for operators seeking to maximize production and reserves.

Opportunities

  • Expanding EOR in Unconventional Reservoirs

The proliferation of unconventional resources, including shale oil and gas, presents a substantial opportunity for EOR application. These reservoirs often require specialized chemical treatments and techniques to enhance production, opening up new markets and revenue streams.

  • Increasing Environmental Concerns

Heightened environmental awareness and stricter regulations drive the demand for eco-friendly EOR/IOR solutions. The opportunity lies in developing and implementing sustainable practices, such as utilizing biodegradable or low-impact chemicals, aligning with both ecological responsibilities and industry profitability.

Restraints/Challenges

  • Regulatory Hurdles and Compliance Requirement

Stringent environmental regulations and compliance requirements can create barriers to the widespread adoption of EOR/IOR methods. Meeting these regulatory standards, which vary by region, may necessitate substantial adjustments and investment, potentially slowing market growth.

  • High Implementation Costs

While EOR/IOR promises enhanced oil recovery, the substantial initial investment required for infrastructure development and chemical procurement can pose a financial challenge for some oil operators. Cost considerations and funding constraints may limit the widespread adoption of these techniques.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In February 2022, SNF's EOR technique, utilizing polymer flooding and modular skids, enhances oil recovery by 20%, costing $3 to $6 per extra barrel while significantly lowering CO2 emissions, with over 300 global projects and plug-and-pump facilities.

Global Chemical Enhanced Oil Recovery (EOR/IOR) Market Scope

The global chemical enhanced oil recovery (EOR/IOR) market is segmented on the basis of product type, grades, application, and end user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Sheets
  • Rods
  • Tubes

Grades

  • Standard
  • Reinforced
  • Impact Modified
  • Recycled
  • Ultraviolet (UV) Stabilized
  • Special Grade

Application

  • Gears
  • Engineering Parts
  • Medical Delivery Devices

End User Industry

  • Electrical and Electronics
  • Transportation
  • Medical
  • Food Packaging
  • Consumer Goods and Appliances
  • Building and Construction
  • Other End-user Industries

Global Chemical Enhanced Oil Recovery (EOR/IOR) Market Regional Analysis/Insights

The global chemical enhanced oil recovery (EOR/IOR) market is analysed and market size insights and trends are provided by country, product type, grades, application, and end user industry referenced above.

The countries covered in the global chemical enhanced oil recovery (EOR/IOR) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America

North America dominates the global chemical enhanced oil recovery (EOR/IOR) market due to its extensive oil reserves and advanced EOR technologies.

Asia-Pacific is anticipated to be the highest-growing region in the global chemical enhanced oil recovery (EOR/IOR) market due to increasing energy demand and expanding oil exploration activities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Chemical Enhanced Oil Recovery (EOR/IOR) Market Share Analysis

The global chemical enhanced oil recovery (EOR/IOR) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global chemical enhanced oil recovery (EOR/IOR) market.

Some of the major players operating in the global chemical enhanced oil recovery (EOR/IOR) market are:

  • Schlumberger Limited (U.S.)
  • Baker Hughes Company (U.S.)
  • Halliburton Company (U.S.)
  • Nalco Champion (U.S.)
  • BASF SE (Germany)
  • Solvay S.A. (Belgium)
  • AkzoNobel N.V. (Netherlands)
  • Chevron Phillips Chemical Company LP (U.S.)
  • Exxon Mobil Corporation (U.S.)
  • Royal Dutch Shell plc (Netherlands)
  • Dow Chemical Company (U.S.)
  • Occidental Petroleum Corporation (U.S.)
  • Weatherford International plc (Switzerland)
  • Praxair, Inc. (U.S.)


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Die wichtigste Forschungsmethodik, die vom DBMR-Forschungsteam verwendet wird, ist die Datentriangulation, die Data Mining, die Analyse der Auswirkungen von Datenvariablen auf den Markt und die primäre (Branchenexperten-)Validierung umfasst. Zu den Datenmodellen gehören ein Lieferantenpositionierungsraster, eine Marktzeitlinienanalyse, ein Marktüberblick und -leitfaden, ein Firmenpositionierungsraster, eine Patentanalyse, eine Preisanalyse, eine Firmenmarktanteilsanalyse, Messstandards, eine globale versus eine regionale und Lieferantenanteilsanalyse. Um mehr über die Forschungsmethodik zu erfahren, senden Sie eine Anfrage an unsere Branchenexperten.

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Häufig gestellte Fragen

The market is segmented based on Global Chemical Enhanced Oil Recovery (EOR/IOR) Market, By Product Type (Sheets, Rods and Tubes), Grades (Standard, Reinforced, Impact Modified, Recycled, Ultraviolet (UV) Stabilized and Special Grade), Application (Gears, Engineering Parts and Medical Delivery Devices), End User Industry (Electrical and Electronics, Transportation, Medical, Food Packaging, Consumer Goods and Appliances, Building and Construction and Other End-user Industries) – Industry Trends and Forecast to 2030. .
The Global Chemical Enhanced Oil Recovery Eor Ior Market size was valued at USD 999.26 USD Million in 2022.
The Global Chemical Enhanced Oil Recovery Eor Ior Market is projected to grow at a CAGR of 5.9% during the forecast period of 2023 to 2030.
The major players operating in the market include , Schlumberger Limited , Baker Hughes Company , Halliburton Company , Nalco Champion , BASF SE , Solvay S.A. , AkzoNobel N.V. , Chevron Phillips Chemical Company LP , Exxon Mobil Corporation , Royal Dutch Shell plc , Dow Chemical Company , Occidental Petroleum Corporation , Weatherford International plc , Praxair .
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.