Rising demand for EOR chemicals especially in North America

EOR chemicals are mainly used in the mature well and reserves in difficult terrains. EOR is normally done using polymer flooding, surfactant polymer flooding and alkaline surfactant polymer flooding.

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The EOR chemicals market is a highly fragmented market with a presence of large number of producers. There are many players with strong local presence in their respective regions. The key players in this market are opting for capacity expansions to enhance their market reach into new applications and more eco-friendly products. The major companies in the market are BASF SE (Germany), DuPont (U.S.), Baker Hughes (U.S.), Halliburton (U.S.), and Schlumberger Limited (U.S.)., among others.

Surfactants are expected to dominate the EOR chemicals market by type in 2014. North America is estimated to be the largest market for the surfactants in the EOR chemicals market share by value in 2013. Onshore applications are expected to show the highest growth owing to increasing consumption of EOR chemicals, primarily in North America and Europe.

It also identifies the driving and restraining factors for the EOR chemicals market with an analysis of trends and opportunities. The market is segmented and the value has been forecast on the basis of key regions, such as North America, Europe, Asia, Africa, and Central & South America.

North America is the fastest growing region for chemical EOR market

The chemical EOR market is segmented into two key applications markets: onshore and offshore. Onshore is the largest application for EOR chemicals accounting for majority of the market share.

Global EOR chemicals market size to reach $891.02 Million by 2020

The market size for EOR chemicals is projected to reach $891.02 Million by 2020, at a CAGR of 5.00% between 2015 and 2020. North America dominated the EOR chemicals market in 2014. It is projected to remain the major market by 2020, growing at a CAGR of 5.02% between 2015 and 2020.

Polymer flooding is the majorly used technique for EOR chemicals and alkaline surfactant polymer accounted for the lowest market share in 2014

Polymer flooding held the major share in the EOR chemicals market by technique in 2014 and the trend is projected to continue by 2020. Surfactant polymer flooding is estimated to hold the second biggest market for the chemical EOR in 2014.

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