18 November 2022
Visiongain has published a new report: Chemical Enhanced Oil Recovery (EOR) Market Report 2022-2032: Forecasts by Type (Water-soluble Polymers, Surfactants, Polymer Gels, Biopolymers, Alkaline Chemicals), by Technique (Polymer Flooding (PF), Surfactant-Polymer (SP) Flooding, Alkali-Surfactant-Polymer (ASP) Flooding, Alkali-Co-solvent-Polymer (ACP) Flooding, Low Tension Gas Flooding (LTG), Others), by Origin (Petro-based, Bio-based, Water-based), by Application (Offshore, Onshore) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global chemical EOR market was valued at more than US$4.00 billion in 2022 and is projected to grow at a CAGR of 7.8% during the forecast period 2022-2032.
Continuous R&D Activities for Process Improvement
Chemical EOR is largely restricted to small-scale pilot tests. However, growing research & development work over the past few years to increase its application area is expected to further market expansion. Many universities and other educational establishments have focused on EOR and chemical EOR development, particularly universities in the US. Other countries have specialist divisions within larger oil companies researching chemical EOR, such as in the Middle East and Asia Pacific. Alongside this is the progress being implemented by international oil companies, who are developing new formulas and applications within house or in partnership with chemical experts.
How will this Report Benefit you?
Visiongain’s 303-page report provides 129 tables and 178 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global chemical EOR market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for chemical EOR. Get financial analysis of the overall market and different segments including type, technique, origin, application, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing chemical EOR market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
Strategic Initiatives taken by Leading Companies
Prominent companies operating in this industry are adopting different strategies such as new chemicals adoption, technological innovation, advanced production process, facility expansion, chemical production expansion, research and development, merger & acquisition, partnership, contract, and agreement in order to increase their geographical presence and consumer base in order to cater growing industry requirements. For instance, in Oct 2022, BASF and Hannong Chemicals announced a production joint venture for the commercial production of non-ionic surfactants in Asia Pacific.
The global chemical EOR industry is highly competitive in nature as large number of chemical EOR players are operating in developed as well as developing economies. Some leading companies operating in this industry are BP Plc., Canadian Natural Resources Limited, Cenovus Energy Inc., China National Offshore Oil Corporation, Equinor ASA, Royal Dutch Shell, Halliburton Company, Baker Hughes Company, Schlumberger N.V, Total SE, SINOPEC, PetroChina Company Limited, International Petroleum Corporation, Murphy Oil Corporation, Petroleum Development Oman (PDO), OMV AG (OMV), Oil and Natural Gas Corporation Limited, and BASF.
Notes for Editors
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Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
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