Growing need for healthcare and medical services across industries are rising the demand for chemical enhanced oil recovery market, Fact.MR Report

ROCKVILLE, MD , MD, UNITED STATES, February 18, 2025 /EINPresswire.com/ -- The chemical enhanced oil recovery market is expected to grow from USD 889.3 million in 2025 to USD 1,481.0 million in 2035. Fact. MR’s extensive study shows that the market will expand at a growth rate of 5.2% from 2025 to 2035.

The chemical enhanced oil recovery (CEOR) market is a significant segment of the global energy landscape, driven by rising demand for crude oil and the need to maximize recovery from mature oil fields. CEOR techniques employ specialized chemicals to improve the efficiency of oil extraction from reservoirs, making it a critical solution for extending the life of oil wells.

The use of water-soluble polymers is widely preferred due to their high capacity to increase viscosity and improve oil displacement. Polyacrylamides and other such polymers are highly used in challenging environments of salinity or temperature, making them more adaptable to industries.

The third important element is surfactants, which lower interfacial tension between oil and water, enabling the mobilization of the trapped oil. Various surfactant formulations have been made complex to operate under changing conditions such as pH or pressure and even extreme cases.

On the other hand, polymer gels are mainly applied in conformance control, providing additional zonal isolation and redirecting injectivity to areas that are relatively unexposed, thereby furthering increased recovery. Biopolymers are derived from nature, hence an environmentally-friendly solution that is as efficient, attracting operators who will use such solutions.

Alkaline chemicals, such as sodium carbonate, play a crucial role in the generation of in-situ surfactants through reaction with acidic crude, further assisting in oil mobilization. The industrial product mapping within CEOR shows its application across diverse geographies and reservoir types, demonstrating its integral role in optimizing oil recovery and meeting global energy demands amidst challenging resource constraints.

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Key Takeaways from Market Study:

Global chemical enhanced oil recovery market will grow at a CAGR of 5.2%, reaching USD 1,481.0 million by the end of 2035
North America will expand at a CAGR of 5.6% from 2025 to 2035, capturing 21.7% of the market share in 2025 and offering an absolute opportunity of USD 138.1 million
East Asia will account for 26.1% of market share in 2025, generating an absolute dollar opportunity of USD 165.2 million between 2025 and 2035
Between 2025 and 2035, by type in water-soluble polymers are expected to produce an absolute dollar opportunity USD 228.3 million
With a 42.8% market share, by technique, polymer flooding (PF) is estimated to be worth USD 381.0 million in 2025.

"With the intention to optimize oil recovery and provide creative solutions for established reservoirs and difficult extraction conditions, the chemical enhanced oil recovery market makes use of water-soluble polymers, surfactants, polymer gels, biopolymers, and alkaline chemicals.” says a Fact.MR analyst.

Leading Players Driving Innovation in the Chemical Enhanced Oil Recovery Market:

ChampionX; Clariant AG; Huntsman Corporation; Oil Chem Technologies; Shell Chemicals; BASF SE; TotalEnergies; SNF; Dow Chemical; Beijing Hengju Chemical; Chevron Phillips Chemical; Sasol Limited; Halliburton; Kemira Oyj.

Market Development:

Key companies involved in Chemical Enhanced Oil Recovery market are ChampionX, Clariant AG, Huntsman Corporation, Oil Chem Technologies, Shell Chemicals, BASF SE, SNF, Dow Chemical, Beijing Hengju Chemical, Chevron Phillips Chemical, Sasol Limited, Halliburton, Kemira Oyj and among others.

Chemical Enhanced Oil Recovery Market News:

In March 2022, the Oil and Natural Gas Corporation (ONGC), a government-owned entity in India, awarded two enhanced oil recovery (EOR) projects to SNF Flopam, with the Becharji field being the most recent recipient. The Becharji field is set to implement polymer flooding, a method of chemical enhanced oil recovery technology.

In August 2022, Ithaca Energy, a company dedicated to sustainable oil and gas production, submitted regulatory documents for the second phase of its EOR initiative at the Captain field in the North Sea. This phase will also employ the polymer flooding technique, aiming to enhance oil recovery and access an additional 40 million barrels from the site.

In August 2021, J-Power, a Japanese energy producer and wholesaler, in collaboration with Schlumberger, a U.S.-based oil service provider, announced their exploration of CO2-free hydrogen production through coal gasification technology. They plan to utilize the CO2 generated from this process for enhanced oil recovery purposes.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global Chemical Enhanced Oil Recovery market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2035.

The study reveals essential insights based on origin (petro-based, bio-based, water-based), by application (onshore, offshore), type (water-soluble polymers, surfactants, polymer gels, biopolymers, alkaline chemicals), technique (polymer flooding (PF), surfactant-polymer (SP) flooding, alkali-surfactant-polymer (ASP) flooding, alkali-co-solvent-polymer (ACP) flooding, low tension gas flooding (LTG)) and across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).

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