DUBLIN, June 09, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/q5bw43/chemical_enhanced) has announced the addition of the "Chemical Enhanced Oil Recovery (EOR / IOR) Market by Origin, by Type, by Technique, & by Application - Regional Trends & Forecasts to 2020" report to their offering.
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.
EOR chemicals are used in the oilfield operations mainly to improve well performance and eventually the recovery from reserves. They are used through several techniques such as polymer flooding, surfactant polymer flooding, and alkaline surfactant polymer flooding. Increasing oil production, extraction of oils from technologically challenging hydrocarbon geologies, and necessity of more efficient extraction are boosting interest in the EOR chemicals market.
This market is driven by increasing production of crude oil, growing deep drilling activities, and high demand for EOR processes. The demand for EOR chemicals is increasing in the onshore activities to enhance crude oil production from mature or declining reserves. North America region is estimated to be the fastest growing region as EOR chemicals are registering a high growth in the region.
The North American region dominated the EOR chemicals market in 2014, globally. Canada, Mexico, Saudi Arabia, China and India are the major countries with a huge demand for EOR chemicals. Asia-Pacific is expected to show the highest growth rate of 5.45% between 2015 and 2020 for the chemical EOR market.
The key market players focus on agreements as their growth strategy in order to be able to cater to the growing demand for EOR chemicals and serve more consumers. They are also focusing on trying to capture market share by making more and more consumers aware of their products by participating in product showcasing.
The chemical EOR market is expected to witness a high growth from mature wells and developed regions as well as from offshore applications. One of the chief problems in the chemical EOR market is the constantly decreasing oil prices.
The report analyzes the market based on the key applications, origin, techniques, types, and regions. It also covers the market behavior of leading producers, key developments, and strategies implemented to sustain and succeed in the market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
6. Industry Trends
7. Chemical Enhanced Oil Recovery (EOR / IOR) Market, By Origin
8. Chemical Enhanced Oil Recovery (EOR / IOR) Market, By Type
9. Chemical Enhanced Oil Recovery (EOR / IOR) Market, By Technique
10. Chemical Enhanced Oil Recovery (EOR / IOR) Market, By Application
11. Regional Analysis
12. Competitive Landscape
13. Company Profiles
- Baker Hughes
- Champion Technologies
- Dow Chemicals
- Oil Chem
- Schlumberger Limited
- Shell Chemicals
- Stepan Company
For more information visit http://www.researchandmarkets.com/research/q5bw43/chemical_enhanced
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SOURCE Research and Markets