Enhanced Oil Recovery (EOR) Market Size, Share & Trends Report

Enhanced Oil Recovery (EOR) Market Size, Share & Trends Analysis Report By Technology (Thermal, Chemical, Gas Injection), By Application (Onshore, Offshore), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-343-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 150

Industry Insights

The global Enhanced Oil Recovery (EOR) market size was valued at USD 55.80 billion in 2018 and is expected to expand at a CAGR of 6.8% over the forecast period. The upsurge in the number of aged wells coupled with the increasing demand for oil are the factors expected to drive the growth.

The key participants are more inclined towards developing innovative technologies. For instance, the British Petroleum has developed the LoSal low-salinity water flooding technology that helps release the oil stuck in the clay. Such trends are likely to accelerate the market growth.

U.S. enhanced oil recovery Market

The EOR techniques are positioned when the primary and secondary recovery techniques become unproductive. Incorporation of tertiary extraction technology results in the modification of the oil properties, rock properties, and flow patterns in the reservoir. This implementation is increasing the capital investment, leading to more technological advancements in near future.

Enhanced oil recovery is a process where immobile residual oil is mobilized either chemically, thermally or physically. Tertiary recovery is used for the production of liquid hydrocarbons by using various techniques such as reservoir re-pressurizing techniques or artificial airlifts, which will augment the market growth during the forecast period.

Since past few years worldwide, Thermal Enhanced Oil Recovery (TEOR) has been the most substantial technology to extract oil from the matured oil wells. The others such as chemical recovery and gas injection are progressing at a significant rate owing to the numerous benefits such as cost-effectiveness and technological advancements.

Companies are trying to enhance the infrastructure and technologies to extract oil from the reservoirs because the demand for oil is expected to accelerate in the forthcoming years. Owing to the difficulty in extracting crude from onshore sources, companies have also started to extract oil from offshore sources as well, and is impacting the market growth positively.

As the price of crude oil fluctuate drastically, the oilfield service companies are finding it difficult to maintain cash flows and overall profitability, which may limit the market growth. However, companies are making massive investments in R&D activities to develop better resources, to produce oil as fast as possible, and to plan a better strategy for the market’s recovery.

Technology Insights

Based on technology, the Enhanced Oil Recovery (EOR) market is categorized into thermal, gas injection, and chemical EOR. In 2018, thermal technology held the leading market share of over 39% in terms of the volume of oil produced.

Thermal EOR is the most commonly used method and has observed huge success in the depleted basis of nations such as Venezuela, Indonesia, U.S., China, and Brazil. Owing to the rise in the E&P activities, the thermal technology is anticipated to grow rapidly in the Asian countries.

Gas injection method is projected to expand at a CAGR of 7.2% over the forecast period owing to its numerous benefits such as increasing pressure in the reservoir, resulting in increased oil production. Moreover, it is likely to register the highest growth and gain extensive popularity in U.S. and Canada.

To surge the production from oil wells, the chemical method involves introduction of surfactants and polymers. This method requires unknown recovery factors, high cost for chemicals, and adequate knowledge of chemical’s behavior in oil reservoirs, which results in failed projects. This method is increasingly employed in Asia Pacific and North America, as these regions have a large number of depleted bases with still high levels of recoverable hydrocarbons.

Application Insights

Based on application, the enhanced oil recovery industry is split into onshore and offshore. The onshore applications led the market with a share of over 90% in 2018. Additionally, in terms of revenue, the offshore application segment is anticipated to expand at a CAGR of 6.0% during the forecast period.

Most of the conventional onshore basins in countries such as Saudi Arabia, China, and Russia have been witnessing declining production rates. High demand to extract the remaining recoverable hydrocarbons along with rising gas production in these regions, is projected to boost the requirement for EOR techniques in near future.

Global enhanced oil recovery Market

The usage of enhanced oil recovery technologies in the offshore basins is likely surge in the estimated time span owing to the steady rise in the development of offshore wells in deep, as well as, ultra-deep waters in Gulf of Mexico, North Sea, South China Sea, and the Persian Gulf.

However, the techno-economic feasibility of EOR technology in offshore assets are being tested due to the limited number of operators in this space. Despite the limitations, the tertiary recovery technologies in this application is projected to gain traction in the next few years due to the rapid technological advancements as well as steeply declining production rates.

Regional Insights

North America led the global enhanced oil recovery market with a total share of over 40% in 2018 and is expected to gain significant share over the forecast period. Growing number of matured wells along with speculations of peak oil production in U.S. in 2018 clearly indicates the extensive utilization of tertiary extraction technique in the region.

For an instance, the Chevron North Sea Limited had initiated the phase I of the Caption Enhanced Oil Recovery project, and this will enlarge the caption filed platform area by six long injected wells. The main objective of this project is to utilize the polymer technology extensively and improvise on its production. Gas EOR especially CO2 injection in depleted oilfields is projected to gain significant traction over the next few years. Favorable government regulations related to Carbon Capture and Sequestration (CCS) and underground CO2 injection in U.S. is estimated to further boost deployment of the technology in the country.

Asia Pacific is expected to expand at a CAGR of 8.1% in terms of revenue over the forecast period. The ever-widening crude oil demand-supply gap coupled with several aging wells in Indonesia, China, and India is anticipated to steer the regional growth. Efforts by the federal governments of the aforementioned nations to boost the growth of indigenous petroleum production, is anticipated to spur the market growth.

The international players operating in this region are adopting competitive strategies and are continuously striving for technologically advanced EOR techniques to maintain the required production rates. For instance, Solvay has established an innovation care center in Singapore, which has a team that works on developing advanced EOR solutions.

Enhanced Oil Recovery (EOR) Market Share Insights

The market is highly competitive and moderately consolidated owing to the existence of a large number of experienced market participants. These participants expanding their reach by engaging in joint ventures with other companies. They obtain raw materials including CO2, polymers, and nitrogen from small-scale regional suppliers.

Companies are more inclined towards extracting oil from the offshore reserves, which will benefit the market growth. Since this industry has less number of small-scale key players, the multinational companies are investing massively on R&D to put forward new cost-effective technological development for enhanced oil recovery.

The major players operating in the market include Chevron Phillips Chemical Company LP; BP plc; ExxonMobil Corporation; China Petroleum & Chemical Corporation (Sinopec); Royal Dutch Shell plc; Petroliam Nasional Berhad (Petronas); Statoil ASA; Nalco Champion; Lukoil Oil Company; Chevron Corporation; Petroleo Brasileiro S.A. (Petrobras); Cenovus Energy Inc.; and Praxair Technology Inc.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Million Barrels; Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Norway, U.K., China, India

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Enhanced Oil Recovery (EOR) market report on the basis of technology, product, application, and region:

  • Technology Outlook (Volume, Million Bbl; Revenue, USD Million; 2014 - 2025)

    • Thermal

    • Gas Injection

    • Chemical

    • Other EOR

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • Surfactants

    • Polymers

    • Alkaline Chemicals

    • Alkali-Surfactant-Polymer (ASP) Formulations

    • Foamers

    • Others

  • Application Outlook (Volume, Million Bbl; Revenue, USD Million; 2014 - 2025)

    • Onshore

    • Offshore

  • Regional Outlook (Volume, Million Bbl; Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Norway

      • U.K.

    • Asia Pacific

      • China

      • India

    • Middle East & Africa

    • Latin America

      • Mexico

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