Surfactant Enhanced Oil Recovery (EOR) Market, by Origin (Chemical Surfactants, Biosurfactants), Type (Alkylpolyglycosides, Coconut Diethanolamide, Di-Tridecyl Sulfosuccinic Acid Ester, Alkylpropoxy Sulfate Sodium Salts), Form (Anionic surfactants, Cationic surfactants, Non-ionic surfactants), Technique (Polymer Flooding (PF), Surfactant-Polymer (SP) Flooding, Alkali-Surfactant-Polymer (ASP) Flooding, Alkali-Co-solvent-Polymer (ACP) Flooding, Low Tension Gas Flooding (LTG)), Application (Onshore, Offshore), Category (Petro-based, Bio-based), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The Surfactant Enhanced Oil Recovery (EOR) Market size was estimated at USD 75.72 million in 2023 and is projected to reach USD 99.85 million in 2030 at a CAGR of 4.03 during the forecast period 2023-2030.
Surfactant Enhanced Oil Recovery (EOR) Is a technique used in the oil industry to improve the extraction of oil from reservoirs. Surfactants, or surface-active agents, are chemicals that can reduce the surface tension between liquids, such as oil and water. In Surfactant EOR, surfactants are injected into the reservoir to alter the interfacial properties between the oil, water and rock surfaces. This helps to mobilize and displace trapped oil, making it easier to flow through the reservoir and ultimately be recovered. Surfactant EOR can increase the efficiency of oil extraction, particularly in reservoirs where conventional methods have become less effective.
The growth of the Surfactant Enhanced Oil Recovery (EOR) market is mainly being driven by increasing production from maturing oilfields and rising demand for oil. Moreover, new surfactant technologies are being developed that are more effective and less harmful to the environment. This is making surfactant EOR more attractive to oil producers. In addition, governments in many countries are imposing regulations that require oil producers to recover more oil from their fields. This is creating a demand for EOR technologies, such as surfactant EOR.
On the other hand, their high cost and challenging implementation might hamper the growth of the market during the forecast period. This can lead to problems such as emulsion formation and surfactant loss. Moreover, surfactants can be harmful to the environment if they are no properly disposed of. This can create a barrier to the adoption of surfactant EOR.
The coronavirus epidemic hurt the market for surfactant-enhanced oil recovery (EOR), just as it hurt the worldwide oil and gas sector. As governments launched a partial or total lockdown strategy to deal with the epidemic, numerous oil and gas firms across regions were compelled to shut down their manufacturing facilities and services. Major oil and gas projects were also been suspended or delayed by regional businesses. The COVID-19 epidemic also affected the cost of crude oil, well drilling and production, and the oil and gas supply chain. The enhanced oil recovery business has suffered more short- and medium-term damage as a result of the decline in production activities.
The Surfactant Enhanced Oil Recovery Market is expected to grow during the forecast period. This growth can be attributed to several factors. Firstly, as oil fields mature, the oil becomes more difficult to extract. Surfactant EOR can help to improve the recovery of oil from these mature fields. Moreover, the world’s demand for oil is expected to continue to grow in the coming years. Surfactant EOR can help to meet this demand by increasing the amount of oil that can be recovered from existing fields. In addition, new surfactant technologies are being developed that are more effective and less harmful to the environment. This is making surfactant EOR more attractive to oil producers. However, Surfactant EOR is a relatively expensive technology. This can make it prohibitively expensive to some oil producers.
North America to Dominate the Market