Rising demand for EOR Chemicals especially in North America

EOR chemicals are mainly used in the mature well and reserves in difficult terrains. Enhanced Oil Recovery is normally done using polymer flooding, surfactant polymer flooding and alkaline surfactant polymer flooding.

The EOR chemicals market is a highly fragmented market with a presence of large number of producers. There are many players with strong local presence in their respective regions. The key players in this market are opting for agreements to enhance their market reach into new applications and more eco-friendly products. The major companies in the market are BASF SE (Germany), Baker Hughes (U.S.), Halliburton (U.S.), and Schlumberger Limited (U.S.)., among others.

Water soluble polymers are expected to dominate the chemical enhanced oil recovery market by type in 2014. North America is estimated to be the largest market for the water soluble polymers in the EOR chemicals market share by value in 2014. Offshore applications are expected to show the highest growth owing to increasing consumption of EOR chemicals, primarily in North America and Europe.

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