The Enhanced Oil Recovery (EOR) market is expected to grow at a CAGR of 7.8% to reach USD 90.68 billion by 2025.
Recent innovations in technologies related to enhanced oil recovery systems have laid the foundations for growth for the companies operating in the market. According to a report by AnalystView Market Insights, titled “Enhanced Oil Recovery (EOR) Market” the market will be valued at USD 90.68 Billion by the end of 2025 thereby exhibiting a CAGR of 7.8%.
The report provides a detailed analysis of the global EOR market. Factors such as increasing mergers and acquisitions, growing demand for oil, energy conservation, and awareness regarding environmental preservation have made a significant influence on the growth of the market. The report encompasses several such factors that have emerged in favor of market growth. Besides, the report includes a few of the factors that have restrained the growth of the market. Additionally, the report analyses the vendor scope of the global enhanced oil recovery market and labels leading players across the world.
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Stepan and Nalco’s ‘Integrated EOR Platform’ is one of the Major Highlights of Recent Times
The advancements in enhanced oil recovery have contributed to rapid growth for the companies operating in the global market. The limited availability of hydrocarbons has created a need for efficient alternate methods. The growing demand for oil and natural gas has led to a huge emphasis on the research and development of advanced methods to extract oil and natural gas. As a result, several companies the market has witnessed the launch of several new products that are capable of sufficing these needs. In 2018, Stepan and Nalco announced a collaborative launch of an integrated EOR platform. Through this product, the company aims to generate a high EOR market revenue in the coming years. Such company collaborations will constitute an increase in the global EOR market size in the coming years.
Besides Stepan and Nalco, the global EOR market derives growth from a few of the other leading companies. Some of the companies that have adopted attractive business strategies and established a strong market presence are:
Browse 78 Tables and 130 Figures spread through over 150 Pages and in-depth TOC on “Enhanced Oil Recovery (EOR) Market, By Technology (Chemical, Thermal and Gas Injection), By Chemical, By Application and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa) – Analysis, Share, Trends, Size, & Forecast from 2014 – 2025”
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The scope of this report covers the market by its major segments, which include as follows:
ENHANCED OIL RECOVERY (EOR) MARKET, BY TECHNOLOGY
ENHANCED OIL RECOVERY (EOR) MARKET, BY CHEMICAL
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ENHANCED OIL RECOVERY (EOR) MARKET, BY APPLICATION
ENHANCED OIL RECOVERY (EOR) MARKET, BY REGION