Global Surfactant EOR Market To Grow At A CAGR Of 4.13% By 2028

According to the report, the global Surfactant EOR market size was valued at approximately USD 70 Million in 2021 and is predicted to reach around USD 97 Million by the end of 2028, expanding at a CAGR of around 4.13% from 2022 to 2028.

EOR stands for enhanced oil recovery which refers to the process of using various chemical and non-chemical methods to extract oil from reservoirs once it has already been exposed to preliminary and secondary forms of oil extraction. One such chemical method is the use of surfactant flooding which helps in reducing oil found in the pores of matrix rock.

The process involves injecting surfactant into the reservoir system that aids the mobilization of residual oil which is achieved by lowering the tension value between water and oil or by changing the wettability index starting from oil-wet finalizing up to water-wet. When used in EOR processes, surfactants help in improving the wettability, the inclination of a liquid substance to spread on a solid surface, in porous rocks letting water flow through them at a faster rate thus displacing more oil. It is one of the few methods that can help resolve the growing demand in the oil & gas sector.

The global surfactant EOR market is witnessing high investments in the development of bio-grade surfactants that have less impact on the environment as opposed to their chemical counterparts which are anticipated to open new doors for high revenues in the coming years.

During Covid-19, the global market growth trend witnessed a downward trajectory owing to the restrained demand for oil & gas in the first quarter of 2020 along with major restrictions during the transportation of final goods along with issues related to the procurement of raw materials.

The global surfactant EOR market is projected to grow owing to the rising consumption rate of oil & gas across the globe along with increasing offshore and onshore activities undertaken by the most dominating global market players. In 2020, the United States government invested around USD 60.3 billion, as reported by Statista while the revenue generated in the same year was around USD 110.7 billion.

Saudi Aramco, one of the world’s leading oil & gas companies, generated USD 359.46 billion in revenue in 2021, as per the company’s official records. In 2021, the consumption value of finished motor gasoline averaged 8.8 million barrels per day. This may drive the market players to adopt methods of extracting more oil and accessing the segment that is yet left untouched.

The instability of surfactants in harsh conditions may restrict global market expansion while more opportunities can be expected due to growing research & innovation activities along with some challenges due to the high adsorption rate of surfactants

The global surfactant EOR market is segments based on application, type, category, origin, and region

Based on application, the global market is segmented into offshore and onshore, with the former leading with the highest CAGR due to the expertise of certain companies in managing activities related to the oil & gas sector, one of the fastest-growing industrial segments. In offshore activities risks are reduced and growth potential is further expanded. Hibernia, the world's biggest offshore plant, was estimated to have been built at the cost of USD 6 billion.

Based on type, the global market segments are coconut diethanolamide, alkyl propoxy sulfate sodium salts, di-tridecyl sulfosuccinic acid ester, and alkyl polyglycosides.

The global market witnessed a CAGR in the alkyl polyglycosides in 2021 owing to the wide application of the surfactant in most oil & gas companies. The compound is known to perform exceptionally well without hampering the quality of the product. ExxonMobil, the largest oil & gas company in the US, made over USD 23 billion in 2021.

Based on category, the global market is divided into bio-based and petroleum-based. Although the latter currently leads the global market there have been growing investments toward the development of bio-based surfactants and the segment may witness high revenue in the coming years. Currently, surfactant production in the US is based on 60% oleochemical feedstock and 40% petrochemicals.

By origin, the global market is fragmented into biosurfactants and surfactants with the latter leading the global market value. Biosurfactants are of microbial origin and may grow at a high CAGR in the coming years due to concerns about the negative impact of purely chemical-based surfactants. The cost of lipopeptide surfactants falls between USD 20 to USD 130 per milligram.

North America is anticipated to lead the global surfactant EOR market owing to the large number of offshore and onshore activities conducted by private companies in the US along with high investments from the governments as well. Canada is home to one of the largest offshore plants called the Hibernia which is claimed to produce over 220,000 oil barrels in one day during its peak production period. The region ranks third in the list of countries with the largest oil reserves while the US tops the list of companies in the global oil & gas sector.

The global surfactant EOR is dominated by players like TechnipFMC plc, Schlumberger Limited, ChampionX, Halliburton, Linde Plc, Chevron Phillips Chemical Company, and BASF SE amongst many others.

Recent Developments:

• In July 2019, Qatar Petroleum and Chevron Phillips Chemical announced a collaboration for the development of a petrochemical project in the U.S. Gulf Coast
• In March 2022, Saudi Aramco announced the company’s intention to hike its investment to increase oil production.

This review is based on a report by Zion Market Research, titled “Surfactant EOR Market By Type (Coconut Diethanolamide, Alkyl Propoxy Sulfate Sodium Salts, Di-Tridecyl Sulfosuccinic Acid Ester, and Alkyl Polyglycosides), By Origin (Biosurfactants, and Surfactants), By Application (Offshore, and Onshore), By Category (Bio-Based, and Petroleum-Based), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/surfactant-eor-market

The global surfactant EOR is segmented as follows:

By Type

• Coconut Diethanolamide
• Alkyl Propoxy Sulfate Sodium Salts
• Di-Tridecyl Sulfosuccinic Acid Ester
• Alkyl Polyglycosides

By Origin

• Biosurfactants
• Surfactants

By Application

• Offshore
• Onshore

By Category

• Bio-Based
• Petroleum-Based

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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