Surfactant EOR Market Size, Share, Industry, Forecast and outlook (2024-2031)

Surfactant EOR Market is Segmented By Type (Anionic surfactants, Others), By Origin(Chemical Surfactants, Biosurfactants), By Technique (Alkaline-surfactant-polymer (ASP) flooding, Surfactant-polymer (S.P.) flooding), By Application(Onshore, Offshore), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

Surfactant EOR Market Overview

The Global "Surfactant EOR Market"  is expected to reach  at a CAGR of 5% within the forecast period (2022-2029).

Surfactant EOR Market Scope 

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The method of recovering crude oil using surfactants is surfactant-enhanced oil recovery (EOR). Surfactant flooding and surfactant stimulation are two types of surfactant-enhanced oil recovery (EOR). Its strategy has proven effective since it uses a combination of processes to maximize oil recovery.

Interfacial tension, foam production, wettability modification, and emulsification are some of the mechanisms used in this method. Surfactants' primary function is to reduce interfacial tension and alter wettability. Surfactant EOR aims to mobilize the remaining oil far beyond the waterflood. In other to make surfactant EOR more practical and cost-effective, it must be thoroughly screened. Surfactant is used in a variety of processes in the petroleum industry.

Water flooding, emulsification, acidification, fracturing, and cement slurries are all procedures that require it. Surfactants EOR increases porous rocks' wettability, enabling faster water flow and more oil displacement. Surfactant EOR technologies intend to improve millions of barrels. Applications of surfactants in EOR are in both laboratory and field scales.

Source: DataM Intelligence Analysis (2023)

Surfactant EOR Market Dynamics and Trends

Increasing per capita oil consumption across the globe is boosting the surfactant EOR market. The rising importance of environmentally friendly bio-surfactants is driving the growth of the global surfactant EOR Market.

Increasing per capita oil consumption across the globe

One of the primary driving factors for the global surfactant EOR market is rising per capita oil consumption. According to the World Oil Review 2019, Saudi Arabia consumed 34.91 barrels of oil per capita in 2018, while Canada, the U.S., South Korea, Japan, Germany, and Brazil consumed 24.16, 23.12, 17.99, and 10.86 10.15 barrels, respectively. The mentioned companies are in the top ten countries with increased oil consumption per capita.

According to the B.P. Statistical Review of World Energy 2019, natural gas accounted for more than 40% of the rise in energy use. All fuels grew quicker than the previous ten years' average. As a result, rising per capita oil consumption has increased the demand for high oil recovery, which can be achieved using the surfactant EOR approach.

For instance, Surfactants EOR market growth is accelerating in Asia and the Middle East. During the projection period, ongoing surfactant EOR projects in China and India are projected to drive Asia and the Middle East. During the projection period, the EOR project in Qatar, the United Arab Emirates, and Kuwait will present the market with enormous development opportunities.

The rising importance of environmentally friendly bio-surfactants

The growing importance of environmentally friendly bio-surfactants is propelling the global surfactant EOR market. According to the Multidisciplinary Digital Publishing Institute (MDPI) 2018, for instance, Biosurfactants are microbial products that have been extensively explored due to their different discovered advantages.

Biosurfactants are eco-friendly products that have been proven to remove petroleum hydrocarbon pollution. As a result, the increased concern about environmental issues boosts demand for biosurfactants. According to Swansea University, they developed green surfactants for better oil recovery and considered the requirement for low-impact oil recovery solutions.

Furthermore, the growing demand for more effective oil recovery techniques and surfactant EOR's growing popularity propels the surfactant EOR market. However, the significant capital expenditure and the emergence of cheaper substitutes may limit the global surfactant EOR market's growth. Despite this, increasing advances in crude oil production may provide a chance for the worldwide surfactant EOR market to expand further.

Growing technological advancements over the past decade

Surfactant Enhanced Oil Recovery (SEO) has considerably lowered the surfactant required for successful oil recovery. In the 1970s & 1980s, surfactant concentrations ranged from 2 to 12%, which, when paired with the expense of the surfactants, proved too expensive.

Chemical concentrations in the range of 0.1-0.5% have been considerably reduced due to recent developments in research and surfactant product technology, dramatically reducing the required amount of chemicals. Surfactant production is currently producing EOR products that are more advanced and safer than ever before at a lower cost.

The best news is that these new developments have positively impacted the environment and human health. Surfactants generated from plant resources such as sunflower, soy, and corn oil are among the latest and most effective EOR surfactants. For instance, Envirofluid's Triple7 EOR comprises free fatty acids, fatty alcohols, esters, and wax esters generated from soy, corn, and seed oil fractions that have been amine-reacted. It's easily biodegradable, non-toxic, and risk-free.

COVID-19 Impact Analysis On Surfactant EOR Market

The COVID-19 pandemic has hurt the global surfactant EOR market's growth. The demand for chemicals and refined products has dropped due to industrial slowdowns and travel restrictions caused by the pandemic's lockdown in many nations globally. As a result, it had an impact on the surfactant EOR market. As a result of the coronavirus, the oil and gas industries have begun to reduce operating and capital expenditures to deal with the issue.

Furthermore, countries that are net oil exporters are facing a historic double blow: a global economic slowdown brought on by the COVID-19 pandemic and an oil market meltdown, with the benchmark price for U.S. crude oil, the West Texas Intermediate, briefly falling below zero for the first time in history (in April 2020). However, the improving vaccination percentage across the globe is expected to increase the surfactant EOR market in the forecast period.

Surfactant EOR Market Segment and Shares Analysis

The global Surfactant EOR market can be segmented on type, origin, technique, application, and region.

Biosurfactants have a variety of potential applications across the oil processing chain and in petrochemical product formulations, including emulsifying/demulsifying agents, anticorrosive biocides for sulfate-reducing bacteria, which is expected to escalate the market share for the segment

Based on origin, the global Surfactant EOR market is segmented into chemical surfactants and biosurfactants. Although biological surfactants have been utilized for thousands of years before the creation of chemical surfactants, chemical analogs are currently more widely used due to their perceived lower cost.

In the last few decades, the use of chemical surfactants has exploded. Surfactant output peaked at 10 million tonnes in 1970, rising to 40 million tonnes in 2000 and 5 million tonnes in 2018. Surfactants are employed as detergents and compounds in personal care products to the tune of 60%. Surfactants are also used in practically all other human activities and products. Medicines and supplements, oil and gas, agriculture, personal care and cosmetics, coatings and paintings, textile, food, construction, and more are some of the other applications.

However, Petroleum biotechnology has advanced in recent years due to a growing global demand for sustainable technologies that improve the efficiency of petrochemical processes in the oil sector. The petroleum industry employs large volumes of petrochemical-based synthetic surfactants as mobilizing agents to increase the availability or recovery of hydrocarbons and for various other extraction, treatment, cleaning, and transportation purposes.

Also, biosurfactants have a variety of potential applications across the oil processing chain and in petrochemical product formulations, including emulsifying/demulsifying agents, anticorrosive, biocides for sulfate-reducing bacteria, fuel formulation, bitumen extraction from tar sands, and many other novel applications. Biosurfactants are frequently described as valuable, versatile tools that can revolutionize and modernize petroleum biotechnology due to their versatility and demonstrated efficiency to convey an actual image of the state of the art and directions for application in the oil industry.

Source: DataM Intelligence Analysis (2023)

Surfactant EOR Market Geographical Analysis

The global surfactant EOR market is predicted to increase significantly in the Asia Pacific over the forecast period, owing to rising oil consumption in growing economies such as India and China.

The global surfactant EOR market is predicted to increase significantly in the Asia Pacific over the forecast period, owing to rising oil consumption in growing economies such as India and China. According to the B.P. Statistical Review of World Energy 2019, growth in oil demand grew in developing economies in 2018, with China accounting for 0.7 Mb/d and India contributing for 0.3 Mb/d, accounting for about two-thirds of the global increase.

Furthermore, with rising oil and gas demand from key countries like China and India, Asia-Pacific is driving the need for EOR in mature fields to meet oil and gas production targets, expected to drive demand for surfactants EOR. As of 2019, there were roughly 30 EOR projects in the Asia-Pacific area, with China leading the chemical injection portion of the market analyzed with approximately 58%. India's producing oilfields are rapidly aging, with the average recovery factor consistently falling below the global average.

The government has set a goal to reduce crude oil imports by 10% by 2022 as part of its broader "Energy Security" policy, with EOR emerging as a solution. Thus growing EOR projects in Asia-Pacific countries are expected to accelerate the market share for surfactants EOR in the forecast period.

Source: DataM Intelligence Analysis (2023)

Surfactant EOR Companies and Competitive Landscape

The Surfactant EOR market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are BASF SE, Huntsman Corporation, Dow, Chevron, Schlumberger Inc., Lubrizol Corporation, Sasol Ltd., Halliburton Company, Shell Chemicals, Solvay S.A., Stepan Company, Cairn India, Envirofluids. and others.

The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the market growth of the surfactant EOR globally.

• For instance, In September 2020, BASF SE announced installing enhanced oil recovery polymer injection plants in Argentina.

BASF SE

Overview: The Chemical Firm is BASF SE, a growing chemical company. Chemicals, polymers, performance items, crop protection products, and oil and gas are all part of its offering. The products and solutions offered by the company contribute to conserving resources, ensuring nutrition, and improving quality of life. BASF SE shares are traded on the Frankfurt (BAS), London (BFA), and Zurich stock markets (AN).

Product Portfolio: The Company has a product portfolio of surfactant EORes that include:

• Aspiro: By delivering its extensive range of Aspiro products, BASF SE combines knowledge in polymers and surfactants to facilitate increased oil recovery operations in a wide range of field circumstances, including more demanding and previously unexplored reserves. For instance, Aspiro P represents synthetic, water-soluble polymers for increased oil recovery based on well-established polyacrylamide technology.

Key Development

• For instance, in 2014, BASF SE launched the product range Aspiro for Enhanced Oil Recovery at SPE 2014 in Tulsa/Oklahoma, U.S.

Why Purchase the Report?

• Visualize the surfactant EOR market segmentation by type, origin, technique, application, and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the surfactant EOR market by analyzing trends and co-development deals.
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The global surfactant EOR market report would provide approximately 69 market data tables, 58 figures, and 180 pages.

Target Audience 2022

• Service Providers/ Buyers
• Onshore and Offshore Companies
• Emerging Companies
• Manufacturers
• Logistics companies
• Distributors