Global chemical enhanced oil recovery (EOR) market is projected to grow from $0.9 billion in 2021 to $1.4 billion by 2031, with an average annual growth rate of 4.6%, according to Global Chemical Enhanced Oil Recovery Market Research (2021-2031) published by the Allied Market Research.
EOR is an efficient technique used to recover bypassed and residual oil trapped in the reservoir.
Chemical EOR methods use injected polymers, surfactants, and alkaline chemicals to boost extraction from mature oil fields where conventional recovery has declined.
Research notes that nanotechnology is being increasingly applied to improve chemical stability and recovery efficiency.
- Chemical EOR growth is driven by onshore demand
Research shows that the onshore segment accounted for nearly 75% of the market in 2021, supported by the large number of mature oil wells on land.
Offshore projects are also gaining attention, though high salinity, chemical storage, and cost challenges remain significant.
North America represented about 40% of global demand, led by the US with daily production of 16.6 million barrels.
Asia-Pacific output reached 7.34 million barrels per day, with China and India as the main contributors.
In Europe, the disruption of Russian supplies following the Ukraine conflict has driven governments to invest in recovery technologies.
Key players in the sector include ExxonMobil, bp, Shell, Sinopec, BASF, Chevron, Baker Hughes, Lukoil and Petrobras according to the research.
- Chemical methods strengthen role in energy security
Research underlines that while chemical EOR offers opportunities to extend the life of aging fields, high costs, environmental risks, and competition from carbon dioxide-based methods remain major constraints.
Onshore recovery is expected to remain the strongest application segment, holding the largest share of demand.
The global chemical EOR market is organized into multiple segments, reflecting the diversity of approaches and materials used in the sector.
By origin, the market includes petro-based, bio-based, and water-based chemicals.
In terms of type, key products comprise water-soluble polymers, surfactants, gels, biopolymers, and alkalis.
Techniques applied in the field range from polymer flooding and surfactant-polymer flooding to alkali-polymer flooding and low-tension gas flooding.
Finally, the application segment is split between onshore and offshore operations.
This segmentation highlights how companies are tailoring strategies to different geological conditions, chemical types, and operational environments, supporting ongoing growth in mature oil fields worldwide.
The core driver of market expansion is a gradual shift towards extracting more oil from existing reservoirs rather than relying on new discoveries.
By Humeyra Ayaz
Anadolu Agency
energy@aa.com.tr