Surfactant EOR Market Size, Share, Growth Report 2028

Surfactant EOR Market: Industry Perspective

The global surfactant EOR market size was worth around USD 70 million in 2021 and is predicted to grow to around USD 97 million by 2028 with a compound annual growth rate (CAGR) of roughly 4.13% between 2022 and 2028.

The report analyzes the global surfactant EOR market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the surfactant EOR market.

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Surfactant EOR Market: Overview

EOR stands for enhanced oil recovery which defines the practice of extracting oil in places or wells that have already undergone the previous process of oil recovery. EOR has shown a potential to become one of the only few ways of accessing almost 80% of the world’s untouched oil reserves. There are multiple methods of conducting EOR and one such practice includes the use of surfactant, which is classified as a chemical EOR.

Surfactants are described as compounds that aid reduction in surface tension between a gas and a liquid, between two liquids, or between a solid and a liquid. They may be used as emulsifiers, detergents, foaming, or wetting agents.

Key Insights

• As per the analysis shared by our research analyst, the global tackifier market is estimated to grow annually at a CAGR of around 4.13% over the forecast period (2022-2028)
• In terms of revenue, the global tackifier market size was valued at around USD 70 million in 2021 and is projected to reach USD 97 million, by 2028
• Due to a variety of driving factors, the market is predicted to rise at a significant rate
• Based on origin segmentation, surfactants were predicted to show maximum market share in the year 2021
• Based on category segmentation, petroleum-based was the leading category in 2021.
• On the basis of region, North America was the leading revenue generator in 2021

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Covid-19 Impact Analysis

The global market cap was severely impacted during the pandemic. As per an S & P report, Covid-19 impacted the global economy thus reducing the global demand for oil by 2.5 million barrels per day. Other factors that contributed to a low CAGR during the projection period were a halt in operational activities and concerns related to transportation.

Surfactant EOR Market: Growth Drivers

Growing demand in the oil & gas sector to propel market growth

The global surfactant EOR market is projected to grow owing to the increasing demand and requirement for oil & gas in the ever-growing commercial world along with a high urbanization rate further propelling the demand for a constant supply of oil & gas. One of the main reasons why the global oil & gas industry is witnessing high growth is the steady economic growth, which results in a higher need for energy. However, since oil & gas are non-renewable sources of energy, they have been declining at a constant rate due to overconsumption through the decades. As per official records, the world has around 47 years' worth of oil left in natural reservoirs and is depleting at a rate of 15%. On the other side, the demand for energy resources is at an all-time high.

Surfactant EOR Market: Restraints

Instability of surfactants in harsh conditions to restrict market expansion

Surfactants are highly unstable when used in harsh reservoir conditions which act as a major restraining factor for the global market trend. Due to these properties, various market players opt for different ways of enhanced oil recovery because surfactants have to be carefully chosen after analyzing the reservoir conditions which may act as an additional step in an already lengthy process or EOR.

Surfactant EOR Market: Opportunities

Growing research & innovation activities to provide excellent expansion opportunities

The global surfactant EOR market cap is projected to benefit from the increasing research & development activities associated with EOR for instance selection of hybrid methods using two or more forms of chemical process for maximum yield or the addition of bio-based chemicals having a lesser negative impact on the environment along with collaboration activities with research centers. All of these factors may create growth opportunities in the coming years.

Surfactant EOR Market: Challenges

High adsorption rate a major challenge during growth trend

Surfactants exhibit a high adsorption rate which refers to the adhesion of ions, atoms, and molecules from liquid, gas, or any dissolved solid to a given surface. This leads to the creation of a film of the adsorbate product on the adsorbent surface and diminishes the EOR output thus leading to a reduced return on investment. Navigating through these problems is a major challenge for global market players.

Surfactant EOR Market: Segmentation

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

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.

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.

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 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.

Recent Developments:

• In September 2020, BASF, a Germany-based largest chemical producer in the world, announced that the company had completed the installation of injection plants for enhanced oil recovery polymers in Argentina. These units are expected to help minimize polymer degradation and are essential parts of the large-scale chemical flooding projects conducted to improve oil recovery rates.
• In October 2021, Pertmina, an Indonesian national energy giant, announced its plan to invest USD 3 billion in the Rokan Block during the next five years. The move came after the company took over operations of Rokan Block from Chevron. Company leaders announced they are looking for partners to participate in a joint venture to develop a chemical EOR technology.

Surfactant EOR Market: Report Scope

Surfactant EOR Market: Regional Analysis

North America to lead the with highest CAGR during the projection period

North America is expected to dominate the global surfactant EOR market during the projection period owing to the massive offshore partnership witnessed in the US market which stood at the number one position in the ranking of the world’s top oil-producing companies in 2021. The country has witnessed a rise in oil production from 36, 922 billion barrels per day per million people in 2017 to 11, 184,870 billion barrels per day per million people in 2021.

The current political state of the world being affected by the Ukraine-Russia war is projected to become a major contributing factor to a change in power dynamics in the coming years. Asia-Pacific may also emerge as a crucial global member in the oil & gas sector which may directly impact the demand for chemical surfactants. 

Surfactant EOR Market: Competitive Analysis

The global surfactant EOR is dominated by players like;

• TechnipFMC plc
• Schlumberger Limited
• ChampionX
• Halliburton
• Linde Plc
• Chevron Phillips Chemical Company
• BASF SE

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