The EOR chemicals market is projected to register a CAGR of 7.8% between 2014 and 2019 to reach $150.35 million by 2019. North America held the largest share in 2013 with the U.S. being the leading country. In the less explored markets of Asia-Pacific and Oceania, high growth is expected while the highly developed North American region is predicted to show highest growth. Growth in the North American region is expected to be from the increasing focus on deeper drilling operations
The major players in the EOR chemicals markets are divided into three groups EOR chemicals manufacturers, service companies, and EOR chemicals suppliers/distributors. Akzonobel NV (The Netherlands), BASF SE (Germany), DuPont (U.S.), and so on are the major EOR chemicals manufacturers whereas Baker Hughes (U.S.), Halliburton (U.S.), Schlumberger Limited (U.S.), and so on, are the major service companies in this market. These companies showed significant presence amongst other players in the fragmented global EOR chemicals market.
Capacity expansion was the most preferred strategy among the key players in the EOR chemicals market, globally. The key players are enhancing their existing production capacities in order to cater to the continuously growing demand for EOR chemicals.
Many companies, offering EOR chemicals, are actively trying to increase their product portfolio and regional presence to cater to different regional markets. They are primarily focused on entering the less explored markets in the developing regions.