The Surfactant EOR Market size is estimated to reach US$82.6 million by 2027, after growing at a CAGR of 3.2% during the forecast period 2022-2027. The use of Surfactant EOR Onshore oil & gas industry has increased significantly. Surfactant-enhanced oil recovery (EOR) includes surfactant flooding and surfactant stimulation. Surfactants' primary functions are to reduce interfacial tension and to change wettability. The global surfactant EOR market is benefiting from rising per capita oil consumption. The expanding oil and gas sector is driving the growth of the surfactant EOR market, which is used to increase oil production by increasing oil mobility and allowing good displacement of the oil by the administered water via the surfactant flooding technique. According to the B.P. Statistical Review of World Energy 2019, natural gas accounted for more than 40% of the rise in energy use.
On the basis of geography, the Surfactant EOR market can be segmented into North America, South America, Europe, APAC, and EMEA. According to IndustryARC’s analysis, North America has emerged as the most profitable region in the market. In 2022, the Asia-Pacific region held a 38% share of the total revenue earned by the market globally. The growing oil and gas industry has boosted the growth of the surfactant EOR market, as it is widely used for wettability modification of porous rocks in industries such as exploration and development, chemical, and refining. According to the Canadian Association of Petroleum Producers (CAPP), capital investments in 2021 were approximately US$3.36 billion higher than expected, with upstream oil and gas investment increasing by 14% to US$27.3 billion in 2021, up from US$24 billion in 2020. The Surfactant EOR market will also gain demand from the Asia-Pacific region. India and China are emerging as competitive countries in the surfactant EOR market.
- In January 2022, Evonik expanded a new production plant for bio-based and fully biodegradable rhamnolipids. Rhamnolipids are biosurfactants and act as an active ingredient, to serve the growing demand for environmentally friendly surfactants.
- In March 2021, BASF signed two distinct partnership agreements to expand its global leading position in the bio-based surfactants and actives market. BASF established a strategic alliance with Allied Carbon Solutions Co., Ltd (ACS) Japan and with Holiferm Ltd., UK.