“A research report on Asia-Pacific Enhanced Oil Recovery Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.
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Factors such as high cost of exploration and growing need to improve production of extra heavy crude oil are driving the enhanced oil recovery market in Asia-Pacific. Countries such as China, India, South Korea and Indonesia accounted for 80% of the total consumption in Asia-Pacific. The regional market for EOR is anticipated to increase marginally until 2022, due to slump in crude oil prices. Loss in the profit margins due to the low crude oil prices would forbid the producers to increase oil production in the region, thus positively affecting the EOR market. Slow increase in the APAC EOR market by volume is due to the low crude oil prices, lesser production and slowdown in the Chinese economy. However, the market is anticipated to record better prospects after 2022.
According to “Global Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, By Region, Competition Forecast & Opportunities Asia-Pacific enhanced oil recovery market is projected to grow at a CAGR of over 12%, in value terms Some of the leading players in Asia-Pacific enhanced oil recovery market include The Halliburton Company, BP P.L.C., China Petroleum & Chemical Corporation, Royal Dutch Shell plc, Total S.A., China National Offshore Oil Corporation and Linde AG. Onshore activities in the Europe enhanced oil recovery market dominated the by type market was dominated by Thermal. “Asia-Pacific Enhanced Oil Recovery Market, Competition Forecast & Opportunities report elaborates following aspects of the EOR market in Asia-Pacific:
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