The global market report containing the microbial enhanced oil recovery market has predicted rise by 20% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in its attempt to understand the market, revealed various factors and dynamics that can trigger market growth.
Rising offshore exploration activities, growing demand for fuel, demand for cost-effective measures, the enhanced oil recovery process, and others are expected to make sure the market stays on its growth track in the coming years. Its features like removing the obstacles posed by the rocks and reservoirs' impermeability, the high viscosity of petroleum, and high capillary forces are also expected to trigger growth.
However, the rising adoption of alternative methods can disturb the growth process of the global Microbial Enhanced Oil Recovery Market Growth.
The global study of the microbial enhanced oil recovery market has included segments like application, bacteria injection, and well type. These segments help in getting data on dynamics that can help in forming strategies and influence the profit margin.
- By bacteria injection, the global study of the microbial enhanced oil recovery market includes segments like microbial flooding, cyclic or huff & puff, and feeding existing bacteria. The microbial flooding segment has the chance to dominate the global market as its technological superiority is expected to create grounds for better proliferation across end user industries. The method also allows operations without any pause.
- By application, the study of the global microbial enhanced oil recovery market includes segments like emulsification and de-emulsification, selective plugging, interfacial tension reduction, gas production, wettability alteration, and biodegradation. The interfacial tension reduction segment has the maximum market coverage. The market is getting more traction from this segment as both oil and water have high interfacial tension. This technology can be used to reduce that tension. It further acts in a positive way to reduce the viscosity of the oil.
- By well types, the discussion on the microbial enhanced oil recovery market includes segments like onshore and offshore wells. The onshore well segment has a better share as it incurs a lower cost for research and tests in onshore than in offshore.
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The global market for Microbial Enhanced Oil Recovery Industry is witnessing growth all across the world. In North America, Canada and the US are providing a strong premise for the market to grow. In Asia Pacific, China, India, and others are doing the same.
- Weatherford International (U.S.)
- RAM Biochemicals (U.S.)
- Synthetic Genomics (U.S.)
- Occidental Petroleum (U.S.)
- Titan Oil Recovery (U.S.)
- National Oilwell Varco Inc. (U.S.)
- BP (UK)
- Wintershall (Germany)
- Halliburton (U.S.)
- Glori Energy Inc. (U.S.)
- Genome Prairie (Canada)
- Chemiphase (UK)
These companies have employed diverse strategic mechanisms to make sure the outcome comes in favor of them and influence the market in positive ways. MRFR traced these mechanisms like merger, acquisition, innovation, branding, investment in marketing and research, and others to get a comprehensive idea about trends that are setting the market on a positive track.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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