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Kenneth Research, in its repository of market research reports, has recently added a report on Microbial Enhanced Oil Recovery (MEOR) Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Microbial Enhanced Oil Recovery (MEOR) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Microbial Enhanced Oil Recovery (MEOR) Market products.
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A report on Microbial Enhanced Oil Recovery (MEOR) Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Microbial Enhanced Oil Recovery (MEOR) Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Kenneth Research has released a report on Microbial Enhanced Oil Recovery (MEOR) Market that studies the segments, trends, opportunities, growth drivers and restraints for the market throughout the forecast period, i.e. 2021 2025. The report further contains key matrices and industrial insights that helps decision makers to understand better about the market, including both the current scenario as well as the consequences in the coming years.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies and stakeholders) and secondary research, the report aims to present the analysis of Global Microbial Enhanced Oil Recovery Market.
The report has analysed the Microbial Enhanced Oil Recovery Market By Metabolic Products (Biomass Formation, Bio-Surfactants, Bio-Polymers, Bio-Solvents, Organic Acids, Bio- Gases, Bio-emulsifiers, and Hydrocarbon Metabolism), By Applications (Interfacial tension reduction, Emulsification and de-emulsification, Selective plugging & Wettability alteration, Gas production, Biodegradation), By Well Type (Offshore & Onshore). The Global Microbial Enhanced Oil Recovery Market has been analysed By Region (North America, Latin America, Europe, Asia Pacific, MEA) and By Country (US, Canada, Rest Of North America, Mexico, Venezuela, Rest Of Latin America, Russia, Rest Of Europe, China, Australia, Rest Of Asia Pacific, Oman, Kuwait, Saudi Arabia, Angola, Rest Of MEA) for the historical period of 2014-2018 and the forecast period of 2019-2024.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Microbial Enhanced Oil Recovery Market was valued at USD 195 Million in the year 2018 with global production volume of 2620.83 Thousand tonnes oil eq. Aging Oil and Gas Infrastructure , Rise in offshore drilling activities, Need for alternative technologies, Economic & Environmental Factors, Lower Crude Oil Prices, CO2 Reducing Emission Policies & Rise in Demand for Fuel are the basic reasons behind increased demands for the Microbial Enhanced Oil Recovery Market. Global Microbial Enhanced Oil Recovery market has gained importance as increasing consumption requirement influences the exploration of already matured oilfields. These markets are influenced by many factors including fluctuating crude oil and natural gas prices, changing consumer preferences, growing concern to reduce greenhouse emission and the overall strength of the economy.
China has high exporting capacity for Natural Gas as well as being the world's largest net importer of petroleum and other liquids. This has made Asia Pacific market for MEOR to grow during 2019-2024. Similarly, MEOR Market for Middle East & Africa comprises of Oman, Kuwait, Saudi Arabia, Angola, as their most demanding nations for oil and gas because of their high consumption demand for energy due to high industrial and manufacturing sector. North America has been able to maintain its high market for MEOR owing to its numerous MEOR field trials & projects especially in United States and Canada.
Scope of the Report
Global Microbial Enhanced Oil Recovery Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Metabolic Product – Biomass Formation, Bio-Surfactants, Bio-Polymers, Bio-Solvents, Organic Acids, Bio- Gases, Bio-emulsifiers, and Hydrocarbon Metabolism
• Analysis by Application – Interfacial tension reduction, Emulsification and de-emulsification, Selective plugging & Wettability alteration, Gas production, Biodegradation.
• Analysis by Well Type – Offshore, Onshore
• Competitive Landscape
Regional Market – North America, Latin America, Europe, Asia Pacific, Middle East & Africa (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Metabolic Product – Biomass Formation, Bio-Surfactants, Bio-Polymers, Bio-Solvents, Organic Acids, Bio- Gases, Bio-emulsifiers, and Hydrocarbon Metabolism
• Analysis by Application – Interfacial tension reduction, Emulsification and de-emulsification, Selective plugging & Wettability alteration, Gas production, Biodegradation.
• Analysis by Well Type – Offshore, Onshore
• Prominent Companies
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Country Analysis – Microbial Enhanced Oil Recovery Market – United States, Canada, Mexico, Venezuela, Russia, China, Australia, Oman, Kuwait, Saudi Arabia, Angola (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Metabolic Product – Biomass Formation, Bio-Surfactants, Bio-Polymers, Bio-Solvents, Organic Acids, Bio- Gases, Bio-emulsifiers, and Hydrocarbon Metabolism
• Analysis by Application – Interfacial tension reduction, Emulsification and de-emulsification, Selective plugging & Wettability alteration, Gas production, Biodegradation.
• Analysis by Well Type – Offshore, Onshore
• Prominent Companies
Other Report Highlights
Market Share of Leading Companies
Market Dynamics – Trends, Drivers, Challenges
Company Analysis – Equinor, Gulf Energy LLC, BP Plc, Royal Dutch Shell Plc., Glori Energy Inc., ConocoPhillips, DuPont, Genome Prairie, Chemiphase, Titan Oil Recovery Inc.
Customization of the Report
The report could be customized according to the client's specific research requirements. No additional cost will be required to pay for limited additional research.
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