Microbial Enhanced Oil Recovery (MEOR) Market Size & Share, by Bacterial Injection (Cyclic MEOR, Microbial Flooding, Feeding Existing Bacteria); Mechanism (In-Situ, Ex-Situ); Application (Interfacial Tension Reduction, Emulsification & De-emulsification, Selective Plugging, Wettability Alternation, Gas Production, Bio Degradation); Type (Ground Method, Reservoir Method) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3824
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Microbial Enhanced Oil Recovery (MEOR) Market size is expected to cross USD 200 Million by the end of 2035, growing at a CAGR of 20% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of microbial enhanced oil recovery was over USD 100 Million. The primary factor for market growth is the rapid boom in the global oil and gas industry.  The oil and gas industry plays a crucial role in energy management but is also a significant supplier of raw materials for chemical products, which include pharmaceuticals, solvents, fertilizers, pesticides, and others. Thus, to ensure reliable and stable operations of the oil and gas industry, microbial enhanced oil recovery (MEOR) plays an imperative role. Hence, with the intensive growth of the oil and gas industry, the utilization rate of microbial enhanced oil recovery (MEOR) is also expected to grow, which in turn is projected to help in expansion of market growth during the forecast period. The latest reports suggest that the revenue generation of the global oil and gas industry in 2022 was USD 5 trillion. This figure is further anticipated to increase and reach almost USD 10 trillion by 2025, with a growth rate of 10%.

With the recent escalation in the demand for energy fuels such as oil and petroleum, the demand for crude oil is also increasing subsequently. Therefore, drilling processes have also increased however large quantities of valuable oil remains trapped in the reservoir even after the implementation of oil extraction processes. In such scenarios, microbial enhanced oil recovery (MEOR) is used for extracting the remaining oil from the reservoirs and increasing the oil production to fulfill the worldwide demand for oils. This factor is considered to create many favorable opportunities for market players to generate robust revenue for market growth during the forecast period. Moreover, microbial enhanced oil recovery is an effective solution for clearing the obstacles in the way of optimized oil production including the high viscosity of petroleum, impermeability of the rocks and reservoirs, and high capillary forces that helps in retaining the oil in wells for further process. All these advantages couple up to create a positive outlook for market growth.


Microbial Enhanced Oil Recovery (MEOR) Market
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Microbial Enhanced Oil Recovery (MEOR) Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Crude Oil and Oil Products – Crude oil has been on a constant rise owing to its usage in various end-use industries such as transportation, automotive, energy, petrochemical, plastics, and many others. As crude oil is obtained through the drilling processes, the growing need for crude oil is expected to increase the utilization rate of microbial enhanced oil recovery (MEOR) for optimum results in drilling process. As per the latest data available, the daily demand for crude oil across the world increased from 90 million barrels per day in 2020 to 100 million barrels per day in 2022. This figure is supposed to further increase and reach 105 barrels per day in 2026.
  • The Rise in Oil Exploration & Production Activities – In the recent period, the government of different nations has been focusing on increasing the number of oil exploration and production activities to meet the global demand for oil and oil products. With the increase in the number of oil exploration projects, the demand for microbial enhanced oil recovery (MEOR) is also anticipated to rise which in turn, is projected to aid in the expansion of the global microbial enhanced oil recovery (MEOR) market during the analysis period. For instance, global oil production was calculated to be around 90 million barrels per day across the world which is further anticipated to increase to approximately 150 million barrels per day by 2033.
  • Constant Support by Various Governments – By 2024, the Indian government is planning to invest around USD 120 billion in the oil and gas industry. Out of these USD 120 billion, USD 60 billion is expected to direct towards exploration and production (E&P) activities, and the rest USD 60 billion in natural gas infrastructure.
  • High Expenditure in Research & Development – World Bank released the global expenditure made in the Research & Development (R&D) sector which showed that in 2020 it was 2.63% of the total GDP. This is an increase from year 2.14% of the total GDP in 2016.

Challenges

  • High Cost of Procedure – The process of microbial enhanced oil recovery is the utilization of bacteria and their by-products for increased mobility of oil from the reservoirs. This process requires a lot of investment. This factor is anticipated to hamper market growth during the forecast period.
  • Increased Risks During the Drilling Processes
  • Fluctuation in the Price of Crude Oil and End Products

Microbial Enhanced Oil Recovery (MEOR) Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~20%

Base Year Market Size (2022)

~ USD 100 Million

Forecast Year Market Size (2035)

~ USD 200 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Microbial Enhanced Oil Recovery (MEOR) Segmentation

Well Type (Onshore, offshore)

The global microbial enhanced oil recovery (MEOR) market is segmented and analyzed for demand and supply by well type into onshore, and offshore. Out of the two types of well types, the onshore segment is estimated to gain the largest market share of about ~59% in the year 2035. The primary factor for market growth is the increased number of onshore oil rigs as compared to offshore oil rigs present over the oil. For instance, it was calculated that at the end of 2021, there were 1,300 operational onshore oil rigs, compared with 200 offshore rigs across the world. Furthermore, the availability of oil is more in onshore wells owing to which, more investors are propelled more invest in onshore wells. Also, in onshore wells, oilfield chemicals are easily available which is considered to contribute positively to segment growth during the forecast period.

Mechanism (In-Situ, Ex-Situ)

The global microbial enhanced oil recovery (MEOR) market is also segmented and analyzed for demand and supply by mechanism into an in-situ mechanism, ex-situ mechanism, and others. Amongst these two segments, the in-situ mechanism segment is expected to garner a significant share of around ~46% in the year 2035. In-situ mechanism, there is a generation of gases, acids, biopolymers, and others owing to the stimulation of different indigenous bacteria under appropriate reservoir conditions. Also, the in-situ mechanism involves the utilization of microbial growth and metabolism in the reservoir. All these advantages of the in-situ mechanism are anticipated to aid the expansion of segment growth.

Our in-depth analysis of the global market includes the following segments:

         By Bacterial Injection

  • Cyclic MEOR
  • Microbial Flooding
  • Feeding Existing Bacteria

        By Mechanism

  • In-Situ Mechanism
  • Ex-Situ Mechanism
  • Others

        By Application

  • Interfacial Tension Reduction
  • Emulsification & De-emulsification
  • Selective Plugging
  • Wettability Alternation
  • Gas Production
  • Bio Degradation

         By Well Type

  • Onshore
  • Offshore

        By Type

  • Ground Method
  • Reservoir Method

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Microbial Enhanced Oil Recovery (MEOR) Industry - Regional Synopsis

North American Market Forecast

The market share of microbial enhanced oil recovery (MEOR) in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035, owing to the large consumption of petroleum, petroleum products, and oilfield chemicals. The procuration process of these products requires drilling which in turn generates the need for microbial enhanced oil recovery (MEOR) for obtaining these products. As per U.S. Energy Information Administration revealed that in 2021, the United States consumed an average of about 19.89 million barrels of petroleum per day or a total of about 7.26 billion barrels of petroleum. Also, the high demand for energy by the American population is another growth factor of the market in the region. In 2021, total U.S. primary energy consumption was equal to about 97,331,601,000,000,000 Btu, or about 97 quadrillions Btu, as stated by U.S. Energy Information Administration.

APAC Market Statistics

The Asia Pacific microbial enhanced oil recovery (MEOR) market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The presence of major key players in the region and their rising investments in the oil and gas industry is considered to be the major factor for market growth in the region. Also, the companies are propelled to shift towards frugal, economical, and innovative technologies such as microbial enhanced oil recovery (MEOR) to reduce the cost of fracking. Furthermore, the increased shale gas exploration and extraction activities are expected to create opportunities for market growth during the forecast period.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The government of Europe is initiating opportunities for research, development, and demonstration of microbial enhanced oil recovery by investing funds and grants. This factor is majorly driving market growth in the region during the analysis period. Also, the European region is a prominent exporter of oil and gas in the world with the presence of various oil and gas production sites which generates the need for microbial enhanced oil recovery (MEOR). This factor is estimated to create a positive outlook for market growth during the forecast period.

Research Nester
Microbial Enhanced Oil Recovery (MEOR) Market Size
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Companies Dominating the Microbial Enhanced Oil Recovery (MEOR) Landscape

top-features-companies
    • DuPont De Nemours Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BP Plc
    • Chemiphase Ltd.
    • Environmental BioTechnologies Inc.
    • Equinor ASA
    • Micro-Bac International Inc.
    • ONGC TERI Biotech Ltd.
    • RAM Biochemicals Inc.
    • Titan Oil Recovery Inc.
    • Qyrin Petroleum Technology

In the News

  • TechnipFMC opened a surface international facility in ICAD II, with the main aim to assist ADNOC in enhancing its operations in Abu Dhabi.

  • ONGC joined hands with Indian Oil for reducing carbon emissions during enhanced oil recovery by injecting carbon dioxide captured from IOCL’s Koyali refinery.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 3824
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the market growth are the increasing number of mature wells across the globe, and the growing demand for cleaner sources for extracting oil.

The market size of microbial enhanced oil recovery (MEOR) is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2023-2035.

Growing adoption of renewable sources of energy is estimated to hamper the market growth.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are DuPont De Nemours Inc., BP Plc, Chemiphase Ltd., Environmental BioTechnologies Inc., Equinor ASA, Micro-Bac International Inc., ONGC TERI Biotech Ltd., RAM Biochemicals Inc., Titan Oil Recovery Inc., Qyrin Petroleum Technology, and other key players.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by bacterial injection, type, mechanism, application, well type, and by region.

The bacterial flooding segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Microbial Enhanced Oil Recovery Market Report Scope
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