MICROBIAL ENHANCED OIL RECOVERY MARKET ANALYSIS
Asia Pacific is anticipated to witness lucrative growth during the forecast period, owing to the rising imports of crude oil by the emerging economies such as India and China in order to meet the rising demand for crude oil. Moreover, these two economies are highly energy deficient and are reliant on imports. The imports of crude oil are majorly from Middle Eastern and African regions. Currently, Middle East caters to around 50% of China’s imports in 2016. The scenario is expected to sustain, as China struggles to diversify its imports. According to the Government of India, the country imported 109.09 million tons of crude oil from 10 Middle East nations in the 2015-16, which was 59% of the total oil imports.
Growing automobile and petrochemical industries in the region are propelling demand for crude oils. India is focused on diversifying oil imports and plans to reduce its dependence on the Middle East by increasing imports from Africa, as announced by India’s Oil Minister. As growth of microbial enhanced oil recovery market is dependent on oil consumption, long term consumption security ensures steady growth of microbial enhanced oil recovery market.
Figure 2. Global Microbial Enhanced Oil Recovery Market Share (%), By Region, 2017
Source: Coherent Market Insights, 2017-18
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize Now
Credibility and Certifications
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
U.S.: 
U.K. : 
India : 
