Global enhanced oil recovery (EOR) market is expected to reach USD 283 billion by 2020, according to a new study by Grand View Research, Inc. Growing global energy demand is expected to remain a key driving factor for global EOR market. Rising number of mature oil wells, particularly in the Middle East and Latin America coupled with high productivity yields associated with EOR techniques is also expected to have a positive impact on the market growth over the next six years. Long lead time coupled with volatile crude oil prices is expected to remain a key challenge for market participants.

Wood protection coatings market is expected to witness significant growth over the next six years on account of rising construction spending coupled with increasing demand for furniture, sliding and decking products. Increasing demand for wood products in luxury cars and cruises is expected to augment demand for protection coatings thereby increasing its market share. Growing demand for wood protection coatings in residential applications including cabinets and floorings is expected to propel market growth.

Methyl tertiary butyl ether (MTBE) market is expected to witness significant growth over the next six years on account of its increasing consumption as a fuel additive in gasoline engines. In addition, the demand for MTBE is expected to grow as it improves the octane number of fuel, reduces harmful emissions and provides good anti-knocking properties to the engine.Moreover, rising demand for gasoline and its additives in oil & gas and marine sectors is expected to propel market growth over the forecast period.