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A recent report published by Infinium Global Research on oil shale market provides an in-depth analysis of segments and sub-segments in global as well as regional oil shale market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional oil shale market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global oil shale market. According to the report, the global oil shale market is projected to grow at a CAGR of 23.20% over the forecast period of 2018-2024.
Oil shale is a rich fine-grained sedimentary rock formed from heating rich sediments and a significant amount of insoluble organic substance called kerogen. Oil shale can also be burned directly into the furnaces as a low-grade fuel for power generation and district heating or used as a raw material in chemical and construction-materials processing. The largest deposit of oil shale in the world is found in the Green River basin of Colorado, Utah, and Wyoming. It contains the equivalent of about 1.5 trillion barrels of shale oil. The main advantage of oil shale is that shale oil extraction methods are more flexible than traditional oil well drilling. The initial drilling only accounts for 40 percent of the total cost. Every barrel of oil produced from shale leaves behind about 1.2 to 1.5 tons of rock. Rising demand for energy and depletion of non-renewable energy are the factors driving the growth of the oil shale market. In addition, development in the drilling techniques is increasing the number of recoverable oil reserves, which in turn is fuelling the growth of the market. However, the high production cost of oil shale, low carbon content and environmental issues such as global warming and greenhouse gases are some of the factors restraining the growth of the oil shale market during the forecast period. Furthermore, research and development within the shale to reduce industrial pollution is anticipated to open up several growth opportunities for the key players in the oil shale market over the years to come.
Among the geographies, North America dominated the oil shale market due to the increasing new environmental reforms for the energy requirements in U.S.Moreover, Asia-Pacific is also anticipated to witness a market growth over the upcoming years. Presently, China is leading the market in terms of producing shale oil from oil shale. China has a large sum of Fushun retorts that process oil shale to derive shale oil In addition; efficient working of shale oil producer’s and growing energy demand are the major drivers for the North American markets.
The report on global oil shale market covers segments such a process, product and application. On the basis of process, the global oil shale market is categorized into in-situ and ex-situ. On the basis of product, the global oil shale market is categorized into shale diesel, shale gasoline, heavy oil and kerosene. On the basis of application, the global oil shale market is categorized into fuel, electricity, chemical and cement.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global oil shale market such as, Exxon Mobil Corporation, Global Oil Shale Group Limited, Queensland Energy Resources Ltd, Questerre Energy Corporation, Jordan Oil Shale Company B.V, Fushun Mining Group Co., Ltd., Chevron Corporation, BNK Petroleum Inc., Eesti Energia AS and Red Leaf Resources Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global oil shale market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of oil shale market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the oil shale market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the oil shale market to understand the present and future trends in this market and formulate their strategies accordingly.
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