Oil shale is a sedimentary rock formation, which contains organic matter such as kerogen, bitumen, and others. This organic matter on exposure to heat produces liquid hydrocarbon products at different temperatures. The recovery of hydrocarbon is done from shale, and it requires advanced drilling technology such as hydro fracturing.
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On the basis of product type, the market is segmented into oil, gas, coke, and others. Oil is the most lucrative product type segment in the oil shale market as there is large proportion of oil present in kerogen. Kerogen is the organic compound that is extracted from oil shale.
On the basis of process, the market is divided into in-situ and ex-situ. The in-situ method is projected to be the most lucrative segment, owing to its environment-friendly extraction of oil shale. During the extraction of oil shale, the ground water is contaminated by the chemical that is used in the extraction process. Recent development in the in-situ method is more effective against contamination as a frozen wall is made, which is used to protect the ground water from contamination.
Based on application, the market is bifurcated into electricity, fuel, cement, and others. The cement segment is estimated to grow at the highest CAGR during the forecast period, owing to the large production of spent shale during kerogen extraction. This spent shale is used as an ingredient in the cement industry to produce cement.
Estonia and China collectively accounted for more than fourth-fifth share of the global oil shale market, in terms of value. This is attributed to the growing inclination on unconventional oil & gas coupled with new development of extraction techniques, which drives the growth of the Estonia and China oil shale market. Moreover, upsurge in the number of oil shale projects in Estonia and China offers growth opportunities to the oil shale market.
Key Players Covered in Market Research Report
- AFSK HOM TOV
- American Resource Petroleum Corp.
- American Shale Oil Corp. (AMSO)
- Aurasource, Inc.
- Blue Ensign Technologies Ltd.
- Chattanooga Corp.
- Chevron Shale Oil Company
- Eesti Põlevkivi
- Electro-Petroleum, Inc.
- Exxon Mobil Corp.
The following are the regions covered in this report.
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
Key Findings Of the Oil Shale Market:
- The oil segment accounted for a share of nearly three-fourths in the global oil shale market in 2017 in terms of value.
- The cement segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Estonia accounted for more than three-fourth of the global oil shale market in 2017 in terms of value.
- The U.S. region is anticipated to grow at the highest rate in the global oil shale market during the forecast period, followed by China.
- The electricity segment accounted for a share of nearly three-fourths in the global oil shale market in 2017 in terms of value.
Reasons for Buying this Report:
- Complete analysis on market dynamics, market status and competitive oil shale view is offered.
- Forecast Global oil shale Industry trends will present the market drivers, constraints and growth opportunities.
- The five-year forecast view shows how the market is expected to grow in coming years.
- All vital Global oil shale Industry verticals are presented in this study like Product Type, Applications and Geographical Regions.
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