The latest report on Oil Shale Market by Infinium Global Research gives complete coverage of the Oil Shale Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Oil Shale such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report Shall be Revised to 2020-2026. The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.
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Development in the Drilling Techniques is Increasing the Number of Recoverable Oil Reserves, Which in Turn is Fuelling the Growth of the Industry
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.
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Global Warming and Greenhouse Gases are Some of the Factors Restraining the Growth of the Oil Shale Market During the Forecast Period
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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Oil Shale.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.