PUBLISHER: IMARC | PRODUCT CODE: 1541259
PUBLISHER: IMARC | PRODUCT CODE: 1541259
The global oil shale market size reached US$ 3.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032.
Oil shale is a sedimentary rock containing large amounts of fossil organic matter, known as kerogen. It is used to obtain liquid shale oil, which is further employed in the production of fuel oil, including gasoline, diesel, natural gas, and liquid petroleum gas (LPG), and other hydrocarbons using advanced processing methods. Its by-products can also be utilized to produce commercial products, such as ammonia, sulfur, alumina, soda ash, and nahcolite. At present, spent oil shale finds extensive application in cement production around the world.
Inflating crude oil prices and the cost benefits of using oil shale over conventional energy resources act as major factors shifting consumer preferences towards oil shale. The market is also influenced by boosting sales of vehicles on account of increasing income levels and rapid urbanization. Moreover, the growing electricity consumption and the construction of new power plants are catalyzing the demand for shale oil worldwide, which, in turn, is strengthening the market growth. Shale oil can be fired in a furnace as a boiler fuel to produce steam for power generation. Furthermore, a significant increase in construction activities across the globe is escalating the demand for cement and other products, which, in turn, is driving the market. Apart from this, advancements in drilling techniques and the advent of innovative technologies of mining and retorting are assisting in reducing the overall operating costs. This, in confluence with the development of new in situ methods for shale oil extraction and the rising use of geospatial infrastructure for managing large volumes of oil shale data, is anticipated to impel the growth of the overall market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global oil shale market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, process, technology and application.
Shale Gasoline
Shale Diesel
Kerosene
Heavy Oil
Oil Shale Exploration
Ore Preparation
Oil Shale Retortion
Shale Oil Refining
Others
In-situ
Ex-situ
Electricity
Fuel
Cement and Chemicals
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Resources Inc., AuraSource Inc., BP p.l.c., Chevron Corporation, Eesti Energia AS, Exxon Mobil Corporation, Independent Energy Partners Inc., Japan Oil, Gas and Metals National Corporation, Queensland Energy Resources and Royal Dutch Shell plc.