Coal oil is a colorless oil that is distilled from bituminous coal and used as a fuel for lamps. Chemically, coal oil is similar to kerosene. Coal oil is a shale oil. It is obtained from the distillation of cannel coal, mineral wax, and bituminous shale. Coal oil has higher boiling point compared to gasoline or petroleum ethers. Conventionally, coal oil is used in lighting applications. It can also be used for cooking and as a fuel for automobiles. Coal oil is derived from fossil fuels. The oil has low vapor pressure and hence, higher flash point compared to gasoline or LPG (liquefied petroleum gas). Coal oil has lower risk of explosion.

Demand for coal oil in automotive and aerospace industries is on the rise. Low vapor level of coal oil makes it suitable for jet engine applications, as it lowers the risk of exploding. Rise in the demand for coal oil for cooking applications is a key factor boosting the coal oil market. Recent advancements in the renewable energy sector are anticipated to augment the coal oil market in the next few years. According to the International Energy Agency, the global demand for natural gas is expected to increase by 1.6% per year over the next few years. This is anticipated to propel the coal oil market during the forecast period. Rise in the demand for fossil fuels in the chemical industry is also estimated to drive the coal oil market in the next few years. In the medical sector, coal oil is employed for treating disorders such as athlete’s foot, cold, and influenza. However, implementation of regulations related to coal gas exploration and production is projected to restrain the coal oil market in the near future.

Based on method of exploration, the global coal oil market can be segmented into hydraulic fracturing and horizontal drilling. In hydraulic fracturing (or fracking), a fluid is pumped under high pressure into the coal oil to open up fractures. Horizontal drilling is carried out at deep levels under the ground. Horizontal drilling reduces the number of visible vertical wells located above the ground. In terms of application, the coal oil market can be divided into lamp & lighting fuel, heating oil, jet engine fuel, chemical lubricant, medical & pharmaceutical, and household applications.

The global coal oil market expanded significantly in 2017. This trend is estimated to continue during the forecast period. In terms of demand, North America is considered a key region of the global coal oil market. Active gas exploration activities, especially by using unconventional methods, are driving the market in the region. Australia is a major country of the coal oil market in Asia Pacific. The coal oil market in the country has expanded rapidly over the last few years. The power generation sector in Australia has witnessed immense growth in the recent past. The market in China is also projected to expand significantly in the next few years. Active gas exploration activities in Eastern Europe are anticipated to propel the coal oil market in the sub-region during the forecast period. Countries in Latin America such as Brazil and Mexico have initiated offshore development activities. This is estimated to boost the coal oil market in the region. Presence of oil reserves coupled with strong presence of oil companies in Middle East & Africa is likely to augment the market in the region during the forecast period.

Key players operating in the global coal oil market include Exxon Mobil Corporation, Chevron Corporation, BP plc, and Koch Industries, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Coal Oil Market

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