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Published Date: 2015-06-30Number of Pages: 174

Oil Shale Market (Process - In-situ and Ex-situ; Application - Electricity, Non-upgraded, and Upgraded) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022

Global Oil Shale Market: Snapshot

Increasing industrial growth and population have surged the need for fossil fuels across the world. Oil shale has the potential fulfill the future energy needs of the world. Oil shale is actually a turbid rock that contains kerogen which can produce both electricity and shale oil. Processing oil shale will ensure energy preservation and also generate employment avenues thus contributing towards both economy and society. Oil shale is mainly utilized as a fuel in thermal power plants and making variety of materials such as glass, fertilizers, and carbon black among others.

The global oil shale market stood at a valuation of US$ 1,134.60 million in 2013 and is expected to reach the valuation of US$ 7,400.70 by 2022. This progress is expected to be achieved at a healthy CAGR of 27.34% from 2014 to 2022.

More Research and Development Experiments are underway for In-Situ Extraction Process

Oil shale process segmentation involves two methods that are utilized to derive shale oil from. The methods involved are ex-situ and in-situ retorting. Ex-situ processing of oil shale has been carried out for over hundred years in different countries across the world. The oil shale is first mined and then moved for ex-situ processing. The procedure involves pyrolyzing oil shale to produce shale oil. Presently, most of the oil shale is extracted using the ex-situ processing method. On the other hand, newer technologies are used to extract the useful components of oil shale in the in-situ process. The process of in-situ extraction is still developing with many different companies experimenting with the process and carrying out research and development for its marketing in the forecast period.

The in-situ extraction technology can be further segmented into modified in-situ and true in-situ retorting technology. Modified in-situ extracting technology was first invented by Occidental Petroleum and it involves creation of void by fracturing the oil shale deposits. On the other hand, true in-situ extracting process involves subjecting oil shale rocks to high temperatures after fracturing the rocks. By subjecting these rocks to such high temperatures makes them suitable for pyrolysis which allows the production of the shale oil. Red Leaf Resources is anticipated to progress in the market during the forecast period with the help of its hybrid EcoShale In-Capsule technology.

China Leading the Global Oil Shale Market with Australia following up

In terms of geographical regions, the global oil shale market is divided in five regions such as Asia Pacific, the Middle East & Africa, Europe, South America and North America. 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. Australia is expected to follow China in the production and surge up the overall production of the shale oil in Asia Pacific.

Europe closely follows Asia Pacific with Estonia being the leading expert in converting oil shale to shale oil since early 1920s. But lack of planned projects across Europe in the forecast period is expected to have a negative impact on the market share generated by the region.

Jordan and Morocco are the leaders in the Middle East & Africa region. Both the nations are working hard towards reducing the burden on their economy due to energy import and achieve energy security. This is the primary reason behind initiation of several new projects in the region in the near future.

South America region has Brazil as the only recognized contributor to the oil shale market. Brazil has significant reserves of oil shale and uses its patented Petrosix technology to produce shale oil from it. On the other hand, even though Canada has a good number of reserves of oil shale, only the US is anticipated to derive oil shale commercially before 2022.

Oil shale is used in industries in the form of fuel in thermal power plants and is also used in making specialty carbon fibers, carbon black, adsorbent carbons, glues, resins, road bitumen, phenols, tanning agents, cement, fertilizers, and glass. The increasing global industrialization and the rising population have elevated the demand for fossil fuels, and oil shale is used in order to meet the growing energy demand.

This report is a detailed analysis of the present state of the market for oil shale and presents a basic overview of the overall market with classification, definitions, industry chain structure and applications. An analysis on the development trends, development status of the key regions, and the competitive analysis also form an integral part of this study. For proving an extensive market insight, the market tables in the report have also been categorized in terms of revenue generated by application, technology, product, and geography.  

The analysis for the oil shale market is presented on the basis of revenue in US$ mn and volume in mn barrels. The report also includes a number of market dynamics such as major drivers, restraints, opportunities, challenges, and trends prevalent in the market and these dynamics are evaluated on the basis of their impact on the growth of the market. Porter’s Five Forces evaluation helps in understanding the five prime forces that will affect the profitability and industry structure of the market.

Overview of the Oil Shale Market

Oil shale is a sedimentary rock comprising kerogen and has the potential of fulfilling the future demand for energy. The use of oil shale in generating electricity could ensure energy security and generate various employment opportunities.

In terms of process, the market is segmented into ex-situ and in-situ. Amongst these, in-situ processing is at present under development with a number of companies involved in research and development activities. On the other hand, ex-situ processing is popular and has been prevalent in various parts of the world for more than a century. On the basis of application, the market is segmented into non-upgraded products, electricity, and upgraded products.

The market for oil shale is fuelled by the presence of a number of oil shale reserves having economic benefits. On the other hand, the soaring prices of oil have restrained the oil shale mining activities to a great extent, thus posing a negative impact on the growth of the market. In addition, the hazardous effects posed on the environment with oil shale mining activities may also restrain the market growth in forthcoming years.

On the basis of geography, the market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Amongst these, Asia Pacific leads the market for oil shale and is closely trailed by Europe. On the other hand, within North America, there are various oil shale reserves in the U.S and Canada. However, only the U.S. oil shale market is predicted to commercially produce oil shale by the end of 2022.

Key Players in the Oil Shale Market

The prime players dominant in the market are Eesti Energia AS, Red Leaf Resources Inc., BNK Petroleum Inc., Fushun Mining Group Co., Ltd., Chevron Corporation, Jordan Oil Shale Company B.V., Queensland Energy Resources Ltd, Questerre Energy Corporation, Global Oil Shale Group Limited, ExxonMobil Corporation, and Viru Keemia Grupp.

Major geographies analyzed under this research report are:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report:

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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