New York, NY -- (SBWIRE) -- 01/26/2021 -- Oil shale is an organic-rich rock, which contains a solid mixture of organic chemical compounds called kerogen. Liquid hydrocarbons obtained from these organic compounds, like shale oil, are produced. Shale Oil is a substitute for crude oil and is extensively preferred due to its low cost of extraction.
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Leading Players Profiled in the Report Include:
Anadarko, Occidental Petroleum, Chesapeake Energy, ExxonMobil, Marathon Oil, Chevron Corporation, EOG Resources, Pioneer Natural Resources, SM Energy, ConocoPhillips, Cabot Oil & Gas
Market Drivers
Several industries utilize oil shale as a fuel for thermal power-plants to drive steam turbines. Oil shale aids in the production of specialty carbon black, adsorbent carbons, carbon fibers, phenols, tanning agents, resins, road bitumen, and soil-additives. The increasing use of oil shale across industries has been fuelling the oil shale market. The oil shale market is boosted by the increasing demand for energy across the globe. As the demand for energy prevails, the oil & energy industry will keep focusing on alternative ways to produce energy. One such alternative way is oil shale. Additionally, the depletion of crude oil has fuelled the growth of oil shale. The development of extraction techniques of kerogen from oil shale combined with development in drilling techniques would unveil opportunities for market growth.
Regional Outlook
The U.S. oil shale market is expected to see robust growth over the forecast period due to a large reserve of oil shale in this region. As the cost of extraction of oil shale is projected to reduce due to development in technology, the U.S. is expected to emerge as a leading producer of shale oil. The United States, in 2019, was the largest producer of shale oil globally. Energy requirements of the U.S. are increasing, and new environmental reforms are restricting the use of coal as an energy source. This has raised energy dependency on petroleum and natural gas.
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Segments covered in the report
Market has been divided by Product as:
<6%
6%-10%
>10%
Market has been divided by Application as:
Electricity
Shale Oil
Other
Market segment by Region/Country include:
United States
Europe
China
Japan
Southeast Asia
India
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Key Points of the Report:
Market Overview: This section of the report offers actionable insights into the global Shale Oil market, encompassing the historical and future timelines, key dynamics, latest market trends, growth trajectories, and the future market scope. It highlights the principal market segments, including the main product types, application gamut, end-user industries, and regional spectrum.
Executive Summary: In this section of the report, a comprehensive assessment of the competitive landscape of the market, regional mapping, CAGR, and various crucial parameters like key market drivers, restraints, trends, challenges, and growth prospects.
COVID-19 Impact Analysis: The report closely analyzes the impact of the COVID-19 pandemic on numerous aspects of the Shale Oil industry, such as production capacity, consumption rate, import-export status, demand & supply ratio, and the estimated revenue generation of each regional segment.
Competitive Landscape: This segment of the report systematically profiles the leading companies functioning in the Shale Oil industry. Moreover, the report emphasizes the global market value & volume, product portfolios, production capacity, and other vital aspects of these companies.
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