The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A rise in the price of crude oil is likely to spur innovation in oil shale manufacturing, propelling the market over the forecast period.

The global oil shale market is expected to grow from $2.58 billion in 2022 to $2.92 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The global oil shale market size is expected to grow to $4.68 billion in 2027 at a CAGR of 12.5%.

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Global Oil Shale Market Segments Include:

• By Product: Shale Gasoline, Shale Diesel, Kerosene, Other Products
• By Technology: In-Situ Technology, Ex-Situ Technology
• By Application: Fuel, Electricity, Cement and Chemicals, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global oil shale market in 2021.

Major Market Players in the oil shale market include AuraSource Inc., BP Plc., Chevron Corporation, ExxonMobil Corporation, Independent Energy Partners Inc., Queensland Energy Resources Limited, Shell Plc., American Shale Oil LLC, Japan Petroleum Exploration Co. Ltd.

Technological advances have emerged as a crucial trend that is gaining traction in the oil shale market. To maintain their market position, major oil shale firms are focusing on the development of innovative technology. For instance, in September 2021, ExxonMobil Corporation, a US-based oil and gas corporation, launched EMRD, a renewable diesel process technology with the purpose of increasing bio-feedstock yields. Renewable diesel can be created using this breakthrough process technology from feedstocks such as animal fats, vegetable oils, and unrefined cooking oil. ExxonMobil’s Bio-Isomerization Dewaxing (BIDWTM) catalyst is utilised in the EMRD process, which is an integrated solution. This provides strong dewaxing in both winter and summer modes for refiners and biofuel producers. The BIDW catalyst outperformed other internally designed zeolite-based replacements in terms of yield.

The Oil Shale Global Market Report 2023  provides a oil shale market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The oil shale market forecast analyzes oil shale market size, oil shale market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Oil shale is a fine-grained sedimentary rock that is high in kerogen and high in organic compounds. It refers to hydrocarbons trapped in shale rock and must be removed through fracking.

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