TechSci Research has predicted significant growth in the global tar sands market during the forecast period of 2023-2027 in their report "Tar Sands Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027." Tar sands, also known as oil sands, are a mixture of sand, clay, water, and bitumen - a heavier type of oil. They are primarily concentrated in North America, but they have a significant influence on the global oil market. Although there are approximately 2 trillion barrels of oil reserves worldwide, some of these resources are not recoverable due to technical or economic reasons. Countries with the largest tar sand deposits include Venezuela, Canada, and many Middle Eastern nations. With the depletion of conventional oil reserves, the market is looking towards alternate reserves and technologies to meet the growing energy demands of the global population and rapid industrialization in emerging economies. However, the extraction process causes significant environmental damage and pollution, which could hinder market growth. The global tar sands market is segmented based on component, extraction method, technology, regional distribution, and competitive landscape.

The market is divided into four components: clay, sand, water, and bitumen, with the bitumen segment expected to dominate the market share during the forecast period. Techniques used to extract bitumen include chemical treatment and heating. The mining and in-situ extraction methods are used to extract tar sands, with mining being the most preferred due to its economical nature. The market is divided into two technological categories: cyclic steam stimulation and steam-assisted gravity drainage, with both processes using steam to extract oil.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Tar Sands Market"- https://www.techsciresearch.com/report/tar-sands-market/12927.html

Major operating companies operating in global tar sands market are:

Suncor Energy, Inc.
Royal Dutch Shell plc
Exxon Mobil Corporation
Petróleos de Venezuela, S.A. (PDVSA)
Eni S.p.A.

Canadian Oil Sands Limited
Alberta Oil Sands Inc.

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“North America holds a dominant market share in the global tar sands market and is expected to maintain its dominance over the forecast period, 2023-2027. The Alberta oil sands in Canada are one of the largest sand reservoirs in the world and produce large amounts of oil, which significantly influences fulfilling global oil requirements. Early adoption of advanced technologies and the high-end investments by the market players in research and development activities to find innovative solutions and improve the extraction and oil production process is expected to propel the global tar sands market growth over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Tar Sands Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Component (Clay, Sand, Water and Bitumen), By Extraction Method (Mining, In-Situ), By Technology (Cyclic Steam Stimulation, Steam Assisted Gravity Drainage), and By Region”, has evaluated the future growth potential of global tar sands and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global tar sands market.

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Tar Sands Market Forecast 2021-2027: Trends and Competition