In 2024, Canada imported 17.7 million metric tons of crude oil from the United States, which was the largest quantity Canada imported from any country. The U.S. is also Canada's most important trading partner when it comes to exporting its domestically produced crude. Canadian crude oil In 1858, the first oil deposit in North America was found in Ontario, Canada. Today, however, Canada’s largest crude oil production sites are in Alberta. Although Canada is a net exporter of crude oil, Canada also imports crude oil, as the majority of its crude production is heavy, bitumous oil. History of crude oil and its uses The beginning of the developed oil industry can be traced back to 1837 in Baku, Azerbaijan, where the first oil refinery was created. Seven years later, came the first modern oil well. This oil well accounted for more than 90 percent of the world’s oil production. More commercial oil wells were gradually developed in Poland, Romania, Canada, and the United States. The first major oil company was the Standard Oil Company, created by John. D. Rockefeller. Crude oil is refined into petroleum products, which are then used as transportation fuels, to heat homes, and produce other chemical products such as plastics.

This statistic depicts the percent change in the oil production of the world's largest oil producers from 2012 to 2013. During this year, Canada increased oil production by *** percent. Recently, oil prices have decreased and, for example, countries that rely heavily on agriculture can benefit from cheaper oil, as agriculture is one of the most energy-intensive sectors in the world.

CA: Electricity Production From Oil Sources: % of Total data was reported at 0.885 % in 2023. This records an increase from the previous number of 0.824 % for 2022. CA: Electricity Production From Oil Sources: % of Total data is updated yearly, averaging 1.805 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 3.866 % in 2004 and a record low of 0.650 % in 2021. CA: Electricity Production From Oil Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Environmental: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products.;IEA Energy Statistics Data Browser, https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser;Weighted average;Electricity production shares may not sum to 100 percent because other sources of generated electricity (such as geothermal, solar, and wind) are not shown. Restricted use: Please contact the International Energy Agency for third-party use of these data.

Canada is the main source country for petroleum imported into the United States. In 2024, the United States imported around 4.7 million barrels of petroleum per day from its northern neighbor. Oil trading with Canada increased more quickly in the 2010s when strides made in unconventional oil extraction allowed for the large-scale mining of oil sands. By comparison, petroleum trading with Venezuela notably declined since the year 2000. In fact, the U.S. did not purchase any crude oil or oil products from Venezuela between 2020 and 2022. However, in 2024 Venezuelan petroleum imports reached some 232 thousand barrels per day. Crude oil reserves As of 2023, global crude oil reserves were estimated to be around 1.6 trillion barrels. This is the amount of oil that can be extracted in the future under current economic and operating conditions. Most of the proved oil reserves in the world are found in the Middle East, although the share of proved reserves in Central and South America has increased the most since the 1990s. Uses of petroleum Petroleum is a versatile raw material that can be refined into transportation fuels or used as a feedstock within the petrochemical industry. Gasoline is the most commonly produced petroleum product. U.S. refinery production of conventional motor gasoline reached 1.4 million barrels per day in 2021. Most refineries in the U.S. are located on the Gulf Coast close to productive oil basins such as the Permian and ports for shipping.

This statistic shows the share of global energy commodity production that occurs in Canada in 2014, by resource type. In that year, Canada accounted for approximately *** percent of global crude oil production.

The size of the Canada Oil and Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.80% during the forecast period. The Canada oil and gas market is a very important player in the global energy landscape. Characterized by abundant natural resources, an extensive infrastructure, and the fact that it ranks high in the world as a producer of crude oil and natural gas, current reserves are still found primarily in the oil sands of Alberta and the offshore regions of Atlantic Canada. This country benefits all support from a well-developed pipeline network and transport infrastructure, ensuring effective distribution of oil and gas products into various domestic and international markets. The factors driving this market are improvement in technology of extraction and production techniques, increasing global energy demand, and rising importance on energy security. Periodic oil price hikes, environmental concerns over land use and gas emissions, and regulatory barriers are the challenges facing the industry. The government of Canada has put in place several regulations that aimed to promote environmentally friendly practice with fewer adverse effects on the environment for both the oil and gas industries. In the past few years, there has been a strong push towards cleaner forms of energy and investment in renewable energy and carbon capture technology. The oil and gas industry remains an important branch of Canada's economy but always in tension with ongoing debate regarding climate change and sustainability. Production of energy and stewardship of the environment will undoubtedly push the market further as Canada maintains a balance between these two seemingly opposing ideologies Recent developments include: In March 2022, Pembina Pipeline Corp. announced a deal with private equity firm KKR to combine their western Canadian natural gas processing assets into a new joint venture. Pembina will own a 60% stake in the joint venture and serve as the operator and manager. KKR's global infrastructure funds will hold 40%., In November 2021, Woodfibre LNG signed an Engineering, Procurement, Fabrication, and Construction (EPFC) contract with McDermott International. The EPFC contract is an important step in advancing detailed engineering and construction scheduling work in advance of Woodfibre LNG.. Key drivers for this market are: 4., Modernization and Upgrades of Existing Military Aircraft Fleets4.; Increasing Defense Budgets. Potential restraints include: 4., Shift Toward Unmanned Aircraft. Notable trends are: Upstream Sector to be the Fastest Growing Sector.

Unconventional Oil Market Outlook

As per our latest research for 2025, the global unconventional oil market size stands at USD 185.7 billion, reflecting robust growth driven by technological advancements and rising energy demands. The market is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2033. By the end of 2033, the unconventional oil market is projected to reach a value of USD 323.2 billion. This expansion is primarily attributed to the increasing depletion of conventional oil reserves and the subsequent shift toward alternative oil extraction methods, as well as the growing global energy consumption across both developed and emerging economies.

The primary growth factor for the unconventional oil market is the accelerating depletion of conventional oil reserves, compelling major oil and gas companies to explore alternative resources such as shale oil, oil sands, and tight oil. Technological innovations, particularly in extraction techniques such as hydraulic fracturing and horizontal drilling, have made it economically viable to tap into previously inaccessible reserves. This has not only boosted the overall supply of oil but also enhanced energy security for countries with limited access to conventional reserves. Furthermore, government incentives and supportive regulatory frameworks in key regions such as North America have catalyzed investments in unconventional oil projects, fostering a competitive and dynamic market environment.

Another significant driver is the rapid industrialization and urbanization witnessed in emerging markets, especially in Asia Pacific and Latin America. The surging demand for energy in these regions, coupled with ambitious infrastructure development projects, has heightened the need for diverse and reliable energy sources. Unconventional oil resources, with their vast untapped potential, are increasingly being integrated into national energy strategies. This trend is further reinforced by the volatility of crude oil prices, which has prompted countries to diversify their energy portfolios and reduce dependency on imported oil, thereby stimulating the development of indigenous unconventional oil resources.

Environmental concerns and advancements in extraction technology are also shaping the unconventional oil market. While unconventional oil extraction has historically faced criticism due to environmental risks, recent innovations have significantly reduced the ecological footprint of extraction processes. Enhanced oil recovery techniques, improved water management, and the adoption of digital monitoring systems have mitigated the adverse impacts of unconventional oil production. These advancements are attracting investments from environmentally conscious stakeholders and enabling companies to comply with stringent environmental regulations, further supporting market growth.

From a regional perspective, North America continues to dominate the unconventional oil market, accounting for over 43% of the global market share in 2025. The region’s leadership is underpinned by the extensive development of shale oil and tight oil resources in the United States and Canada, supported by a mature infrastructure and favorable policy landscape. Meanwhile, Asia Pacific is emerging as a high-growth region, with countries like China and India ramping up investments in unconventional oil exploration and production to meet their growing energy needs. Europe, Latin America, and the Middle East & Africa are also witnessing steady progress, albeit at a slower pace due to regulatory, technological, and environmental challenges.

Resource Type Analysis

The resource type segment of the unconventional oil market is characterized by a diverse range of resources, including shale oil, oil sands, tight oil, coal-to-liquids, gas-to-liquids, and others. Shale oil has emerged as the most prominent resource type, primarily driven by the shale revolution in North America. The abundance of shale formations, coupled with advancements in hydraulic fracturing and horizontal drilling, has unlocked substantial reserves, making shale oil a cornerstone of the unconventional oil industry. Oil sands, predominantly found in Canada and Venezuela, represent another significant segment, with large-scale projects contributing notably to the global supply. Tight oil, extracted from low-permeability reservoirs, is gaining traction due to its potential to supplement declining conventional oil field

The global oilfield services market, valued at $119.36 billion in 2025, is projected to experience robust growth, driven by increasing global energy demand and ongoing exploration and production activities. A compound annual growth rate (CAGR) of 5.83% from 2025 to 2033 indicates a significant expansion, reaching an estimated $190 billion by 2033. This growth is fueled by several key factors. Firstly, the ongoing investments in upstream oil and gas projects, particularly in regions with substantial reserves like the Middle East and North America, will significantly contribute to the market's expansion. Secondly, technological advancements in drilling, completion, and production optimization techniques are enhancing efficiency and reducing operational costs, making oil and gas extraction more economically viable and driving demand for sophisticated oilfield services. Furthermore, the growing emphasis on enhancing oil recovery rates from mature fields is expected to boost demand for specialized intervention services. However, the market's growth trajectory isn't without challenges. Fluctuations in oil prices remain a major restraint, impacting investment decisions in exploration and production. Additionally, stringent environmental regulations and growing concerns regarding carbon emissions are creating a need for sustainable practices, pushing the industry towards adopting greener technologies and increasing operational costs in the short term. The segmentation of the market into service types (drilling, completion, production, and intervention) and deployment locations (onshore and offshore) provides further insights into specific growth opportunities and challenges within each segment. The competitive landscape is dominated by major players such as Schlumberger, Halliburton, Baker Hughes, and Weatherford, alongside regional players and specialized service providers. These companies are actively engaged in mergers, acquisitions, and strategic partnerships to expand their service portfolios and geographical reach. The North American market currently holds a significant share due to extensive oil and gas activities in the United States and Canada. However, significant growth potential exists in the Asia-Pacific and Middle East & Africa regions driven by substantial ongoing exploration and infrastructure development. The ongoing shift towards automation and digitalization within oilfield operations is creating opportunities for companies offering advanced technologies and data-driven solutions, further shaping the future of the oilfield services landscape. The market's future hinges on a delicate balance between meeting global energy needs and mitigating environmental concerns, influencing both technological advancements and regulatory landscapes within the industry. Recent developments include: September 2023: SLB signed a subsurface technology agreement with INEOS Energy, the energy division of INEOS, a global chemical and manufacturing company. INEOS Energy will partner with SLB’s Performance Centre in Aberdeen to collaborate and innovate subsurface technologies, including AI capabilities, to help it drive operational performance for continued growth, new acquisitions, and carbon capture and storage (CCS)., April 2023: QatarEnergy, formerly Qatar Petroleum, a state-owned petroleum company of Qatar, agreed with Shell PLC to acquire a 40% working interest in the C-10 block located offshore Mauritania. Shell PLC and QatarEnergy have decided to explore the C-10 block, which is approximately 50 kilometers off the coast of Mauritania, Africa.. Key drivers for this market are: 4., Increasing Development of Gas Reserves and Advanced Technology, Tools, and Equipment4.; Increasing Investment in the Oilfield Services across World. Potential restraints include: 4., Increasing Development of Gas Reserves and Advanced Technology, Tools, and Equipment4.; Increasing Investment in the Oilfield Services across World. Notable trends are: Drilling Services Are Expected to Dominate the Market.

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Canola Oil Market Size 2025-2029

The canola oil market size is forecast to increase by USD 6.91 billion, at a CAGR of 3.3% between 2024 and 2029.

The market is driven by the increasing awareness of the health benefits associated with this versatile oil. Rich in monounsaturated and polyunsaturated fats, canola oil is a preferred choice for health-conscious consumers, leading to its growing demand in the food industry. Furthermore, the utilization of canola oil extends beyond the culinary sphere, with its application in plasticizers and adhesives industries. However, the market faces challenges from the rising popularity of substitute oils, such as olive oil and coconut oil, which are also promoted for their health benefits.
Companies in the market must navigate this competitive landscape by focusing on product innovation, cost competitiveness, and effective marketing strategies to maintain their market share. Additionally, ensuring sustainable sourcing and production practices can help bolster brand reputation and consumer trust, providing a strategic advantage in the market.

What will be the Size of the Canola Oil Market during the forecast period?

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The market continues to evolve, shaped by dynamic market dynamics and various applications across multiple sectors. Canola oil production is a significant contributor to the market, with ongoing efforts in crop breeding and yield optimization driving growth. Simultaneously, biodiesel production from canola oil is gaining traction as a renewable energy source, adding to the market's complexity. The food service industry and retail distribution sectors are major consumers of canola oil, with competition from various edible oils and changing consumer preferences influencing market trends. The competition landscape is diverse, with players focusing on product differentiation through omega-3 fatty acid content, non-GMO and organic offerings, and sustainable agriculture practices.

Oilseed byproducts, such as canola meal, have additional value in animal feed and fertilizer industries, further impacting market dynamics. New technologies, including improved crushing technology and refining methods, are shaping the market, while sustainability concerns and environmental impact assessments influence pricing trends. The fatty acid profile and health benefits of canola oil, including heart health and disease resistance, continue to drive demand. Culinary applications, from salad dressings to frying oil, expand the market's reach. Sustainable agriculture practices, pest control methods, and packaging formats are essential considerations for market players, ensuring a continuous focus on innovation and adaptation. The global production of canola oil is subject to market volatility and supply chain management challenges, with regional production patterns and transportation logistics influencing pricing and availability.

As consumer dietary habits shift, market dynamics will continue to evolve, requiring agility and strategic planning from industry participants.

How is this Canola Oil Industry segmented?

The canola oil industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Conventional
  Organic


Application

  Cooking
  Industrial


Product Type

  Processed
  Virgin
  Cold-pressed
  Extracted


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The conventional segment is estimated to witness significant growth during the forecast period.

Canola oil, derived from genetically modified rapeseed, undergoes solvent extraction using hexane for oil separation. This process contrasts with pressing techniques used for other oils. The extracted oil then undergoes refining, bleaching, and deodorization (RBD) for commercial production. The affordability and widespread availability of conventional canola oil contribute to its popularity among consumers, despite its inability to be certified organic. Crop breeding and yield optimization have significantly increased canola oil production, making it a leading vegetable oil in the global market. The oil's health benefits, including heart health, disease resistance, and a favorable fatty acid profile, contribute to its widespread use in various industries.

Food service, retail distribution, and the production of biodiesel are significant sectors for canola oil consumption. Environmental concerns, such as carbon footprint and land use, have led to the development of new te

Global rapeseed oil market: In 2015, the countries with the highest levels of production in 2015 were China, Germany, Canada, together accounting for 47% of total output.

The size of the Canadian Oil Refineries Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.10">> 1.10% during the forecast period. Recent developments include: May 2022: Inter Pipeline Ltd announced that it is partnering with ITOCHU Corporation and PETRONAS Energy Canada Ltd to evaluate the development of world-scale integrated blue ammonia and blue methanol production facilities., Nov 2021: Northern Petrochemical Corporation announced plans to construct a USD 2.5 billion carbon-neutral ammonia and methanol production facility in Alberta's Grand Prairie region. This facility will be located within the Greenview Industrial Gateway.. Key drivers for this market are: 4., Increasing Investments in Renewable Energy Generation 4.; Supportive Government Policies Towards Green Energy. Potential restraints include: 4., Challenges In Installing Renewable Power in the Circulated Structure. Notable trends are: Canada’s Refining Sector is Expected to Dominate the Market.

According to cognitive market research – the Canola Oil Market size in 2023 was XX Million. Canola Oil Market compound annual growth rate (CAGR) was XX% from 2024 to 2031

  Based on application, the market is divided into food processing, foodservice, households, and others. In 2023, the food processing industry commanded the largest share of the market thanks to its biggest revenue generation food processing held the largest share, accounting for XX% share of the global revenue in 2023
  Based on nature, the market is segmented into organic and conventional. With the largest share, the conventional segment is leading the global market.
  Asia Pacific is a major producer and consumer of canola oil; in 2022, the market was estimated to be worth USD XX billion
  North America is also witnessing substantial growth in this market, which is expected to proliferate in the near term

Market Dynamics of the global canola oil

Key drivers of the canola oil market

A Heavy focus on canola oil production will aid in increasing profit: One of the most popular and readily available substitutes for harmful oils is canola oil, which has been produced extensively for almost 3,000 years in India and since the 13th century in Europe. Diet-conscious consumers have made it more and more popular to use these kinds of oils in a wide range of culinary preparations Because canola oil has less saturated fat and more omega-3 and omega-6 fatty acids, which combine to make healthy cooking oils, it is better for intake over time. Consequently, this is increasing demand in the market. Canola oil contains antioxidants like vitamin E that slow the growth and spread of cancer cells, helping to prevent the disease. It helps to maintain a regular pace of metabolism and raises the body's energy levels by lowering cholesterol. In Canada, almost 20 million acres of cropland are harvested annually, mostly in the western provinces of Ontario, Quebec, Alberta, and other areas, to produce canola oil. Furthermore, a surge in the market's expansion is anticipated because of the growing need for high-nutritional fats, which encourages production. Source-(https://www.canolacouncil.org/about-canola/industry/#:~:text=Canola%20production&text=Every%20year%2C%20approximately%2020%20million,British%20Columbia%2C%20Ontario%20and%20Quebec.)

The Fraunhofer Center for Chemical-Biotechnological Processes (CBP), located in Germany, opened a prototype facility in May 2023 intending to manufacture rapeseed oil. High-grade canola oil and other byproducts like kernels and rapeseed hulls would be produced by the plant. Source-https://www.igb.fraunhofer.de/en/press-media/press-releases.html

Well-being and health awareness influencing consumer demand: One of the most popular and third most popular cooking oils in the world is canola oil. It is well known for having a high level of unsaturated fatty acids, especially polyunsaturated fatty acids, which contributes significantly to its nutritional value. Furthermore, an increasing body of research indicates that eating a diet high in unsaturated fatty acids has several positive health effects. In addition to these unsaturated fats, rapeseed oil contains nine other functional ingredients that have been shown to have various health benefits, including vitamin E, flavonoids, phospholipids, sterols, and others. Therefore, to increase canola oil's market growth, several restaurateurs are also attempting to incorporate it into their cooking methods. One of the main drivers of the market expansion is the general public's growing awareness of health and wellbeing. Furthermore, the growing inclinations of people towards food items that correspond with their nutritional objectives. Because of its well-known low saturated fat level, canola oil is a heart-healthy choice. It has a significant amount of omega-3 fatty acids as well as other mono- and polyunsaturated fats. Furthermore, canola oil's neutral flavor and high smoking point make it a versatile ingredient in the kitchen. It can be used to cook food in a variety of ways, such as baking, sautéing, and frying, without destroying or adding undesirable flavors. Merely 7% of canola oil is made up of saturated fatty acids, which is around half that of soybean, corn, and olive oils and one-quarter that of cotton...

Canadian oil prices are influenced by factors such as global oil demand and supply, transportation costs, exchange rates, government policies, and environmental regulations. The difference in quality and transportation costs compared to benchmark oils, the exchange rate between CAD and USD, government policies and regulations, and global factors all play a role in determining Canadian oil prices.

The global oil well metal drill bits market, valued at $559 million in 2025, is projected to experience steady growth, driven by increasing oil and gas exploration and production activities worldwide. The Compound Annual Growth Rate (CAGR) of 3.6% from 2025 to 2033 indicates a consistent demand for these essential drilling components. Key market drivers include the rising global energy demand, necessitating increased drilling operations, and technological advancements in drill bit design leading to enhanced efficiency and longevity. The market segmentation reveals a significant demand for both fixed cutter and roller cone drill bits across land and maritime applications. While the specific breakdown of market share between these segments is unavailable, industry trends suggest that fixed cutter drill bits are gaining traction due to their versatility and adaptability to varying geological formations. Geographical analysis reveals strong market presence in North America, driven by robust oil and gas production in the US and Canada, followed by substantial contributions from the Asia-Pacific region, particularly China and India, due to their rapidly expanding energy sectors. Potential restraints include fluctuating oil prices, which can impact investment in exploration and production, and the increasing adoption of alternative energy sources. However, the long-term outlook for oil well metal drill bits remains positive, underpinned by the continued reliance on fossil fuels and the ongoing need for efficient drilling technologies. The competitive landscape is characterized by major players like Schlumberger, Halliburton, and Baker Hughes, along with several regional manufacturers, highlighting a mix of established industry giants and emerging competitors. The continued growth trajectory is likely influenced by several factors. Firstly, ongoing investments in deepwater and unconventional drilling projects are increasing the demand for durable and efficient drill bits. Secondly, the exploration of new oil and gas reserves in previously untapped regions will fuel further market expansion. Moreover, technological innovations, such as the development of polycrystalline diamond compact (PDC) bits and advancements in bit design optimization, contribute to improved drilling performance and reduced operational costs. This, in turn, reinforces market growth. Despite challenges such as environmental concerns surrounding fossil fuel extraction and governmental regulations, the continuous demand for oil and gas is expected to offset these restraints in the medium to long term, supporting the market's sustained growth. The focus on cost-effective and environmentally friendly drilling solutions will, however, shape future market developments.

The size of the Canola Oil Market was valued at USD 27.78 Billion in 2023 and is projected to reach USD 37.80 Billion by 2032, with an expected CAGR of 4.5% during the forecast period. Recent developments include: March 2023: A commercial partnership between Corteva Inc. and Chevron U.S.A. Inc., a division of Chevron Corporation, aims to create specialized winter canola hybrids that yield plant-based oil with a lower carbon profile. The objective is to boost the supply of vegetable oil feedstocks, mainly for the expanding domestic market for renewable fuels. To provide farmers with a sustainable crop rotation and a new source of income, the firms intend to introduce the winter canola crop to the southern United States., August 2021: Control Chemical Corp., a producer of environmentally safe drilling fluids and lubricants based on vegetable oils, will be acquired by Richardson International Ltd., a large canola oil producer based in Winnipeg, Canada. Control Chemical Corp. receives crude canola oil from Richardson International Ltd.; this acquisition will open doors and assist Control Chemical Corp. in expanding its market reach for downhole and torque-reducing lubricants that are safe for the environment.. Key drivers for this market are: Increasing demand for clean label products 24, Strong growth of bakery & confectionaery products 24; Improvement of Product Appeal 25; Increasing demand for organic food & beverages 25. Potential restraints include: High cost of natural food color ingredients 26, Synthetic color, an economical solution 27. Notable trends are: Growing number of disease is driving the market growth.

Canada Bunker Fuel Market Overview The Canadian bunker fuel market is projected to grow at a CAGR of 2.93% during the forecast period (2023-2030), reaching a value of USD 1.42 billion by 2030. Key drivers driving the growth include increasing maritime trade, rising demand for low-sulfur fuels, and government regulations promoting cleaner fuels. The growth of the shipping industry in Canada, particularly in the container and bulk carrier segments, has led to an increased demand for bunker fuel. Additionally, environmental concerns and regulations aimed at reducing sulfur emissions have spurred the adoption of cleaner fuels such as very-low sulfur fuel oil (VLSFO) and liquefied natural gas (LNG). The market is dominated by fuel suppliers such as PetroChina Company Limited, TotalEnergies SE, Peninsula Petroleum Ltd, and World Fuel Services Corporation. These companies provide a range of bunker fuels and services to ship owners, including Cosco Shipping Lines Co Ltd, Orient Overseas Container Line (OOCL), and CMA CGM Group. The report also provides an in-depth analysis of the market's segments, including fuel types and vessel types. It offers insights into the competitive landscape, market dynamics, and key trends shaping the industry. Recent developments include: May 2024: CSL Group, a Canadian company, announced that its gearless bulk carrier, CSL Welland, will once again operate on B100 biodiesel for the upcoming season, signaling the revival of its biofuel initiative. In collaboration with Canada Clean Fuels Inc., the company is fueling eight of its vessels with B100 biodiesel sourced from North America and produced from waste plant materials.February 2024: Cryopeak LNG Solutions signed an agreement to merge operations with Ferus Natural Gas Fuels to develop a new liquefied natural gas (LNG) production and distribution organization across Canada. The company also manages three LNG production facilities through this expansion in Western Canada and operates the country's most significant LNG transportation.. Key drivers for this market are: 4., Rising LNG Trade4.; Surge in Marine Transportation. Potential restraints include: 4., Rising LNG Trade4.; Surge in Marine Transportation. Notable trends are: The Very Low Sulphur Fuel Oil (VLSFO) Segment is to Witness Significant Growth During the Forecast Period.

The global oilfield production chemical additives market is experiencing robust growth, driven by increasing oil and gas exploration and production activities worldwide. The market, estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033, reaching an estimated value of $22 billion by 2033. This growth is fueled by several key factors, including the rising demand for enhanced oil recovery (EOR) techniques, stricter environmental regulations necessitating the use of environmentally friendly additives, and the ongoing development of technologically advanced additives that improve drilling efficiency and reduce operational costs. The market is segmented by type (e.g., drilling fluids, completion fluids, stimulation fluids, production chemicals) and application (e.g., onshore, offshore). Major players such as TotalEnergies, Solvay, BASF, and Schlumberger are actively investing in research and development to enhance product offerings and expand their market share. The North American region currently holds a significant market share, driven by extensive oil and gas operations in the US and Canada. However, Asia-Pacific is expected to witness the fastest growth in the forecast period due to increasing exploration activities and infrastructure development in regions like China and India. Despite the positive growth outlook, the market faces certain challenges. Fluctuations in crude oil prices can impact investment decisions in the oil and gas sector, potentially affecting demand for additives. Furthermore, the increasing focus on sustainable practices and the need for environmentally benign additives present both opportunities and challenges for manufacturers. Companies must adapt to evolving regulations and consumer preferences by investing in research and development of eco-friendly alternatives. Nevertheless, the long-term outlook for the oilfield production chemical additives market remains promising, underpinned by the continued reliance on fossil fuels and the increasing adoption of advanced technologies to optimize extraction processes and minimize environmental impact. The competitive landscape is characterized by both large multinational corporations and specialized chemical manufacturers, creating a dynamic and innovative environment.

Canada SEPH: Job Vacancy Rate: Mining, Quarrying, Oil & Gas Extraction data was reported at 1.400 % in Aug 2019. This records a decrease from the previous number of 2.100 % for Jul 2019. Canada SEPH: Job Vacancy Rate: Mining, Quarrying, Oil & Gas Extraction data is updated monthly, averaging 1.500 % from Mar 2011 (Median) to Aug 2019, with 93 observations. The data reached an all-time high of 4.400 % in Jun 2012 and a record low of 0.700 % in Oct 2016. Canada SEPH: Job Vacancy Rate: Mining, Quarrying, Oil & Gas Extraction data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.G026: Job Vacancy and Wage Survey: Job Vacancies: NAICS 2017. Replacement series ID: 446801147

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Camelina Oil Market Size 2024-2028

The camelina oil market size is valued to increase by USD 247.2 million, at a CAGR of 6.14% from 2023 to 2028. Rising awareness on health benefits of camelina oil will drive the camelina oil market.

Major Market Trends & Insights

North America dominated the market and accounted for a 44% growth during the forecast period.
By Application - Biofuels segment was valued at USD 300.80 million in 2022
By Distribution Channel - B2B segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 52.31 million
Market Future Opportunities: USD 247.20 million
CAGR from 2023 to 2028 : 6.14%

Market Summary

Camelina oil, derived from the seeds of the Camelina sativa plant, has gained significant attention in recent years due to its numerous health benefits and potential uses in various industries. The oil is rich in omega-3 fatty acids, making it an attractive alternative to fish oil for nutritional supplements. Moreover, the increasing demand for sustainable and renewable sources of energy has fueled the interest in camelina oil as a biofuel feedstock. Despite the promising prospects, the market faces challenges, primarily due to the presence of popular alternative products such as soybean and Canola Oil. However, recent advancements in technology have enabled the production of camelina oil at a competitive cost, making it an attractive option for businesses seeking to optimize their supply chains.
For instance, a leading food processing company was able to reduce its dependence on traditional oil sources by 25% through the integration of camelina oil into its product line. Additionally, the regulatory landscape for biofuels is evolving, with governments worldwide implementing policies to promote the use of renewable energy sources. This trend is expected to drive the demand for camelina oil as a biofuel feedstock, providing opportunities for growth in the market. One notable achievement in the camelina oil industry is the reduction of production costs by 30% through the implementation of advanced extraction techniques.
This cost savings has made camelina oil a more viable alternative to traditional oil sources, leading to increased adoption in various industries. Overall, the market is poised for growth, driven by rising health awareness, increasing demand for sustainable energy sources, and advancements in production technology.

What will be the Size of the Camelina Oil Market during the forecast period?

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How is the Camelina Oil Market Segmented ?

The camelina oil industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Biofuels
  Cosmetics
  Food


Distribution Channel

  B2B
  B2C (Retail, Online)


Form

  Refined Camelina Oil
  Crude Camelina Oil


Source

  Conventional
  Organic


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Application Insights

The biofuels segment is estimated to witness significant growth during the forecast period.

In the realm of sustainable agriculture and biofuel production, the market has gained significant traction. With increasing focus on agricultural sustainability and environmental impact assessments, camelina oil, derived from Camelina sativa, has emerged as an attractive alternative. This oilseed offers various advantages, including effective pest management practices, crop yield optimization through crop rotation strategies, and weed control methods. The Oil Refining techniques preserve linolenic acid levels and maintain low erucic acid content, ensuring quality control parameters. Cold-pressed oil extraction ensures the retention of omega-3 fatty acids, enhancing its nutritional value. Camelina meal utilization in animal feed and industrial applications further adds to its economic viability.

The industry is continually innovating, with advancements in oilseed extraction methods, seed protein extraction, and biodiesel production processes. Water usage efficiency and land use efficiency are key focus areas, contributing to the overall sustainability of camelina cultivation. The market's growth is further fueled by the increasing demand for sustainable biofuels and Cosmetic Ingredients, making camelina oil a promising player in the industry. Approximately 40% of camelina oil is used in the production of biodiesel, underscoring its potential as a biofuel feedstock.

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On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.