Refined Petroleum Products Market- Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Type, Fraction, Application, and Region

Refined Petroleum Products Market was valued at US$ 611.95 Bn. in 2021. Global Refined Petroleum Products Market size is expected to grow at a CAGR of 5.1 % through the forecast period.

Refined Petroleum Products Market Overview:

Refined petroleum products are made from crude petroleum. All refined petroleum products are sold, including gasoline, naphtha, diesel fuel, & liquefied petroleum gas. Gasoline is a liquid engine fuel made from crude oil & other liquids that is used in automobiles. Refined petroleum products have two uses: fuel & chemicals. Carbon capture & storage technology is increasingly being used by refineries to minimize CO2 emissions in the atmosphere. Quest, a joint venture between Shell, Canada Energy, and Chevron, is one project that harvests CO2 & stores it underground. Refined Petroleum Products Market To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis especially with the impact of lockdown by region.

Refined Petroleum Product Market Dynamics:

Covid-19 effect: The COVID-19 outbreak had a substantial impact on the global oil & gas industry, causing a storage shortage. The oil & gas industry's supply chain disruption has harmed the most countries with a big share of global crude oil extraction & production, as well as exporters. Large oil and gas private producers have been forced to reorganise their operations and adjust their year-to-date spending as a result of this circumstance. There was a substantial decline in planned investment during the pandemic, resulting in market growth that was postponed. To address the pandemic threat, countries all over the world are imposing severe containment measures, such as physical or social distancing, which have previously resulted in restrictive practises. Driving Factors: Automative PLG is also known as autogas.Autogas is the most widely used non-blend alternative to conventional oil-based transport fuels such as gasoline & diesel in terms of fleet size. The autogas market is well developed in several countries. Autogas consumption has continuously climbed over the last two decades, reaching a new high of 27.2 Mn tonnes in 2019, up 1% from the last year. Diesel, gasoline, kerosene, & other products made from refined oil are only a few examples. The automated sector has grown significantly, and marine duties have become more complex. With the increase in air traffic, the aviation industry has advanced, and LPG utilized as a petrochemical feedstock in the chemical industry has progressed with the launch of new products. Restraining Factors: The growing use of renewable energy sources is a major element influencing the market growth. As a result, certain industrial sectors that use petroleum products and are considered significant contributors to global warming have closed. Emissions of carbon-based gases and the development of hazardous waste from oil refining and treatment plants have restricted market expansion. To address this, a small number of countries are focusing on reducing CO2 emissions through carbon capture and capacity strategies.

Refined Petroleum Market Products Segment Analysis:

Based on Type, the Refined Petroleum Product Market is segmented into gasoline, kerosene, gas oil, & others. Because of its cheaper price & the growing worldwide fleet of passenger vehicles, gasoline accounted for a significant market share in the year 2020. According to the International Council on Motor Vehicles, the worldwide passenger car fleet would rise from 39.8 Mn in 1999 to 55.8 Mn in the year 2020, representing a 40.2 % increase in manufacturing. As a result, global gasoline demand has increased dramatically, which is likely to fuel the growth of the oil refining industry.Refined Petroleum Products MarketBased on the Application, the Refined Petroleum product Market is segmented into fuel, chemical, and others. Fuel is expected to leading application in the automobile and industrial sectors. Again fuel is classified as automobile and power generation segment. Another hand these refined petroleum products are used to produce fertilizers, plastic, synthetic rubber, and drugs. Chemicals are chosen based on the type of activity & the length of time spent in the oilfield. Oilfield chemicals are utilized in a variety of stages, including drilling, cementing, & well stimulation, and may end up as residues in crude oil. During the production phase, when scales, wax hydrates, & asphaltenes can form, the outflow of crude oil from the well must be monitored. During the extraction of oil, it is separated from gas & water. The chemicals employed in the post-production phase serve to prevent the formation of hydrogen sulphide, bacteria, scale, wax deposition, hydrate formation, and asphalting precipitation. These compounds keep petroleum stable throughout transportation to the refinery, where it will be converted into petroleum products.

Refined Petroleum Product Market Regional Overview:

The APAC region dominated the market with 30 % share in the year 2020. The APAC region is expected to witness significant growth at a CAGR of 6.9% through the forecast period. As demand in the APAC has grown, refineries in the area have raised production rates. In November 2021, Indian Oil Corp., the country's largest refiner, ran its nine refineries at nearly full capacity in October. In September, the average run rate for its refineries was around 82 %, down from 83 % a year earlier. The European market will grow due to production capacity expansion by several major players. Several European countries rely on imported oil to meet their energy requirements. The refinery will be expanded in response to rising energy demand. Due to expanding production capacity from major players & increasing reliance on oil imports, Europe will provide a large market share. Increased efforts by major firms to expand organically & inorganically will expand the market's presence. The North American region has created a huge potential for refined crude oil product production due to the recent spike in oil product exports. Furthermore, merger activity in the region improves the prospects for the region. For example, in August 2021, Holly Energy Partners LP & Holly Frontier Corp. signed formal agreements to buy Sinclair Transportation Co. and Sinclair Oil Corp. for $1.8 Bn in a deal valued at $758 Mn. The objective of the report is to present a comprehensive analysis of the global Refined Petroleum Product Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Refined Petroleum Product Market dynamic, structure by analyzing the market segments and projecting the Refined Petroleum Product Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Refined Petroleum Product Market make the report investor’s guide.

Refined Petroleum Product Market Scope: Inquiry Before Buying

Refined Petroleum Product Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US$ 611.85 Bn.
Forecast Period 2022 to 2027 CAGR: 5.1% Market Size in 2027: US$ 866.83 Bn.
Segments Covered: by Type • Diesel • Gasoline • Kerosene • Other
by Fraction • Light Distillate • Middle Distillate • Heavy Oils
by Application • Fuel • Chemical • Other

Refined Petroleum Product Market by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Refined Petroleum Product Market Key Players

Royal Dutch Shell • BP plc • Exxon Mobil • PJSC Lukoil • Chevron • Total SA • Marathon Petroleum Corporation • Valero Energy Corp • Saudi Aramco • Bharat Petroleum Corp Ltd • Vitol Group • Monjasa Holding AS • Fuelsupply • Oryx Energies Frequently Asked Questions: 1] What segments are covered in the Global Refined Petroleum Product Market report? Ans. The segments covered in the Refined Petroleum Product Market report are based on Product Type, Fraction, and application. 2] Which region is expected to hold the highest share in the Global Refined Petroleum Product Market? Ans. The Asia Pacific region is expected to hold the highest share in the Refined Petroleum Product Market. 3] What is the market size of the Global Refined Petroleum Product Market by 2027? Ans. The market size of the Refined Petroleum Product Market by 2027 is expected to reach US$ 866.83 Bn. 4] What is the forecast period for the Global Refined Petroleum Product Market? Ans. The forecast period for the Refined Petroleum Product Market is 2020-2027. 5] What was the market size of the Global Refined Petroleum Product Market in 2020? Ans. The market size of the Refined Petroleum Product Market in 2020 was valued at US$ 586.27 Bn.
1. Global Refined Petroleum Product Market Size: Research Methodology 2. Global Refined Petroleum Product Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Refined Petroleum Product Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Refined Petroleum Product Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Refined Petroleum Product Market Size Segmentation 4.1. Global Refined Petroleum Product Market Size, by Type (2021-2027) • Diesel • Gasoline • Kerosene • Other 4.2. Global Refined Petroleum Product Market Size, by Fraction(2021-2027) • Light Distillate • Middle Distillate • Heavy Oils 4.3. Global Refined Petroleum Product Market Size, by Application (2021-2027) • Fuel • Chemical • Other 5. North America Refined Petroleum Product Market (2021-2027) 5.1. North America Refined Petroleum Product Market Size, by Type (2021-2027) • Diesel • Gasoline • Kerosene • Other 5.2. North America Refined Petroleum Product Market Size, by Fraction(2021-2027) • Light Distillate • Middle Distillate • Heavy Oils 5.3. North America Refined Petroleum Product Market Size, by Application (2021-2027) • Fuel • Chemical • Other 5.4. North America Semiconductor Memory Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Refined Petroleum Product Market (2021-2027) 6.1. European Refined Petroleum Product Market, by Type (2021-2027) 6.2. European Refined Petroleum Product Market, by Fraction(2021-2027) 6.3. European Refined Petroleum Product Market, by Application (2021-2027) 6.4. European Refined Petroleum Product Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Refined Petroleum Product Market (2021-2027) 7.1. Asia Pacific Refined Petroleum Product Market, by Type (2021-2027) 7.2. Asia Pacific Refined Petroleum Product Market, by Fraction(2021-2027) 7.3. Asia Pacific Refined Petroleum Product Market, by Application (2021-2027) 7.4. Asia Pacific Refined Petroleum Product Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Refined Petroleum Product Market (2021-2027) 8.1. Middle East and Africa Refined Petroleum Product Market, by Type (2021-2027) 8.2. Middle East and Africa Refined Petroleum Product Market, by Fraction(2021-2027) 8.3. Middle East and Africa Refined Petroleum Product Market, by Application (2021-2027) 8.4. Middle East and Africa Refined Petroleum Product Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Refined Petroleum Product Market (2021-2027) 9.1. South America Refined Petroleum Product Market, by Type (2021-2027) 9.2. South America Refined Petroleum Product Market, by Fraction(2021-2027) 9.3. South America Refined Petroleum Product Market, by Application (2021-2027) 9.4. South America Refined Petroleum Product Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Royal Dutch Shell 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. BP plc 10.3. Exxon Mobil 10.4. PJSC Lukoil 10.5. Chevron 10.6. Total SA 10.7. Marathon Petroleum Corporation 10.8. Valero Energy Corp 10.9. Saudi Aramco 10.10. Bharat Petroleum Corp Ltd 10.11. Vitol Group 10.12. Monjasa Holding AS 10.13. Fuelsupply 10.14. Oryx Energies 10.15. Others.

About This Report

Report ID 146952
Category Material & Chemical
Published Date May 2022
Updated Date
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