The refined petroleum products market consists of sales of refined petroleum products by entities (organizations, sole traders or partnerships) that convert crude petroleum to refined petroleum products such as gasoline, naphtha, diesel fuel and liquefied petroleum gas and then sell these refined products. Petroleum refineries are large industrial complexes with extensive pipeline networks carrying crude oil and refined petroleum products between sub processing units. Revenues in this market represent the value of the different refined petroleum products. The main types of petroleum products are diesel, gasoline, fuel oil, kerosene, and other refined petroleum products. Gasoline is a petroleum-based fuel made from crude oil and other liquids. Gasoline is primarily used in vehicles as an engine fuel. The various fraction includes light distillates, middle distillates, heavy oils and the different refinery type are integrated refined petroleum product and non-integrated refined petroleum product. The applications of refined petroleum products are fuel, chemicals and others.
MARKET SCOPE
The "Global Refined petroleum products Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the refined petroleum products market with detailed market segmentation by product, application, and geography. The global refined petroleum products market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading refined petroleum products market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- The global refined petroleum products market is segmented on the basis of product, and application.
- On the basis of product, the refined petroleum products market is segmented into diesel, gasoline, fuel oils, and kerosene.
- Similarly, on the basis of application the refined petroleum products market is bifurcated into fuel, chemical, and others.
MARKET DYNAMICS
Drivers:
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- Increase in demand for electricity and growth in rapid population growth drive the demand for refined petroleum products. Surge in demand for petroleum products to manufacture petrochemicals is expected to propel the refined petroleum products market in the near future.
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- Emission of carbon and generation and management of hazardous waste from petroleum refineries are expected to restrain of the refined petroleum products market during the forecast period.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Refined petroleum products oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the refined petroleum products oil market in these regions.
IMPACT OF COVID-19 ON REFINED PETROLEUM PRODUCTS MARKET
The COVID-19 pandemic has affected several sectors across the globe. The pandemic caused severe economic backlashes to the market due to faltering crude prices and disruptions in the global supply chain. Constant lockdowns and restrictions on the movement of the general population forced dominant players operating in the market to function at less than the optimal workforce. A gradual decline has been observed at refineries in terms of onshore and offshore activities.
MARKET PLAYERS
The report covers key developments in the refined petroleum products oil market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Refined petroleum products oilmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for refined petroleum products market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the refined petroleum products market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Exxon Mobil Corporation
- Sinopec Limited
- Royal Dutch Shell
- BP Plc
- Chevron
- Saudi Aramco
- Marathon Petroleum Corporation
- Total Energies
- Valero Energy
- Rosneft.