Quick Summary:
Navigating the intricate landscape of the global oil downstream market is a challenge that requires a holistic understanding and judicious analysis of market trends, competitors, regulatory environment, and technological advancements. Securing a comprehensive knowledge of these factors is crucial to making informed decisions and maintaining a competitive edge in this dynamic market. Our market research report on oil downstream products can deliver exactly that, making it an essential resource for senior business executives.
Our report provides incisive insights into the global oil downstream market, encompassing refined petroleum products, asphalt, lubricating oil, and grease. Bolstered by the adoption of innovative technologies like Gas to Liquid (GTL), the market presents promising growth opportunities. From Shell and Chevron's use of GTL for producing high-quality petroleum products to the regional trends in Asia-Pacific and North America, our report illuminates the intricacies of the market landscape. Identification of potential challenges such as political instability affecting oil supplies also forms a part of this comprehensive analysis.
The oil downstream market research report is your gateway to a world of knowledge, delivering unmatched perspective on the industry's current and future scenario. Elevate your strategic decision-making with this invaluable resource.
The oil downstream products market size is expected to see steady growth in the next few years. It will grow to $3609.01 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The forecasted growth in the upcoming period can be associated with the adoption of electric vehicles (EV), the shift towards renewable energy, initiatives promoting carbon capture and utilization, efforts towards energy efficiency, and the evolving dynamics of global trade. Key trends anticipated in this period encompass the increased prominence of biofuels and alternative fuels, substantial investments in petrochemicals, a heightened focus on cleaner fuels, the expansion of refining capacities, the digital transformation of downstream operations, and the establishment of strategic alliances and partnerships.
The growth of the global oil downstream products market was significantly hampered by disruptions in oil supply in specific markets, attributed to political instability and extremism. Major crude oil exporters such as Libya, Iraq, Nigeria, and Colombia experienced interruptions due to political instability and terrorist attacks on oil and gas wells and refineries, causing a notable impact on market growth. A case in point is the terrorist attack in May 2021, where explosives were utilized to set fire to two wells in a small oilfield in northern Iraq, leading to substantial disruption in oil and gas supplies.
Anticipated growth in the oil downstream products market is driven by the increasing demand for petroleum products. These products, derived from crude oil and hydrocarbons in natural gas, hold commercial value and are used to refine crude oil into consumable items marketed to industrial or retail end customers. As an illustration, the International Energy Agency reported in July 2023 that global diesel or gasoil demand reached 1.5 million barrels per day in 2021, highlighting the rising demand for petroleum products as a growth factor in the market.
Companies are adopting gas-to-liquid (GTL) technology to produce high-quality petroleum products. GTL technology converts natural gas into liquid products such as transportation fuels, motor oils, naphtha, diesel, and waxes. This cleaner-burning fossil fuel is abundant, versatile, and cost-effective. Major companies such as Shell, Chevron, and PetroSA have embraced GTL technology to manufacture transportation fuels, oils, and by-products used in the production of plastics, detergents, and cosmetics.
Key players in the oil downstream products market are emphasizing innovation in product development. For instance, epoxy intumescent coatings, such as Hempafire XTR 100 launched by Hempel Group, offer fire resistance by expanding during heat exposure to form a thick, insulating char layer. This UL 1709-certified hydrocarbon passive fire protection coating provides safety and project benefits, insulating steel during a hydrocarbon pool fire and allowing for an extended period to safely evacuate workers and protect property and equipment during firefighting efforts.
Major companies operating in the oil downstream products market report are Saudi Arabian Oil Company, PetroChina Company Limited, Exxon Mobil Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation (Sinopec), Shell Chemical LP, Royal Dutch Shell, TotalEnergies SE, BP p.l.c., Chevron Corporation, Marathon Petroleum Corporation, Valero Energy Corporation, Phillips 66, Indian Oil Corporation Limited, Rosneft Oil Company, Reliance Industries Limited, Gazprom Neft, Bharat Petroleum Corporation Limited, The Dow Chemical Company, LyondellBasell Industries N.V., Hindustan Petroleum Corporation Limited, LUKOIL, HollyFrontier Corporation, PBF Energy Inc., Mangalore Refinery and Petrochemicals Limited, Chennai Petroleum Corporation Limited, Essar Oil Limited, Numaligarh Refinery Limited, Nayara Energy Limited, Bharat Oman Refineries Limited, Braskem S.A., Sasol Limited.
Asia-Pacific was the largest region in the oil downstream products market in 2023. North America was the second largest region in the oil downstream products market. The regions covered in the oil downstream products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the oil downstream products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The oil downstream products market consists of sales of liquefied natural gas, gasoline, heating oil, synthetic rubber, plastics, lubricants, and antifreeze. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The primary categories of oil downstream products consist of refined petroleum products, asphalt, lubricating oil, and grease. Utilizing catalytic cracking and fractional distillation methods, refined petroleum products are derived from crude oil. The specific physical and chemical attributes of these products are influenced by the type of crude oil and the refining processes applied. The resulting fraction of products includes light distillates, middle distillates, and heavy oils, serving various purposes in fuel, chemical, and other applications.
The oil downstream products market research report is one of a series of new reports that provides oil downstream products market statistics, including oil downstream products industry global market size, regional shares, competitors with an oil downstream products market share, detailed oil downstream products market segments, market trends and opportunities, and any further data you may need to thrive in the oil downstream products industry. This oil downstream products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the estimated value of the Global Oil Downstream Products Market?
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What is the forecasted size of the Global Oil Downstream Products Market?
Who are the key companies in the Global Oil Downstream Products Market?
Report Attribute | Details |
---|---|
No. of Pages | 400 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 3046.83 Billion |
Forecasted Market Value ( USD | $ 3609.01 Billion |
Compound Annual Growth Rate | 4.3% |
Regions Covered | Global |
Table of Contents
Executive Summary
Oil Downstream Products Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on oil downstream products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for oil downstream products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Refined Petroleum Products; Asphalt, Lubricating Oil and Grease
2) By Fraction: Light Distillates; Middle Distillates; Heavy Oils
3) By Application: Fuel; Chemical; Other Applications
Subsegments Covered: Diesel; Gasoline; Fuel Oil; Kerosene; Other Refined Petroleum Products; Asphalt; Other Petroleum Products
Key Companies Mentioned: Saudi Arabian Oil Company; PetroChina Company Limited; Exxon Mobil Corporation; China National Petroleum Corporation; China Petroleum & Chemical Corporation (Sinopec)
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
A selection of companies mentioned in this report includes:
- Saudi Arabian Oil Company
- PetroChina Company Limited
- ExxonMobil Corporation
- China National Petroleum Corporation
- China Petroleum & Chemical Corporation (Sinopec)
- Shell Chemical LP
- Royal Dutch Shell
- TotalEnergies SE
- BP p.l.c.
- Chevron Corporation
- Marathon Petroleum Corporation
- Valero Energy Corporation
- Phillips 66
- Indian Oil Corporation Limited
- Rosneft Oil Company
- Reliance Industries Limited
- Gazprom Neft
- Bharat Petroleum Corporation Limited
- The Dow Chemical Company
- LyondellBasell Industries N.V.
- Hindustan Petroleum Corporation Limited
- LUKOIL
- HollyFrontier Corporation
- PBF Energy Inc.
- Mangalore Refinery and Petrochemicals Limited
- Chennai Petroleum Corporation Limited
- Essar Oil Limited
- Numaligarh Refinery Limited
- Nayara Energy Limited
- Bharat Oman Refineries Limited
- Braskem S.A.
- Sasol Limited
Methodology
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