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Refined Petroleum Products Market:Executive Summary
The global refined petroleum products market is expected to decline from $2518.8 billion in 2019 to $1427.8 billion in 2020 at a compound annual growth rate (CAGR) of -43.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $1676.9 billion in 2023.
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.
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To reduce the pollution levels, companies have started adopting the gas to liquid technology which produces high quality petroleum products. The gas to liquid technology is the conversion of natural gas to high quality liquid products such as transportation fuels, motor oils, naphtha, diesel and waxes. This technology uses natural gas as a substitute to crude oil as gas is considered to be the cleanest burning fossil fuel and is abundant, versatile and easily affordable. The by- products obtained by using the GTL technology are colorless, odorless and contain negligent amounts of impurities. Shell, Chevron and PetroSA have adopted this technology to produce transportation fuels, oils and by products to produce plastics, detergents and cosmetics.
Asia Pacific was the largest region in the global refined petroleum products market, accounting for 29% of the market in 2019. Western Europe was the second largest region accounting for 16% of the global refined petroleum products market. South America was the smallest region in the global refined petroleum products market.
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. It places the market within the context of the wider refined petroleum products market, and compares it with other markets.
• 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, the impact of the Covid 19 virus and forecasting its recovery.
• Market segmentations break down 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 impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape 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.
• The refined petroleum products market section of the report gives context. It compares the refined petroleum products market with other segments of the oil downstream activities market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, refined petroleum products indicators comparison.
Scope
Markets Covered:
1) By Type: Diesel; Gasoline; Fuel Oil; Kerosene; Others - Refined Petroleum Products
2) By Fraction: Light Distillates; Middle Distillates; Heavy Oils
3) By Refinery Type: Integrated Refined Petroleum Product; Non-Integrated Refined Petroleum Product
4) By Application: Fuel; Chemical; Others
Companies Mentioned: Royal Dutch Shell; Exxon Mobil Corporation; Sinopec Limited; BP Plc; Chevron
Metrics Covered: Number of Enterprises; Number of Employees
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, refined petroleum products indicators comparison.
Data segmentations: 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.
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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