What is Oil Refining - Market Scope?
An oil refinery is an industrial plant that refines crude oil into petroleum products such as diesel, gasoline, and heating oils. The process of oil refining consists of several processing units such as distillation, cracking, coking, reforming, and posttreatment and refining of the products. Government focus to reduce the environmental impact of oil- and gas-derived fuels by removing harmful pollutants and improving their reliability during combustion is the major factor driving the global market growth. As per the study, the United States is the largest oil refiner in the world with the capacity to produce around 19 million barrels of oil per day.
|Unit||Value (USD Million)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Oil Refining - market study is being classified by Type (Topping Oil Refinery, Hydro-skimming Oil Refinery, Conversion Oil Refineries and Deep Conversion Refineries), by Application () and major geographies with country level break-up.
Global Oil Refining is a fragmented market due to the presence of various players. The players are focusing on investing more in launching products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Reliance Industries Limited (India), SK Energy (South Korea), PDVSA (Venezuela), GS Caltex (South Korea), ExxonMobil (United States), Motiva Enterprises (United States), Saudi Aramco (Saudi Arabia), Marathon Petroleum (United States) and S-Oil (South Korea) are some of the key players profiled in the study.
Segmentation AnalysisAnalyst at AMA have segmented the market study of Global Oil Refining - market by Type, Application and Region.
On the basis of geography, the market of Oil Refining - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategiesOn 12th January 2022, Aramco expanded its global downstream presence with investments in Poland’s refining, wholesale, and jet fuel marketing segments. The company acquire equity stakes of 30% in a 210,000 barrels per day refinery in Gdansk, 100% in an associated wholesale business, and 50% in a jet fuel marketing joint venture with BP. The acquisitions will support the diversification of Aramco’s product portfolio across the hydrocarbon value chain such as a focus on liquids-to-chemicals pathways.
On 18th October 2021, GS Caltex launch its flagship lubricant brand Kixx in Africa. The launch will help to expand GS Caltex's marketing activities in Africa through its subsidiary GS Caltex India Pvt Ltd (GSIPL). GS Caltex aims to replicate its international success by seeking new opportunities in a new continent.
Any licence or permission granted or issued under the Petroleum Development Act 1974 and any regulations made thereunder shall continue to be in force until superseded, revoked or otherwise terminated and the provisions of these Regulations shall apply to such licence or permission: Provided that any such licence or permission which is expressed to remain in force for a definite period shall not remain in force after the expiration of that period unless it should be renewed in accordance with the Petroleum Development Act 1974 and these Regulations, as the case may be.
Influencing Market Trend
- Evolving Technology and New Sources of the Crude Oil
- Strategic Consolidation of the Size, Number, and Ownership of Facilities and Companies
- Growing Demand for Petroleum Products in Transportation Industry
- Product Demand, Crude Supply, Environmental Regulations, and New Technology Development are the major Factors that Drive the Market
- High Government Investment in Construction of New Oil Refineries
- Rapidly Growing Demand for Distillate Fuels over the Globe
- Concerns Related to the Crude Oil Price Volatility and Stringent Government Emission Regulations
- Changes In Business Model And Integrating Low-Carbon Assets In Oil Refining Company’s Portfolio
- Need for More Flexible and Versatile Refinery
Key Target AudienceOil Refining Manufacturers, Oil Refining Suppliers and Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. Who are the prominent players of the Global Oil Refining - market?
The prominent players of Global Oil Refining - market are Reliance Industries Limited (India), SK Energy (South Korea), PDVSA (Venezuela), GS Caltex (South Korea), ExxonMobil (United States), Motiva Enterprises (United States), Saudi Aramco (Saudi Arabia), Marathon Petroleum (United States) and S-Oil (South Korea), to view complete player list click here
2. What are the top priorities to focus for Oil Refining - markets growth?
In this highly competitive & fast evolving Oil Refining - industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.