Oil Refining Market Newer segments of application 2028
The global oil refining market is expected to grow at a phenomenal pace in the in coming years as the demand for energy continues to be on the rise. As developing economies find themselves on the cusp of industrial and economic progress, the countries are expected to need a huge amounts of energy to keep up with rapid progress. The market for oil refining will also be driven by the dependency of the developing countries on other nations to meet their oil demands. The research report discusses the various aspects of the global oil refining market that are expected to define its trajectory.
Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=4041
Global Oil Refining Market: Trends and Opportunities
Rapid pace of industrialization and urbanization are expected to be the key factors responsible for the massive growth of the global oil refining market. Dependence of countries such as China and India on other countries for oil is projected to bode well for the market too. Technological advancements in refining processes and higher quality of equipment are also expected to help the vendors operating in the oil refining market to tap into lucrative opportunities.
Global Oil Refining Market: Market Potential
Vendors operating in the global oil refining market are expected to focus on production of cleaner fuels as the world reels under the pressure of global warming. To keep up with this trend, ExxonMobil announced its plans to make a multi-billion dollar investment in its Singapore facility. The move comes ahead of the new regulation for global shipping of fuel that is expected to take effect by 2020. The new rule by The International Maritime Organization (IMO) will restrict the sulphur content to just about 0.5%, which is pegged at 3.5% at the moment. This is aimed at reducing the pollution caused by the shipping industry.
ExxonMobil stated that the investment will respect the new rule as it intends to bring in proprietary technologies for converting by-products of a lower value into cleaner and higher value products, which will include 0.5% sulphur fuels.
Request TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=4041
Global Oil Refining Market: Regional Outlook
On the basis of region, the global oil refining market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Out of these, Asia Pacific is expected to lead the global market for oil refining in the coming years due to strengthening economies of India and China. Progress of Asia Pacific oil refining market will be backed by China as the country is undergoing monumental changes in terms of economic development, which is expected to trigger a high demand for petroleum products. Efforts to reduce dependency on imports is expected to augment the oil refining industry in China. China’s oil refining industry saw a 6.6% rise in December 2017 from the same time last year as it exported 1.6 million barrels per day, state resources.
India too is expected to be a key contributor to the soaring oil refining market in Asia Pacific. The massive oil refining unit in Jamnagar is expected to see a booming activity in the coming years. Presently, Reliance Industries Ltd. operates it the refinery that boasts a capacity of 1.24 million barrels a day. Permission to have a 100% foreign direct investment (FDI) in the various parts of oil and gas industry across India is also projected to boost India’s contribution to the Asia Pacific oil refining market.
Global Oil Refining Market: Competitive Landscape
The players making their mark on the competitive landscape present in the global oil refining market are Abu Dhabi National Oil Company, Indian Oil, S-Oil, Hindustan Petroleum, Saudi Aramco, Bharat Petroleum, Kuwait Petroleum, Fluor, Chevron, BP, Shell, Exxon Mobil, SINOPEC, Phillips 66, Reliance, and PBF Energy.
Read Comprehensive Overview of Report @ https://www.tmrresearch.com/oil-refining-market
About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends
3739 Balboa St # 1097,
San Francisco, CA 94121
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Oil Refining Market Newer segments of application 2028 here
News-ID: 2129288 • Views: 150
More Releases from TMR Research
Smart Water Management Market Future Trends Landscape 2025 | ABB Ltd, Aclara
Global Smart Water Management Market: Overview The global smart water management market is set to witness an increase in its market worth over the forecast period of 2019 to 2029. TMRR notes that it will be a result of moderate but steady growth rate projected for the market over this period. It also delineates how the market is driven by a slew of trends and drivers. Get Sample Copy of the Report
Intelligent Virtual Assistant Market Challenges On Upcoming Trends 2029 | Intel …
Global Intelligent Virtual Assistant Market: Overview A stellar growth curve is anticipated to be charted by the global intelligent virtual assistant market over the forecast period of 2019 to 2029, notes TMRR. One of the primary growth factors in the global virtual assistant market is growing demand for efficiency arising from service-based industries. Technological advancement holds a prominent place in the growth story as Internet of Things and Artificial Intelligence witness
Refurbished Computer and Laptops Market - Future Adoption Overview 2029 | Brambl …
Global Refurbished Computer and Laptops Market: Overview The global refurbished computer and laptops market is all set to register high growth trajectory during the forecast period of 2019 to 2029. This growth is attributed to increased use of refurbished computer and laptops owing to growing awareness about e-waste. In addition to this, the major worldwide population is inclined toward using refurbished computer and laptops because of their cost-effectiveness. Refurbished computer and
Contactless Biometrics Technology Market Revolutionary Opportunities 2029 | Touc …
Contactless Biometrics Technology Market: Overview Contactless biometrics is a relatively new technology for face, fingerprint, and iris identifications. Contactless biometrics technology has attracted a newfound attention among industries on the back of COVID-19 pandemic. Social distancing measures have spurred role of contactless technologies in businesses. A recent case in point is the adoption of contactless biometrics at airports in some developed countries. The aviation industry thus has been accelerator of the
More Releases for Oil
Base Oil Market
Base Oil Market Size Worth $ 48,347.04 Million By 2026 | CAGR: 1.2% The global Base Oil market size is expected to reach USD 48,347.04 million by 2026 according to a new study by WhipSmart MI Research. The report “Base Oil Market by Type (Group I, Group II, Group III, Group IV and Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil and Others) and By Regions,
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Oil & Gas Explosion Lawyer
Concerns about gas and oil explosions and worker safety have been at the forefront of Oklahoma state officials’ minds as they continue to investigate a recent Pittsburg County explosion that left five workers dead and 17 with minor injuries. The explosion has shaken a state that is heavily invested in the fuel industry and has been said to be the worst incident of its kind since the Deepwater Horizon tragedy. Oklahoma
Global Base Oil Market 2016: by Application - Automotive Oil, Industrial Oil, Me …
Base oil is the name given to lubrication grade oils initially produced from refining crude oil (mineral base oil) or through chemical synthesis (synthetic base oil). Base oil have a high boiling point ranging between 550F to 1050F. Base oil can be either paraffinic or naphthenic in nature depending on the chemical structure of the molecules. Go For Sample Report @ http://bit.ly/2bSaaNb Increasing usage of automotive oil for various lubricating applications in