Oil Refining Market Forecast and Opportunity Assessment till 2026

Oil Refining Market offers good growth opportunities during the next five year period ending 2026. In its detailed market assessment report, Stratview Research has analysed the Oil Refining Market emerging trends, forecasts, competitive landscapes, and factors governing the market dynamics.

The study will cover the market intelligence and information for a period of 12 years from 2014 to 2026. The base year for the study is 2020.

Global Oil Refining Market Forecast:

The global Oil Refining Market is anticipated to recoup from the effects of COVID-19 starting from the year 2021 and will grow at a modest CAGR during the forecast period of 2021-2026.

Oil refining market is likely to witness a healthy CAGR of 4.3% during the forecast period.

The market is estimated through a rigorous triangulation process of internal data, secondary analysis and the insights gained from the primary interviews with industry experts.

The Oil Refining Market growth depends upon numerous factors which have direct or indirect impact the demand.

The key factors governing the demand for Oil Refining Market are:

Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
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Oil Refining Market Segmentation:

Oil refineries convert crude oil into petroleum products to be used as fuel for transportation, heating, paving roads, and generating electricity. Refining involves three stages namely, separation, conversion, and treatment. Key products extracted from refining crude oil are LPG (liquid petroleum gas), gasoline, kerosene, naphtha, heating oil, base oil for lubricants, and asphalt.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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COVID-19 IMPACT Analysis on Oil Refining Market

COVID-19 has affected all the businesses, small or big, present in any sector. The dynamics of Oil Refining Market have seen a huge shift in the year 2020. The market environment and the way of operations have taken a huge turn and have led to many changes in the processes, which will have repercussions for a long period. 2021 is likely to be better than 2020 for the Oil Refining Market players as most of the businesses have resumed their operations and the demand is getting restored for them.

Note: This report will be updated to incorporate the impact of COVID-19 on the market forecast for the period of 2021 to 2026.

Oil Refining Market Competitive Analysis:

The report studies the competitive framework and business environment via different analytical frameworks such as

Porters Five Forces Model
SWOT Analysis
PEST Analysis
Success Factors
Growth Matrix
The key players in Oil Refining Market are:

BP PLC
Chevron Corporation
China National Petroleum Corporation (CNPC)
Exxon Mobil Corporation
Petróleos de Venezuela SA
Rosneft PAO
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
Sinopec Corp.
Total SA
The Oil Refining Market report benchmarks the major competitors on critical parameters, some of which are mentioned below:

Sales from the Oil Refining Market segment
Geographic diversification
New product launches
Market Share
Strategic alliances, mergers and acquisitions
Alignment with the market
Regional dominance of the competitors

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This release was published on openPR.