Press release
Refined Petroleum Products Market will Record Rapid Growth, Emerging Trend, Industry Analysis till 2028 with COVID-19 Impact | Top Key Companies: Exxon Mobil Corporation, Sinopec Limited, Royal Dutch Shell, BP Plc, Chevron, Saudi Aramco
Refined Petroleum Products Market
New study report" Refined Petroleum Products Market 2021 Market Opportunities, Challenges, Strategies, and Forecasts 2028″ has been added to Fortune Business Insights.
Market Overview:
The refined petroleum products market size was USD 586.27 billion in 2020. The market is projected to grow from USD 611.94 billion 2021 to USD 863.19 billion in 2028 at a CAGR of 5.0% during the 2021-2028 period.
The report on the Refined Petroleum Products Market is designed by proficient analysts with the motive to serve on table as an ultimate guide for investors, stakeholders, and people in business to make decisions to augment the growth of the Refined Petroleum Products market. The report holds market statistics, values, and other factors that can influence the Refined Petroleum Products market. The market is studied for the forecast period of 2021 to 2028. An in-depth study on the market has been performed to prepare a report maintaining high degree of accuracy thought out. The report details qualitative and quantitative analysis of the Refined Petroleum Products market. The market overview section elaborates on drivers and constraining factors of the market. Additional causes that are anticipated to cast an impact on the market are also discussed in the report. Our market researchers have meticulously studied the market dynamics to deliver an accurate content-rich report.
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Key Industry Development:
November 2021: Sinopec Corp. secured a contract with U.S.-based Venture Global LNG for buying 4 million tons of liquefied natural gas (LNG) for a period of 20 years. Under the phase one of the agreement, the organization will increase energy imports, including crude oil, refined products, LNG, and coal by USD 52.4 billion over two years.
List of Companies Covered in the Refined Petroleum Products Market Report:
Exxon Mobil Corporation
Sinopec Limited
Royal Dutch Shell
BP Plc
Chevron
Saudi Aramco
Marathon Petroleum Corporation
Total Energies
Valero Energy
Rosneft
Petrobras
China National Petroleum Corporation
Covide-19 Impact:
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Method of Research:
Fail-safe, modern research methodologies are employed for the Refined Petroleum Products market analysis. An exhaustive primary and secondary research conducted on the market using robust research techniques aid in the prediction of the market size at the end of forecast period. Top-up and bottom-down approaches were maintained in the entire market study.
Competitive Landscape:
Prominent Players to Focus on Rising Brand Value and Project Collaborations to Expand Market Value
Dominant market players in the market, such as Royal Dutch Shell and Exxon Mobil Corporation, occupy a majority of the market share. These players primarily operate in Europe, North America, and Asia Pacific and are constantly operating for integrating maximum revenue. For example, in October 2021, Worley secured a contract for allowing low-value refinery residue into higher-value products, including jet fuel, gasoline, ultra-low sulfur diesel, and others. Under the contract, Worley will offer front-end engineering design (FEED), early front-end engineering design (pre-FEED), and project management services.
Driving Factors:
Rising Demand for Energy to Augment Growth
Factors such as increasing population and rapid urbanization will lead to an increasing demand for energy, thereby driving the refined petroleum products market growth during the forecast period. Also, rising utilization of refined petroleum products such as diesel, gasoline, aviation fuel, kerosene, and others will fuel the growth of the market. Additionally, expanding automotive and aviation sectors along with rising demand for diesel, petrol, lubricants, and others will increase the footprint of the market.
However, growing adoption of renewable energy sources will limit the growth of the market during the forecast period.
Segmentation:
Product Type, Application, Fraction, and Region are studied for the Market
By product type, the market is divided into gasoline, diesel, fuel oils, kerosene, and others.
On the basis of application, the market is segmented across fuel, chemical, and others.
With respect to fraction, the market is fragmented into light distillates, middle distillates, and heavy oils.
In terms of geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights:
Asia Pacific to Hold Largest Market Share due to Rising Demand for Energy & Refined Crude Oil Products
Asia Pacific will witness the largest refined petroleum products market share during the forecast period, owing to rising demand from emerging China and India along with improving run rates of refineries. Additionally, increasing presence of dominant players in the region and growing oil & gas exploration activities will boost the market growth.
Europe will contribute a significant market share due to rising production capacities from prominent players and increasing dependency on oil imports. Rising efforts by prominent players for increasing organic and inorganic expansions will proliferate the footprint of the market.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
North America Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
Europe Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
Asia Pacific Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
Middle East and Africa Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
Latin America Refined Petroleum Products Market Analysis, Insights and Forecast, 2021-2028
Market Share Analysis, By Key Players, 2021
Competition Matrix
Company Profile
Continue….
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