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Refined Petroleum Products Market 2023: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2032
Refined Petroleum Products Market
Refined Petroleum Products Market Size, Growth Rate, And Forecast
The global refined petroleum products market grew from $2,616.61 billion in 2022 to $2,703.40 billion in 2023 at a compound annual growth rate (CAGR) of 3.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refined petroleum products market is expected to grow to $3,011.98 billion in 2027 at a CAGR of 2.7%.
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Refined Petroleum Products Market Drivers
Refineries are increasingly adopting Carbon Capture and Storage techniques to reduce CO2 emission levels in the atmosphere. This technique involves trapping CO2 at its emission source and transporting it to a different storage location which is actively monitored and measured. This way CO2 is isolated from the atmosphere, thereby reducing emission levels.
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Refined Petroleum Products Market Segments
1) By Type: Diesel, Gasoline, Fuel Oil, Kerosene, Other 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, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Refined Petroleum Products Market.
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Refined Petroleum Products Market Key Players
Major competitors in the Refined Petroleum Products Market include Royal Dutch Shell, BP plc, Exxon Mobil, PJSC Lukoil, Chevron, Total SA, Marathon Petroleum Corporation, Valero Energy Corp, Saudi Aramco, and Bharat Petroleum Corporation Limited
The Business Research Company's "Global Refined Petroleum Products Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Refined Petroleum Products Market Include:
1. Executive Summary
2. Report Structure
3. Refined Petroleum Products Market Characteristics
4. Refined Petroleum Products Market Product Analysis
5. Refined Petroleum Products Market Supply Chain
.......
21. Key Mergers And Acquisitions In The Refined Petroleum Products Market
22. Market Background: Oil Downstream Activities Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
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