Oil Refining Market - Forecast(2023 - 2028)

Report Code: EPR 0102 Report Format: PDF + Excel

Oil Refining Market Overview:


The Oil Refining Market is anticipated to attain a market value of $ XX by the year 2030,exhibiting a steady compound annual growth rate CAGR of XX % during the forecast period spanning from 2023 to 2030.

The Crude oil primary feedstock for refineries, is sourced from various locations around the world. Different types of crude oil have distinct properties, including composition and sulfur content, which impact the refining process and the resulting products.

Refineries continually adopt new technologies to improve efficiency, reduce energy consumption, and meet environmental standards. This includes the development of cleaner fuels and the use of advanced catalysts.

The oil refining market is influenced by global supply and demand for energy, geopolitical factors, and economic conditions. Changes in crude oil prices and availability can significantly impact the profitability of refineries.

Market Snapshot:

Oil Refining Market - Report Coverage:

The “Oil Refining” Market Report - Forecast (2023-2030)” by Industry ARC, covers an in-depth analysis of the following segments in the Oil Refining Market.

Attribute

Segment

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030


Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Product Type

  • Light Distillates

  • Middle Distillates

  • Fuel Oil

  • Others





Application

  • Transportation 

  • Aviation

  • Marine Bunker

  • Petrochemical

  • Residential & Commercial

  • Agriculture

  • Electricity

  • Rail & Domestic Waterways

  • Others



By Complexity Type

  • Topping 

  • Hydro-Skimming

  • Conversion

  • Deep Conversion

  • Others


Oil Refining Market Overview:

The shift toward cleaner and renewable energy sources is influencing the long-term outlook for the refining industry. Refineries are adapting to these changes by diversifying their product portfolios and exploring green technologies.

The industry is also exploring alternative and renewable fuels to reduce its carbon footprint. This includes biofuels, hydrogen, and synthetic fuels.

The industry faces challenges such as volatile crude oil prices, changing consumer preferences, and the need for substantial capital investments in infrastructure and technology.

Refineries are part of a complex supply chain that includes transportation, storage, and distribution networks, which play a critical role in ensuring a stable supply of refined products.

Oil Refining Market - Top Trends:

Environmental Regulations and Sustainability: Stricter environmental regulations and a growing emphasis on sustainability were driving changes in the industry. Refineries were investing in cleaner technologies, reducing emissions, and exploring renewable and low-carbon fuel options to meet evolving environmental standards.

Digitalization and Industry 4.0: Digital technologies, such as data analytics, Internet of Things (IoT), and artificial intelligence, were being increasingly adopted to optimize operations, enhance efficiency, and reduce maintenance costs. This trend was known as Industry 4.0, and it aimed to make refineries more agile and responsive.

Residue Upgrading: To maximize profitability and cope with declining demand for heavy fuels like fuel oil, refineries were investing in residue upgrading technologies. These processes aim to convert heavy residues into higher-value products like diesel and gasoline.

Biofuels and Renewable Feedstocks: Growing interest in biofuels, such as bioethanol and biodiesel, was driven by environmental concerns and renewable energy targets. Some refineries were adapting to process bio-based feedstocks and integrate them into their product portfolios.

Key Market Players:

  1. Saudi Aramco
  2. Sinopec
  3. ExxonMobil
  4. Royal Dutch Shell
  5. Total Energies
  6. Chevron Corporation
  7. Rosneft
  8. Valero Energy Corporation
  9. Phillips 66
  10. Marathon Petroleum Corporation

Scope of Report:

Report Metric

Details

Base Year Considered

2022

Forecast Period

2023 – 2030

CAGR

XX %

Market Size in 2030

XX billion

Segments covered

By Application, By Product, By End User and By Region





Geographies Covered

  • North America (U.S., Canada, Mexico) • Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)

  • Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)

  • LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)





Key Market Players

  1. Saudi Aramco

  2. Sinopec

  3. ExxonMobil

  4. Royal Dutch Shell 

  5. Total Energies 

  6. Chevron Corporation

  7. Rosneft

  8. Valero Energy Corporation

  9. Phillips 66

  10. Marathon Petroleum Corporation


1.Oil Refining Market - Overview
    1.1.Definitions and Scope
2.Oil Refining Market - Executive Summary
3.Oil Refining Market - Comparative Analysis
    3.1.Company Benchmarking - Key Companies
    3.2.Global Financial Analysis - Key Companies
    3.3.Market Share Analysis - Key Companies
    3.4.Patent Analysis
    3.5.Pricing Analysis
4.Oil Refining Market - Start-up Companies Scenario 
    4.1.Key Start-up Company Analysis by
        4.1.1.Investment
        4.1.2.Revenue
        4.1.3.Venture Capital and Funding Scenario
5.Oil Refining Market – Market Entry Scenario Premium
    5.1.Regulatory Framework Overview
    5.2.New Business and Ease of Doing Business Index
    5.3.Case Studies of Successful Ventures
6.Oil Refining Market - Forces
    6.1.Market Drivers
    6.2.Market Constraints
    6.3.Market Challenges
    6.4.Porter's Five Force Model
        6.5.5.Bargaining Power of Suppliers
        6.6.6.Bargaining Powers of Customers
        6.7.7.Threat of New Entrants
        6.8.8.Rivalry Among Existing Players
        6.9.9.Threat of Substitutes
7.Oil Refining Market – Strategic Analysis
    7.1.Value Chain Analysis
    7.2.Opportunities Analysis
    7.3.Market Life Cycle
8.Oil Refining Market – by Product Type
    8.1. Light Distillates
        8.1.1.Market Trends by Region
        8.1.2.Market Share & Forecast by Region
    8.2.Middle Distillates 
        8.2.1.Market Trends by Region
        8.2.2.Market Share & Forecast by Region
    8.3.Fuel Oil
        8.3.1.Market Trends by Region
        8.3.2.Market Share & Forecast by Region
    8.4.Others
        8.4.1.Market Trends by Region
        8.4.3.Market Share & Forecast by Region
9.Oil Refining Market – by Application
    9.1.Transportation
        9.1.1.Market Trends by Region
        9.1.2.Market Share & Forecast by Region
    9.2.Aviation 
        9.2.1.Market Trends by Region
        9.2.2.Market Share & Forecast by Region
    9.3.Marine Bunker
        9.3.1.Market Trends by Region
        9.3.2 Market Share & Forecast by Region
    9.4.Petrochemical
        9.4.1.Market Trends by Region
        9.4.2.Market Share & Forecast by Region
    9.5.Residential & Commercial
        9.5.1.Market Trends by Region
        9.5.2.Market Share & Forecast by Region
    9.6.Agriculture
        9.6.1.Market Trends by Region
        9.6.2.Market Share & Forecast by Region
    9.7.Electricity
        9.7.1.Market Trends by Region
        9.7.2.Market Share & Forecast by Region
    9.8.Rail & Domestic Waterways 
        9.8.1.Market Trends by Region
        9.8.2.Market Share & Forecast by Region
    9.9.Others 
        9.9.1.Market Trends by Region
        9.9.2.Market Share & Forecast by Region
10.Oil Refining Market – By Complexity Type (Market Size – $Million/$Billion) 
    10.1.Topping
        10.1.1.Market Trends by Region
        10.1.2.Market Share & Forecast by Region
    10.2.Hydro-Skimming
        10.1.1.Market Trends by Region
        10.2.2.Market Share & Forecast by Region
    10.3.Conversion and
        10.1.1.Market Trends by Region
        10.2.2.Market Share & Forecast by Region
    10.4.Deep Conversion
        10.1.1.Market Trends by Region
        10.2.2.Market Share & Forecast by Region
    10.5.Others 
        10.1.1.Market Trends by Region
        10.2.2.Market Share & Forecast by Region
11.Oil Refining Market – by Geography (Market Size – $Million/$Billion) 
11.1.North America
        11.1.1.The U.S.
        11.1.2.Canada
    11.2.Europe
        11.2.1.UK
        11.2.2.Germany
        11.2.3.France
        11.2.4.Italy
        11.2.5.Spain
        11.2.6.Russia
        11.2.7.Rest of Europe
    11.3.Asia-Pacific
       11.3.1.China
       11.3.2.India
       11.3.3.Japan
       11.3.4.South Korea
       11.3.5.Australia & New Zealand
       11.3.6.Rest of Asia-Pacific
    11.4.South America
       11.4.1.Brazil
       11.4.2.Argentina
       11.4.3.Chile
       11.4.4.Colombia
       11.4.5.Rest of South America
    11.5.Rest of the World
       11.5.1.Middle East
       11.5.2.Africa
12.Oil Refining Market – Entropy
13.Oil Refining Market – Industry/Segment Competition Landscape
    13.1.Market Share Analysis
       13.1.1.Market Share by Product Type – Key Companies
       13.1.2.Market Share by Region – Key Companies
       13.1.3.Market Share by Country – Key Companies
    13.2.Competition Matrix
    13.3.Best Practices for Companies
14.Oil Refining Market – Key Company List by Country Premium
15.Oil Refining Market - Company Analysis
    15.1.Mattel Inc.
    15.2.Hasbro Inc.
    15.3.LEGO Group
    15.4.WowWee Group Limited
    15.6.VTech Holding Limited 
    15.7.Anki Inc.
    15.8.Fisher-Price Inc.
    15.9.MGA Entertainment, Inc.
    15.10.Osmo
    15.11.LeapFrog Enterprises, Inc.
    15.12.Spin Master Corp.
    15.13.UBTECH Robotics Corp.
    15.14.littleBits Electronics, Inc.
    15.15.DJI
    15.16.Parrot SA
    15.17.Silverlit Toys Manufactory Ltd.
    15.18.Orbotix, Inc.
    15.19.Zoomer
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Oil Refining Market is projected to grow at XX% CAGR during the forecast period 2023-2030.

Oil Refining Market size is Estimated to reach XX billion by 2030

The Top Companies in the Oil Refining Market are Petrobras, Petronas, Lukoil, HollyFrontier Corporation, Eni S.p.A, PT Pertamina (Persero), and others.