Claim 30% Off Global Market Reports With Code ONLINE30 – Insights on Tariff Effects, Global Trade, and Industry Disruptors

Claim 30% Off Global Market Reports With Code ONLINE30 – Insights on Tariff Effects, Global Trade, and Industry Disruptors

What Is The Current Size And Growth Outlook For The Oil Downstream Products Market?

Over the past few years, the market size for oil downstream products has consistently increased. The market growth is projected to rise from $3358.27 billion in 2024 to $3489.29 billion in 2025, with a compound annual growth rate (CAGR) of 3.9%. Several factors have contributed to the historical growth of this industry, including economic development, industrialization, a surge of demand from the automotive industry, the expansion of the petrochemical industry, infrastructural enhancements, and global trade and transportation.

In the forthcoming years, the oil downstream products market is projected to experience consistent growth. The market is forecasted to expand to a size of $4167.86 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 4.5%. This projected growth during the forecast period can be attributed to several factors including the adoption of electric vehicles (EV), the shift towards renewable energy, the implementation of carbon capture and utilization, initiatives related to energy efficiency, and global trade dynamics. Notable trends expected to emerge during the forecast period are the increasing significance of biofuels and alternative fuels, increased investment in petrochemicals, emphasis on cleaner fuels, growth in refining capacities, the adoption of digital technology in downstream operations, and the formation of strategic alliances and partnerships.

Get A Free Sample Of The Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=3553&type=smp

What External And Internal Drivers Are Influencing The Oil Downstream Products Market?

Political instability and extremism leading to interruptions in oil supply in specific markets was a significant factor impacting the growth of the global oil downstream products market. Oil deliveries from key crude oil exporting countries like Libya, Iraq, Nigeria, and Columbia were being interrupted due to a volatile political environment and terror attacks on oil and gas wells and refining facilities, subsequently affecting market growth. For example, J.P. Morgan Wealth Management, a US-based firm, reported in April 2024, that the conflict between Russia and Ukraine greatly interrupted global oil deliveries, leading to a spike in prices and impacting supply chains, particularly in Europe, in 2022. Similarly, the conflict between Israel and Hamas in October 2023 raised doubts about the stability of oil supplies given the Middle East’s vital role in oil production. These geopolitical disputes illuminate the effect of political instability and extremism on the global oil downstream products market. Such interruptions not only influence the immediate regions but also have extensive implications on global supply chains and market trends.

What Is The Segment Breakdown Of The Oil Downstream Products Market?

The oil downstream productsmarket covered in this report is segmented –

1) By Type: Refined Petroleum Products, Asphalt, Lubricating Oil And Grease

2) By Fraction: Light Distillates, Middle Distillates, Heavy Oils

3) By Application: Fuel, Chemical, Other Applications

Subsegments:

1) By Refined Petroleum Products: Gasoline, Diesel, Jet Fuel, Kerosene, Heating Oil, Petrochemical Feedstocks

2) By Asphalt: Hot Mix Asphalt, Cutback Asphalt, Emulsified Asphalt, Other Asphalt Products

3) By Lubricating Oil And Grease: Engine Oils, Industrial Lubricants, Hydraulic Fluids, Gear Oils, Greases, Specialty Lubricants

How Are Global Trends Impacting The Development Of The Oil Downstream Products Market?

In a bid to lower pollution rates, businesses are turning to gas to liquid technology which yields premium petroleum-based products. This technique transforms natural gas into high-quality liquid substances like transportation fuels, engine lubricants, naphtha, diesel and waxes. Its use offers a cleaner burning alternative to crude oil, due to the natural gas it utilizes. Not only is natural gas bountiful and versatile, but it is also inexpensive. Minimal amounts of impurities are present in the by-products of GTL technology, which are colorless and devoid of odor. Companies such as Shell, Chevron and PetroSA are implementing this technology to create transportation fuels, oils and by-products used in the manufacturing of plastics, detergents and cosmetics.

Who Are The Major Stakeholders Operating In The Oil Downstream Products Market?

Major companies operating in the oil downstream products market include Saudi Arabian Oil Company, PetroChina Company Limited, Exxon Mobil Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation (Sinopec), Shell Chemical LP, Royal Dutch Shell, TotalEnergies SE, BP p.l.c., Chevron Corporation, Marathon Petroleum Corporation, Valero Energy Corporation, Phillips 66, Indian Oil Corporation Limited, Rosneft Oil Company, Reliance Industries Limited, Gazprom Neft, Bharat Petroleum Corporation Limited, The Dow Chemical Company, LyondellBasell Industries N.V., Hindustan Petroleum Corporation Limited, LUKOIL, HollyFrontier Corporation, PBF Energy Inc., Mangalore Refinery and Petrochemicals Limited, Chennai Petroleum Corporation Limited, Essar Oil Limited, Numaligarh Refinery Limited, Nayara Energy Limited, Bharat Oman Refineries Limited, Braskem S.A., Sasol Limited

Access The Complete Report Here:

https://www.thebusinessresearchcompany.com/report/oil-downstream-products-global-market-report

Which Region Is Likely To Register The Fastest Growth In The Oil Downstream Products Market?

Asia-Pacific was the largest region in the oil downstream products market in 2024. North America was the second largest region in the oil downstream products market. The regions covered in the oil downstream products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Customize Your Report Here:

https://www.thebusinessresearchcompany.com/customise?id=3553&type=smp

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 310-496-7795

Asia +44 7882 955267 & +91 8897263534

Europe +44 7882 955267

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model