Global Oil Refining Market Outlook - Market Analysis by Geography, By Refinery Complexity (Topping, Hydroskimming, Cracking, Coking), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 127 | Published By - Mordor Intelligence

Report Highlights

The global energy demand is predicted to grow by 50% - 60% in the coming 15 years. This growth in demand is a result of increasing world population and an improvement in living standards in developing countries. Even though new and renewable energy sources are gaining popularity around the world, petroleum fuels still remain the major energy source the world over. This trend is expected to continue for the next few decades, and will have all sectors of the petroleum industry as its beneficiaries.

The oil that is extracted from the earth undergoes a number of processes that transforms the crude oil into various useful products such as petrol, diesel, jet fuel, kerosene etc. These processes are carried out by refineries having varying degrees of complexity. Refineries are classified as topping, hydroskimming, cracking and coking refineries based on their complexity. Refining forms a major activity of the downstream petroleum industry.

The refining industry has been affected by falling crude oil prices. Players in the Asian and European markets are seeing higher margins while the North American players are seeing a reduction in their margins. The transportation industry, which is the biggest consumer of oil worldwide is witnessing a growth, especially in developing countries like China and India. This is a boost for the refining industry, which is showing particular growth in these developing regions. The growing popularity of biofuels and the increasing fuel efficiency of vehicles are also hampering the petroleum refining industry. Large state-owned and private companies control this industry. Some of the key players in this market are Exxon Mobil Corporation, Shell, Sinopec, BP and Saudi Aramco.

The report comprehensively analyzes the global oil refining market and identifies key drivers and restraints. A region specific assessment has been carried out and the prospects of the market in each region has been detailed. The extensively researched competition analysis section details the key players who can influence the global and regional markets. The profiles of these key companies include an analysis of their market share, key financial information and an analysis of their current strategic interests.
 

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