Crude Oil Refining Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The treatment of crude oil post extraction of the same to enhance the quality of the oil and its use-cases is known as crude oil refining. Some of the major impurities to be extracted form the raw crude oil includes color bodies, phosphatides, gummy substances, free fatty acids, tocopherols, sterols, and hydrocarbons amongst others.

MARKET DYNAMICS

The increasing number of both commercial and passenger vehicles on road across the globe is influencing the rise in demand for oil refineries across the globe thereby contributing to the growth of the market. Additionally, rising investment and initiatives by government bodies is further expected to augment the growth of the market over the forecast period.

MARKET SCOPE

The "Global Crude Oil Refining Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The crude oil refining market report aims to provide an overview of the crude oil refining market with detailed market segmentation by complexity type, application, and geography. The global crude oil refining market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading crude oil refining market player and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global crude oil refining market is segmented based on complexity type, application. Based on complexity type, the crude oil refining market is segmented into topping, hydro-skimming, conversion, deep conversion. Based on application, the crude oil refining market is segmented into transportation, petrochemical, plastic, food production, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global crude oil refining market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The crude oil refining market by each region is later sub-segmented by respective countries and segments. The crude oil refining market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the crude oil refining market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the crude oil refining market in these regions.

IMPACT OF COVID-19 ON CRUDE OIL REFINING MARKET

The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global crude oil refining market. The demand for oil and petrochemical products declined significantly from the industrial sector owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the crude oil refiners thereby impacting the growth of the global crude oil refining market from the supply side as well

MARKET PLAYERS

The reports cover key developments in the crude oil refining market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from crude oil refining market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the crude oil refining market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the crude oil refining market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Shell
  
•   Reliance Industries Limited.
  
•   China Petroleum & Chemical Corporation
  
•   bp p.l.c.
  
•   Exxon Mobil Corporation.
  
•   TotalEnergies
  
•   Chevron Corporation.
  
•   Marathon Petroleum Corporation
  
•   PJSC Sakhavostokneftegaz
  
•   Bharat Petroleum Corporation Limited.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Crude Oil Refining Report Scope