Global Oil Downstream Products Market Trends And Strategies Of Major Players In The Oil Downstream Products Market 2021-2030
12 Feb, 2021
The oil downstream products market consists of sales of the post extraction activities for crude oil and natural gas by entities (organizations, sole traders or partnerships) that provide post extraction activities for crude oil and natural gas, including refined petroleum products manufacturing and asphalt, lubricating oil and grease manufacturing. The oil downstream products market is segmented into refined petroleum products and asphalt, lubricating oil and grease.
Global Oil Downstream Products Market Size And Drivers:
The global oil downstream products market is expected to grow from $2.04 trillion in 2020 to $2.53 trillion in 2021 at a compound annual growth rate (CAGR) of 24.1%. The market is expected to reach $3.18 trillion in 2025 at a CAGR of 6%. The oil downstream activities market was mainly driven by rapid growth in emerging markets in the historic period.
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Trends In The Global Oil Downstream Products Market
To reduce the pollution levels, companies have started adopting the gas to liquid technology which produce high quality petroleum products. The gas to liquid technology is the conversion of natural gas to high quality liquid products such as transportation fuels, motor oils, naphtha, diesel and waxes. This technology uses natural gas as a substitute to crude oil as gas and is considered to be the cleanest burning fossil fuel and is abundant, versatile and easily affordable. The by- products obtained by using the GTL technology are colorless, odorless and contain negligent amounts of impurities.
Global Oil Downstream Products Market Segments:
The global oil downstream products market is further segmented based on type and geography.
By Type: Refined Petroleum Products, Asphalt, Lubricating Oil And Grease.
Subsegments Covered: Diesel, Gasoline, Fuel Oil, Kerosene, Other Refined Petroleum Products, Asphalt, Other Petroleum Products.
By Geography: The global oil downstream products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global oil downstream products market, accounting for 30% of the total market.
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Oil Downstream Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides oil downstream products market overviews, analyzes and forecasts market size and growth for the global oil downstream products market, oil downstream products market share, oil downstream products market players, oil downstream products market segments and geographies, oil downstream products market’s leading competitors’ revenues, profiles and market shares. The oil downstream products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.