The global oil downstream products market size is expected to grow from $2.54 trillion in 2021 to $2.88 trillion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The oil downstream product market is expected to reach $4.71 trillion in 2026 at a CAGR of 13.1%.
What is the Global Oil Downstream Products Market?
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.
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What drives the Global Oil Downstream Products Market?
Disruption in supply of oil in certain markets due to political instability and extremism was one of the major factors affecting the growth of global oil downstream activities market. Oil supplies from major crude oil exporters such as Libya, Iraq, Nigeria and Columbia were getting disrupted due to political instability and terrorist attacks on oil and gas wells and refineries, thus affecting the growth of the market. For instance, in December 2020, in a terrorist attack, explosives were used to set fire to two wells in a small oilfield in northern Iraq, thereby causing significant disruption to oil and gas supplies.
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Global Oil Downstream Products Market Segments
The global oil downstream products market is segmented:
By Type: Refined Petroleum Products, Asphalt, Lubricating Oil And Grease
By Fraction: Light Distillates, Middle Distillates, Heavy Oils
By Application: Fuel, Chemical, Others
By Geography: The regions covered in the oil downstream products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Oil Downstream Products Global Market Report 2022provides market size and growth forecasts for the global oil downstream products market, global oil downstream products market share, oil downstream products market segments and geographies, oil downstream products market competitive landscape including 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.
Global Oil Downstream Products Industry Playersinclude Royal Dutch Shell, BP plc, Exxon Mobil, Saudi Aramco, PJSC Lukoil, Chevron, Total SA, Marathon Petroleum Corporation, Valero Energy Corp, and Bharat Petroleum Corporation Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
