Global Oil Refining Market is Expected to Reach USD 2,363.31 BN By Forecast Year 2028

November 03 02:42 2021
Global Oil Refining Market is Expected to Reach USD 2,363.31 BN By Forecast Year 2028
Oil Refining Market Data And Industry Growth Analysis | Stratistics Market Research Consulting
Oil Refining Market Forecasts to 2028 – Global Analysis By Product (Middle Distillates, Fuel Oil), Complexity (Conversion, Topping), Application (Aviation, Rail & Domestic Waterways, Transportation) and By Geography

The Global Oil Refining Market is accounted for $1,345.00 billion in 2020 and is expected to reach $2,363.31 billion by 2028 growing at a CAGR of 7.3% during the forecast period. Upgrading of refineries to fulfill the growing petroleum product demand, rapid industrialization and urbanization and the demand for gasoline and gas oil are driving the market growth. However, increasing acceptance of clean fuel is hampering the growth of the market. 

Some of the key players profiled in the Oil Refining Market include Sinopec Corporation, China National Petroleum Corporation, ExxonMobil Corporation, Chevron Corporation, Marathon Petroleum Corporation, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Valero Energy Corporation, Kuwait National Petroleum Company, Abu Dhabi National Oil Company, The Phillips 66 Company and PBF Energy Inc.

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Products Covered:• Middle Distillates• Fuel Oil• Light Distillates   

Complexities Covered:• Deep Conversion• Hydro-Skimming• Conversion• Topping

Fuels Covered:• Gasoil• Liquefied Petroleum Gas (LPG)• Gasoline• Kerosene

Applications Covered:• Aviation• Rail & Domestic Waterways• Transportation• Petrochemical• Agriculture• Marine Bunker• Residential & Commercial• Electricity

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