1. Market Research
  2. > Automotive
  3. > Motor Vehicle
  4. > Electric Vehicle Market Trends
Opportunities and Trends in the Global Refining Market, Forecast to 2023

Opportunities and Trends in the Global Refining Market, Forecast to 2023

  • January 2020
  • 42 pages
  • ID: 5843721
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

The global refining market is characterised by a high demand for petrochemicals and fuels for automobiles, which will keep the market growing for the next decade.Expanding population, increasing affordability, higher automobile penetration, lower oil prices, and increasing investments by companies in the developing regions of the world will aid in new refinery construction and upgrade of old facilities.

Increasing automobile penetration will drive the demand for gasoline and diesel, mainly in Asia and Africa, which drives the need to expand refinery capacity to cater to expanding demand.Asia is expected to be the key hub for refinery expansion, as the region invests heavily in new capacities and upgrading old ones to meet domestic demand and take advantage of export opportunities. China and the Middle East are expected to lead the way for refinery expansion, followed by India and Southeast Asia. These regions are expected to drive global growth, as they add more consumers to the market, which will drive demand for oil-based products.Satisfying domestic demand is a key concern for most countries, as demand exceeds supply in many developing regions, especially in the Middle East, where countries and companies are focusing more on downstream activities after years of focus on upstream. Middle Eastern companies are also looking at other geographies to invest in new refinery capacity, as they are keen to tap into growing global demand for petrochemical products. South and Southeast Asia and Africa will be key beneficiaries of such Middle Eastern investments.Africa will see the highest growth in refinery expansion on the back of a low base, as the region tries to move away from imports and be self-sufficient. Many such refinery programs are expected to get strong local government support in Africa. North America will see large expansion and upgrade programs, as it tries to accommodate more shale oil in its refineries and also cater to export markets of Europe and Asia. Russia and CIS are expanding refineries to cater to the main export market of Europe and Asia. The market will see headwinds in the form of increased penetration of electric vehicles (EVs), which will decrease fuel demand as well as pollution concerns, which will see a shift away from diesel and other polluting fuels. Many countries and cities are expected to completely eliminate or limit fossil fuel vehicles and replace them with EVs. The move toward stricter emission requirements for diesel gensets is expected to lead to the installation of more gas-based gensets. Increasing usage of biodiesel and alternative types of fuel will impact oil consumption, as countries move toward more green fuels. The analyst expects the market to grow from 99.7 million barrels per day in 2018 to nearly 106.5 million barrels per day in 2023, at a CAGR of 1.3%.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on