The new report by Expert Market Research titled, ‘Global Petroleum Liquid Feedstock Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global petroleum liquid feedstock market, assessing the market based on its segments like type and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.9%
The growth of global market for petroleum liquid feed stock is expected to be driven by the rising demand from end use applications. The rapid advancements in refining and petrochemical technologies are further projected to propel the market growth further. Moreover, the rapid expansion of transportation industry, is expected to push the demand further. Additionally, rising exploration activities for other petroleum reserves are anticipated to bolster the petroleum liquid feed stock market. However, the rising environment concerns for using fossil fuels and fluctuation in prices of crude oil may constrain the growth over the forecast period.
Petroleum Liquid Feedstock Industry Definition and Major Segments
Petroleum liquid feedstock refers to raw material utilised in distillation of fuel, diesel, industrial solvents, and gasoline
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Based on type, the market can be segmented into:
- Naptha
- Gasoil
The regional markets for petroleum liquid feedstock include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Petroleum Liquid Feedstock Market Trends
Regionally, North America is expected to dominate the global market for petroleum liquid. This can be attributed to growing of tight oil and shale gas production. Meanwhile, the Asia Pacific is expected to witness the fastest growth rate over the forecast period. The rising urbanisation and industrialisation in the developing economies such as China and India, may bolster the regional demand. Additionally, Middle East and Africa is anticipated to hold a significant growth owing to the presence of vast petroleum reserves.
Key Market Players
The major players in the market are BP Plc (LON: BP), Chevron Corp. (NYSE: CVX), Exxon Mobil Corp. (NYSE: XOM), Royal Dutch Shell Plc (AMS: RDSA), Saudi Arabian Oil Co., TOTAL S.A. (EPA: FP) and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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