Global Oil Downstream Activities Market Is Expected To Grow To USD 2.8 Trillion

Posted by sainath on July 20th, 2018

Anticipated stability in the crude oil prices and increasing demand for refined petroleum from developing nations is expected to drive the market in the future.

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The substantial reason for the growth of the oil downstream activities market from USD 2.3 trillion in 2017 to USD 2.8 trillion by 2021is that the 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.

Asia Pacific was the largest region in the oil downstream activities market in 2017, accounting for more than one-third of the market share.

The oil downstream activities market is segmented into refined petroleum products manufacturing and asphalt, lubricating oil and grease manufacturing segments.

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The USA was the largest country in the oil downstream activities market in 2017, accounting for one-sixth of the market share. The USA’s large population and high number of industries contributed to the country’s high consumption of refined petroleum. The USA was followed by China and India.

The top five competitors in the market made up 32.0% of the total market share in 2017.             Royal Dutch Shell was the largest competitor, followed by Exxon Mobil Corporation, China Petroleum & Chemical Corporation, BP Plc and Chevron. Royal Dutch Shell is a British–Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom. It is one of the six oil and gas "supermajors" and the sixth-largest company in the world.

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