China leads in Refining Industry Outlook in Asia and Oceania to 2023
Posted by Deevika on October 14th, 2019
Refining industry outlook in Asia and Oceania to 2023 gives gist of all active and planned refineries in Asia and Oceania, and reports crude oil refining industries’ details and projections till 2023. Interconnectedness between chemical and refining in feedstocks context has generated opportunities that can change and evolve end-market. Refining industry is progressing at good pace in Asia and Oceania on the backdrop of healthy demand and low feedstock prices. Refining industry is driven by various factors that include feedstock changes, feedstock choices, end-market disruption, globalizations, operational technology transformation and long-term sustainability. Oil price environment and increased primary feedstocks such as propane and ethane availability have adversely effected companies that display limited economies, lower flexibility for feedstock and higher energy, resulting in under performance. However, Companies such as Westlake chemical have sustained in market with their strong dealer network and strong hold in high growth market. An intelligence report titled, “Refining Industry Outlook in Asia and Oceania to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
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Hydrocracking capacity major influencer
China is expected to drive refining industry in Asia and Oceania to 2023 as it holds the major refining capacity of the region. Factors such as coking capacity, hydrocracking capacity and catalytic cracker capacity enhanced China’s growth and growing dominance in crude oil refining industry in Asia and Oceania. China owns 179 active crude oil refineries and 12 more are planned to be operated by 2023.
UAE has announced to investment in petrochemical projects in India which will boost Asian refining industry. India has gained prominence in refining industry ecosystem with its 5.33 million tons of emergency storage which attracts various international business stake holders. China and India constitute as the fastest growing petroleum product market on the pretext of growing petroleum consumption capacity.
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Refining industry outlook in Asia and Oceania to 2023: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Refining industry outlook in Asia and Oceania to 2023. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Refining industry outlook in Asia and Oceania to 2023. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Refining Industry Outlook in Asia and Oceania to 2023.
An insightful and deep-dive assessment of the competitive assessment of the Refining industry outlook in Asia and Oceania to 2023 pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Refining industry outlook in Asia and Oceania to 2023. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Refining industry outlook in Asia and Oceania to 2023: Research Methodology
Primary sources and secondary sources propel intelligence report on Refining industry outlook in Asia and Oceania to 2023 that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
Also See: Refining Industry, Industry Outlook, Planned Refineries, Crude Oil, Report, Refining, Outlook
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