The global refined petroleum product market is expected to grow at a staggering CAGR in the forecast period. The global demand for refined petroleum products is expected to remain critical in the U.S. and the other industrialized countries. Rising levels of oil consumption augments the potential for economic and national security concerns.
The driving factors for refined petroleum products market include demand for petroleum and oil products by developing countries and increase in oil exports. Apart, rise in use of diesel and petrol for automotive and industrial purpose is likely to result in a significant market share. In addition, the market influencers such as low oil price in the medium and short term in several countries leads to balance of supply and demand for oil and related products in the long term. The global economic growth has bolstered since 2017 due to the effects of Brexit policy.
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Product segmentation for refined petroleum product market comprises petroleum oil, bituminous mineral oil, liquefied butanes, liquefied propane, paraffin wax, petroleum jelly, calcined petroleum cake, petroleum bitumen, and mineral waxes. Application segment for refined petroleum product market includes chemicals and fuel.
Geographical segmentation for refined petroleum product market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America, South America and Middle East and African regions hold a prominent position in the global market due to presence of salt layers, geopolitical factors and an unprecedented opportunity for market growth. Climatic features and availability of alternative fuel sources and oil & energy trends are influential in these regions.
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Asia-Pacific regions have displayed substantial market growth due to extensive demand and rise in industrial units. The growth scenario is expected to remain robust and the regions are accounting for a remarkable share in terms of global demand for oil. The key players in the refined petroleum product market include Essar, Total, Shell, JX, Shandong Dongming Petrochemical Group, Shanxi Yanchang Petroleum, TonenGeneral Group, Chambroad Petrochemical, Idemitsu, Singapore Petroleum Company, WEPEC and Chem China.
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The driving factors for refined petroleum products market include demand for petroleum and oil products by developing countries and increase in oil exports. Apart, rise in use of diesel and petrol for automotive and industrial purpose is likely to result in a significant market share. In addition, the market influencers such as low oil price in the medium and short term in several countries leads to balance of supply and demand for oil and related products in the long term. The global economic growth has bolstered since 2017 due to the effects of Brexit policy.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-refined-petroleum-product-market-2021/request-sample
Product segmentation for refined petroleum product market comprises petroleum oil, bituminous mineral oil, liquefied butanes, liquefied propane, paraffin wax, petroleum jelly, calcined petroleum cake, petroleum bitumen, and mineral waxes. Application segment for refined petroleum product market includes chemicals and fuel.
Geographical segmentation for refined petroleum product market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America, South America and Middle East and African regions hold a prominent position in the global market due to presence of salt layers, geopolitical factors and an unprecedented opportunity for market growth. Climatic features and availability of alternative fuel sources and oil & energy trends are influential in these regions.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-refined-petroleum-product-market-2021
Asia-Pacific regions have displayed substantial market growth due to extensive demand and rise in industrial units. The growth scenario is expected to remain robust and the regions are accounting for a remarkable share in terms of global demand for oil. The key players in the refined petroleum product market include Essar, Total, Shell, JX, Shandong Dongming Petrochemical Group, Shanxi Yanchang Petroleum, TonenGeneral Group, Chambroad Petrochemical, Idemitsu, Singapore Petroleum Company, WEPEC and Chem China.
Read all Reports of this category @ https://www.radiantinsights.com/catalog/petroleum
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
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