• 出版社/出版日：Mordor Intelligence / 2019年7月
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The global refining capacity is expected to register a CAGR of around 1.1% during 2018-2024. In the quest for diversifying the industrial sector, the oil & gas downstream industry has become one of the major focus areas among developed and developing nations, globally. However, the refining market is restrained by factors such as lack of funds, delay in commissioning projects, and acquiring lands.
Traditionally, the West had been the major market for EPC contracts in the downstream sector. The demand for gasoline from OECD countries is expected to remain subdued due to the increasing fuel efficiency and biofuel consumption.
The global energy demand is anticipated to grow by a triple in the next two decades. This growth in demand can be attributed to the growing world population and an improvement in living standards in developing countries. Even though the new and renewable energy sources are gaining popularity around the world, refined fuel remains a major energy source globally.
Saudi Arabia is planning to transform its economy from a decade-long reliance on crude oil. It expects petrochemical to be the factor in diversifying its economy. Saudi Aramco, Saudi Arabia’s largest oil and gas operator, is working on more than USD 100 billion of refining and chemical projects. Its recent investment of USD 10 billion with Total SA is the latest step in the country’s diversification plan.
Key Market Trends
Expansion in Downstream Infrastructure
The demand for oil as fuel in the transportation sector is likely to maintain its momentum in the short term. The recovery in oil consumption growth, driven by lower oil prices, supported the momentum.
As of 2018, there were above 470 planned and announced petrochemical plants, out of which China is expected to have 240 plants with a total capacity of around 100 MTPA by 2026. The capital expenditure for the projects in China accounted for about USD 52 billion.
In the United States, there are above 95 planned and announced projects, which are expected to have a total capacity of up to 63 MTPA by 2026. The CAPEX for these projects stands at around USD 53 billion. Major capacity additions in the country are likely to be initiated by IGP Methanol LLC and NW Innovation Works.
Asia-Pacific to Dominate the Market
China is expected to account for the major growth in crude oil refining between 2018 and 2023 in Asia-Pacific (APAC). The country is expected to account for 44%, an increase of 4% from 2017, of the refining capacity in APAC by 2023.
Also, India’s refining capacity has witnessed a CAGR of 3.0% between 2012 and 2017. As of August 2018, India Oil Corp., India’s largest refining company, aimed to increase its refining capacity from 80.7 million metric ton per annum to 150 million metric ton per annum by 2030. Projects worth INR 320 billion are in various stages of execution.
South-east Asia is witnessing the commissioning of a number of refinery projects including the expansion of existing ones and developing new ones to reduce the dependency on imports.
The global refining market is highly fragmented with key players such as Exxon Mobil Corporation, Royal Dutch Shell Plc, Sinopec, BP plc, Saudi Aramco, Valero Energy Corporation, Petróleos de Venezuela SA, China National Petroleum Corporation, Chevron Corporation, Rosneft, and Total SA.
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1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Refining Capacity Forecast, till 2024
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Industry Supply Chain Analysis
4.7 Porter’s Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 North America
5.1.4 Middle East and Africa
5.1.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Exxon Mobil Corporation
6.3.2 Royal Dutch Shell Plc
6.3.4 BP plc
6.3.5 Saudi Aramco
6.3.6 Valero Energy Corporation
6.3.7 Petroleos de Venezuela SA
6.3.8 China National Petroleum Corporation
6.3.9 Chevron Corporation
6.3.11 Total SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS