Oil & Petroleum Refining in China - Industry Market Research Report

Oil & Petroleum Refining in China - Industry Market Research Report

Oil & Petroleum Refining in China

Several sectors in China, including the energy, machinery manufacturing, electricity, chemicals and metallurgy sectors, have gradually reached overcapacity in recent years. As a result, demand for crude oil and finished oils, including heating oil and diesel fuel, has fluctuated over the past five years. At the same time, with the improvement of refining capacity, China's domestic refined oil market has gradually oversupply. Crude oil price was largely increase since 2021. Industry revenue is expected to increase at an annualized 2.8% over the five years through 2023, to an estimated $853.0 billion. This trend includes a rise of 0.7% in the current year.

The industry refines oils and produces petroleum products. Its major products include gasoline, diesel oil, coal oil, fuel oil, lubricating oil, lube oil base stock, naphtha, solvent oil, petroleum asphalt, petroleum coke, gaseous propellant, paraffin and petroleum resin.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.