According to the research report titled ‘Global Petroleum Refining Products Market - Analysis By Refining Product, End-User, By Region, By Country: Market Insights and Outlook Post Covid-19 Pandemic (2020-2025)’, available with Market Study Report, global petroleum refining products market which was valued at USD 6,746.37 million and reached a volume of 98,272 thousand barrels/day in 2019, is anticipated to accrue exponential growth during 2020-2025.
 

Development of brown-field and green-field petroleum refineries and capacity expansion of existing refineries are the key factors driving the growth of global petroleum refining products market. Moreover, growing investments towards refurbishment and upgradation of existing refinery facilities is likely to propel the market growth in coming years. For example, Saudi Aramco invested USD 44 billion in April 2018 for construction of integrated refinery & petrochemical complex in India.
 

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Emphasis towards decreasing the dependency on petroleum import is likely to surge the growth of petroleum refining product market. Growing demand of petro-products, increasing population, and escalating on-road vehicles are other factors augmenting the market outlook.
 

Based on end-user spectrum, global petroleum refining products industry is segmented into transportation and others. With respect to the product terrain, the industry is classified into gasoline, ethane & LPG, diesel/gasoil, naphtha, jet/kerosene, fuel oil, and others.
 

From regional frame of reference, the industry is segmented into North America, Asia Pacific, Europe, and LAMEA. Asia Pacific petroleum refining products market held 36.8% share in 2019 and is estimated to showcase robust growth during the forecast period, mainly due to upcoming major refinery projects in China and India.
 

Key players operating in global petroleum refining products market are Chevron Corporation, Royal Dutch Shell, BP Plc, ConocoPhillips, SK Innovation, China National Petroleum Corporation, ExxonMobil, Total SA, and S-Oil Corp.