Authored By: Sarah
16 Feb 2025

Petroleum Liquid Feedstock Market Size 2024-2028: Key Insights and Growth Projections

The petroleum liquid feedstock market is set to experience significant growth, with a projected increase of USD 77.22 billion at a CAGR of 4.5% between 2023 and 2028. This growth is driven by the expanding transportation sector, particularly the increasing demand for fuels. The market also benefits from the adoption of blockchain technology in the oil and gas refining industry, enhancing transparency and efficiency in operations. However, market growth faces challenges due to the volatility in global crude oil prices.

Global Petroleum Liquid Feedstock Market 2024-2028

For more details about the industry, get the PDF sample report for free

Market Segmentation

The petroleum liquid feedstock market can be analyzed through multiple segments, including type, application, and geography.

  1. Type

    • Naphtha
    • Gasoil
  2. Application

    • Industrial solvents
    • Cleaning fluids
    • Adulterant to petrol
    • Gasoline
    • Others
  3. Geography

    • North America
      • US
    • Europe
      • Germany
      • UK
    • APAC
      • China
      • India
    • South America
    • Middle East and Africa

By Type Insights

The naphtha segment is poised for significant growth. Derived from crude oil in the refining process, naphtha serves as a critical feedstock in the petrochemical industry, particularly for producing ethylene, synthetic rubber, high-octane gasoline, and aromatics. Naphtha is also used as marine fuel, motor vehicle fuel, and in the production of petrochemical products, including plastics and textiles. The growing focus on cleaner energy sources and the rise of unconventional crude oil deposits, such as shale gas and offshore drilling, contribute to the expansion of naphtha feedstock production.

Get more details by ordering the complete report

Market Dynamics

  • Drivers

The key driver of the petroleum liquid feedstock market is the rapid growth of the transportation sector. The increasing demand for fuels, particularly in the automotive industry, plays a significant role in expanding the consumption of petroleum liquid feedstocks. The petrochemical industry's growth, particularly in the production of polymers and synthetic rubber, also contributes to the demand for feedstocks like naphtha. Furthermore, the exploration of unconventional resources, such as shale gas, and the rise of biofuels and renewable feedstocks, support the growing demand.

  • Trends

The adoption of blockchain technology in the oil and gas refining industry is a notable trend. Blockchain's transparency and security features streamline operations, reduce costs, and improve efficiency in refining processes. Additionally, the shift towards cleaner energy sources, such as biofuels, renewable feedstocks, and LNG terminals, is reshaping the petrochemical industry. The use of data analytics in optimizing refinery operations is also an emerging trend.

  • Challenges

The volatility in global crude oil prices remains a major challenge for the market. Fluctuating crude oil prices affect the profitability of refineries and petrochemical plants, making it difficult for market players to maintain stability and profitability. Additionally, the increasing demand for cleaner energy sources and alternative feedstocks, such as biomass, waste oils, and carbon fiber, is posing challenges to traditional petroleum refineries.

Key Players

The market is competitive, with several key players implementing strategic moves to enhance their presence. These companies include:

  • BP Plc
  • CEF Group
  • Chevron Corp.
  • China National Petroleum Corp.
  • Eni SpA
  • Equinor ASA
  • Exxon Mobil Corp.
  • Gazprom Nedra LLC
  • Hindustan Petroleum Corp. Ltd.
  • Idemitsu Kosan Co. Ltd.
  • Koch Industries Inc.
  • Kuwait Petroleum Corp.
  • Nayara Energy Ltd.
  • Reliance Industries Ltd.
  • Rosneft Deutschland GmbH
  • Saudi Arabian Oil Co.
  • Shell plc
  • TotalEnergies SE
  • YPF SA

Recent developments include the increasing construction of new greenfield refineries to boost market growth in North America, particularly in response to the shale revolution and rising demand for traditional and alternative feedstocks.

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.