Carbon Capture And Storage (CCS) In Refineries: A Game-Changing Factor in the Refined Petroleum Products Market’s Future Growth

What is the current size and annual growth rate of the refined petroleum products market?  The refined petroleum products market size has grown steadily in recent years. It will grow from $2777.4 billion in 2024 to $2906.39 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the increased number of vehicles on the road, the increased demand from end-users, and the increased population.  The refined petroleum products market size is expected to see steady growth in the next few years. It will grow to $3429.93 billion in 2029 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising urbanization, growing demand for crude oil and gas, and increase in demand for electricity. Major trends in the forecast period include focusing on new facility expansions and expanding their production capacities, product innovations, increasing investments and mergers and acquisitions.  Get Your Free Sample of The Global Refined Petroleum Products Market Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=2903&type=smp  Which major factors have contributed to the expansion of the refined petroleum products market?  Refineries are increasingly adopting Carbon Capture and Storage techniques to reduce CO2 emission levels in the atmosphere. This technique involves trapping CO2 at its emission source and transporting it to a different storage location which is actively monitored and measured. This way CO2 is isolated from the atmosphere, thereby reducing emission levels. For instance, Quest, a partnership venture of Shell, Canada Energy, and Chevron is fully integrated CCS project that captures CO2 produced from refineries and prevents it from entering the atmosphere by storing it in underground formations. Globally there are about 15 large scale projects and 7 under construction projects with the capacity to capture about 40 million tones CO2 per annum, thus indicating the potential of CCS technology in minimizing carbon emissions. For Instance, some of the major companies adopting this technique include ExxonMobil, Port Arthur Refinery, Baytown Refinery, RasTanura Refinery, and Garyville Refinery.  How is the refined petroleum products market segmented? The refined petroleum products market covered in this report is segmented –  1) By Type: Diesel, Gasoline, Fuel Oil, Kerosene, Other Refined Petroleum Products 2) By Fraction: Light Distillates, Middle Distillates, Heavy Oils 3) By Refinery Type: Integrated Refined Petroleum Product, Non-Integrated Refined Petroleum Product 4) By Application: Fuel, Chemical, Other Applications  Subsegments: 1) By Diesel: Automotive Diesel, Marine Diesel, Industrial Diesel 2) By Gasoline: Regular Gasoline, Premium Gasoline, Ethanol-Blended Gasoline 3) By Fuel Oil: №1 Fuel Oil, №2 Fuel Oil, №4 Fuel Oil, №6 Fuel Oil 4) By Kerosene: Jet Fuel, Heating Kerosene, Lamp Kerosene 5) By Other Refined Petroleum Products: Liquefied Petroleum Gas (LPG), Naphtha, Asphalt, Petrochemical Feedstocks   Order your report now for swift delivery https://www.thebusinessresearchcompany.com/report/refined-petroleum-products-global-market-report  Who are the top competitors in the refined petroleum products market?  Major companies operating in the refined petroleum products market include Saudi Aramco, Exxon Mobil, Chevron, Valero Energy Corp, Marathon Petroleum Corporation, Total SA, PJSC Lukoil, BP Plc, Royal Dutch Shell, Petroleo Brasileiro SA Petrobras, Orlen Południe S A, Freudenberg & Co. Kommanditgesellschaft, Consumers’ Co-operative Refineries Limited, YPF, TechnipFMC, China National Petroleum Corporation, Ecopetrol, Unipec U.K. Co. Limited, IKO Industries Ltd, Inpex Corporation, Sinopec, GTI Statia Terminals N.V., National Iranian Oil Company, Suncor Energy Inc, Shaanxi Yanchang Petroleum, ArcelorMittal Poland S A, PDVSA, Sinochem Group, China National Offshore Oil Corporation, Kuwait Petroleum Corporation, Eneos Holdings, Reliance Petroleum Ltd, Sasol Oil, Phillips 66(US), PetroSA, Engen Petroleum, Baker Hughes, Indian Oil Corporation Limited, Abu Dhabi National Oil Company, Oil and Natural Gas Corporation, Cenovus Energy Inc, Astron Energy, Global Oil Engineering AG, Polski Koncern Naftowy Orlen S A, Subsea 7  Which key trends are expected to influence the refined petroleum products market in the coming years?  To reduce the pollution levels, companies have started adopting gas-to-liquid technology, which produces high-quality petroleum products. Gas to liquid technology is the conversion of natural gas to high quality liquid products such as transportation fuels, motor oils, naphtha, diesel, and waxes. This technology uses natural gas as a substitute for crude oil as gas is the cleanest burning fossil fuel and is abundant, versatile, and easily affordable. The by- products obtained by using the GTL technology are colorless, odorless, and contain negligent amounts of impurities. For Instance, Shell, Chevron, and PetroSA have adopted this technology to produce transportation fuels, oils, and by-products to produce plastics, detergents, and cosmetics.  Which regional trends are influencing the refined petroleum products market, and which area dominates the industry?  The countries covered in the refined petroleum products market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa  What Does The Refined Petroleum Products Market Report 2025 Offer?  The refined petroleum products market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.  The refined petroleum products are derived by refining petroleum. The refined petroleum products have different physical and chemical properties depending on the kind of crude oil and subsequent refining procedures.  Purchase the exclusive report now to unlock valuable market insights: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2903  About The Business Research Company With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. 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