Market Size of Australia Refined Petroleum Products Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Refined Petroleum Products Market Analysis
The Australian refined petroleum products market is expected to grow with a CAGR of around 2% during the forecast period. The COVID-19 pandemic has significantly impacted the market in the country due to the downfall in the demand for fuels like gasoline which is highly used in transportation, which got blocked during the lockdown, and the plummeted power demand where fuels are used to generate power. The two major drivers of the Australian refined petroleum products market are the extremely high power demand in communities in central Australia which can be immediately met by the fuel-driven power sector, and demand for marine fuels due to the steadily growing shipping industry. However, growing renewable energy in the country is expected to restrain the growth of the market
- Aviation fuels are expected to grow significantly during the forecast period, due to the fast-growing vehicle fleet in the region.
- The growing dimension of crude to chemical technology which eliminates the impact on the industry by shifting entirely away from petrol and diesel is expected to provide an opportunity for market players.
- The private sector's keen interest in investing in the refining sector especially the growing bio-refinery is expected to aid the growth of the market.
