China Oil & Gas Downstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers China Oil & Gas Downstream Market Suppliers and it is segmented by Type (Refinery and Petrochemical Plants).

China Oil & Gas Downstream Market Size

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China Oil and Gas Downstream Market- Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 4.58 %

Major Players

China Oil and Gas Downstream Market

*Disclaimer: Major Players sorted in no particular order

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China Oil & Gas Downstream Market Analysis

The China oil and gas downstream market is expected to grow at a CAGR of over 4.58% during the forecast period of 2020- 2025. The taxation policies and development plans like increasing refining capacity and pipeline projects have been driving the downstream market. However, the volatile crude oil prices over the recent period and the continued switch to lower energy intensity in China and an increase in electric vehicle supplies are expected to hinder the growth of the oil and gas downstream market.

  • China leads the global oil refinery market, in terms of refining capacity. The region is expected to add about 3,721 million barrels per day (b/d) of new refining capacity in the next three years by adding new refineries.
  • The country's total refinery coking capacity, catalytic cracker capacity, and hydro-cracking capacity are expected to increase during the forecast period. The total coking capacity is expected to increase from 1991 mbd in 2018 to 2371 mbd in 2023.
  • As of 2019, China has a total of 179 active crude oil refineries and around 12 planned and announced refineries are expected to commence operations by 2023. The top three active refineries in China, in terms of the crude distillation unit capacity, are Maoming, Zhenhai, and Huizhou with 472 mbd, 462 mbd, and 440 mbd, respectively.
  • In December 2019, Russia's Gazprom opened the 'Power of Siberia' pipeline to China, to significant media and industry interest. The 8,100 kilometre long pipeline has been a substantial undertaking and will significantly impact China's gas market, providing up to 10% of China's entire gas supply by 2022.

China Oil & Gas Downstream Market Trends

This section covers the major market trends shaping the China Oil & Gas Downstream Market according to our research experts:

Refinery Capacity Expansion is Expected to Drive the Market

  • As of 2019, China has a total of 179 active crude oil refineries and around 12 planned and announced refineries are expected to commence operations by 2030.
  • Energy Demand Model provides a view of individual fuel demand growth within different demand sectors, in a country.
  • Strategy and planning support including fully integrated long-term scenarios with detailed supply, demand & pricing projections.
  • Digital technologies are already reducing refining costs and process losses, but the modernization of the sector is moving from a strategic choice to an imperative.
China Oil and Gas Downstream Marker: China's oil refinery capacity, 2010 - 2018

Increasing Demand for Petroleum Products

  • Petroleum products include gasoline, diesel fuel, jet fuel, unfinished oils, and other liquids such as fuel ethanol, blending components for gasoline, and other refinery inputs.
  • China's crude oil imports in September 2019, rose 10.8% from a year earlier as refiners ramped up output amid stable profit margins and solid fuel demand.
  • In 2020, China's net exports of gasoline are expected to average 375,000 b/d in the fourth quarter, up from an average of 330,000 b/d over the first three quarters
  • Therefore, factors such as increasing demand for petroleum products and the improvement in downstream infrastructure are expected to drive the downstream market.
China Oil and Gas Downstream Market: Consumption, in1000 barrels per day

China Oil & Gas Downstream Industry Overview

The China oil and gas downstream market is moderately fragmented. Some of the key players in this market include China National Petroleum Corporation, Shanghai Petrochemical Company Limited, Shell Energy (China) Limited, Chevron Corporation, Total SA.

China Oil & Gas Downstream Market Leaders

  1. China National Petroleum Corporation

  2. Sinopec Shanghai Petrochemical Company Limited

  3. Shell Energy (China) Limited

  4. Chevron Corporation

  5. Total SA

*Disclaimer: Major Players sorted in no particular order

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China Oil & Gas Downstream Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Refining Capacity and Forecast in million barrels per day, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Key Projects Information

    5. 4.5 Government Policies and Regulations

    6. 4.6 Investment Opportunities

    7. 4.7 Market Dynamics

      1. 4.7.1 Drivers

      2. 4.7.2 Restraints

    8. 4.8 Supply Chain Analysis

    9. 4.9 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Refinery

      2. 5.1.2 Petrochemical Plants

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 China National Petroleum Corporation

      2. 6.3.2 Sinopec Shanghai Petrochemical Company Limited

      3. 6.3.3 Shell Energy (China) Limited

      4. 6.3.4 Total SA

      5. 6.3.5 Chevron Corporation

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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China Oil & Gas Downstream Industry Segmentation

China oil and gas downstream market report include:

Type
Refinery
Petrochemical Plants
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China Oil & Gas Downstream Market Research FAQs

The China Oil and Gas Downstream Market is projected to register a CAGR of greater than 4.58% during the forecast period (2024-2029)

China National Petroleum Corporation , Sinopec Shanghai Petrochemical Company Limited , Shell Energy (China) Limited , Chevron Corporation and Total SA are the major companies operating in the China Oil and Gas Downstream Market.

The report covers the China Oil and Gas Downstream Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Oil and Gas Downstream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

China Oil & Gas Downstream Industry Report

Statistics for the 2024 China Oil & Gas Downstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Oil & Gas Downstream analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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China Oil & Gas Downstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)