Market Size of North Africa Refined Petroleum Products Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North Africa Refined Petroleum Products Market Analysis
The refined petroleum products consumption in Africa is expected to grow at a CAGR of 2.1% during the forecast period. Factors such as increasing refining throughput capacity in countries like Egypt, Algeria, and others are driving the consumption of refined products. An increase in electricity generation from natural gas and oil is also creating significant demand for refined products in North African countries. On the other hand, with an increasing share of renewables and increasing efforts to curb the carbon emission, growth is expected to be restrained in the forecast period.
- Middle distillate oil products are expected to dominate the market in the forecast period owing to the demand in different sectors like power generation, transportation, and others.
- North Africa had more than 65 thousand million barrels of proved oil reserves. With future production of oil, several opportunities in the refinery sector and refined products can be expected in the North African region.
- Egypt is the dominating country in the refined petroleum products with a one-fifth share in oil product consumption in the region as of 2018.
