Global Oil Refining
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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"Global Oil Refining market size 2025 is $1795.3 Billion whereas according out published study it will reach to $2475.96 Billion by 2033. Oil Refining market will be growing at a CAGR of 4.1% during 2025 to 2033."
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, North America market holds 26.70% of the market share. The North America Oil Refining industry grew from 420.404 Billion USD in 2021 to 479.345 Billion USD in 2025 and will record 87.70% growth. In coming future this industry will reach 638.797 Billion by 2033 with a 3.655% CAGR. If we look at the percentage market shares of top North America countries for 2025,United States (76.66%), Canada (13.64%), Mexico (9.70%)
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, Europe market holds 20.50% of the market share. The Europe Oil Refining industry grew from 322.564 Billion USD in 2021 to 368.037 Billion USD in 2025 and will record 87.64% growth. In coming future this industry will reach 500.143 Billion by 2033 with a 3.908% CAGR. If we look at the percentage market shares of top Europe countries for 2025,United Kingdom (10.30%), Germany (20.40%), France (10.70%), Italy (5.30%), Russia (12.20%), Spain (6.30%), Sweden (4.70%), Denmark (4.50%), Switzerland (3.90%), Luxembourg (2.70%), Rest of Europe (19.00%)
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, Asia Pacific market holds 36.20% of the market share. The Asia Pacific Oil Refining industry grew from 550.347 Billion USD in 2021 to 649.899 Billion USD in 2025 and will record 84.68% growth. In coming future this industry will reach 940.863 Billion by 2033 with a 4.733% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,China (38.10%), Japan (11.36%), India (17.60%), South Korea (5.30%), Australia (2.23%), Singapore (2.70%), South East Asia (15.27%), Taiwan (2.90%), Rest of APAC (4.54%)
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, South America market holds 7.00% of the market share. The South America Oil Refining industry grew from 91.725 Billion USD in 2021 to 125.671 Billion USD in 2025 and will record 72.99% growth. In coming future this industry will reach 175.793 Billion by 2033 with a 4.285% CAGR. If we look at the percentage market shares of top South America countries for 2025,Brazil (34.50%), Argentina (11.60%), Colombia (8.00%), Peru (4.40%), Chile (3.90%), Rest of South America (37.60%)
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, Middle East market holds 5.10% of the market share. The Middle East Oil Refining industry grew from 77.966 Billion USD in 2021 to 91.56 Billion USD in 2025 and will record 85.15% growth. In coming future this industry will reach 113.894 Billion by 2033 with a 2.766% CAGR. If we look at the percentage market shares of top Middle East countries for 2025,Saudi Arabia (40.70%), Turkey (23.10%), UAE (10.66%), Egypt (10.40%), Qatar (7.94%), Rest of Middle East (7.20%)
As per the current market study, out of 1795.3 Billion USD global market revenue 2025, Africa market holds 4.50% of the market share. The Africa Oil Refining industry grew from 65.736 Billion USD in 2021 to 80.789 Billion USD in 2025 and will record 81.37% growth. In coming future this industry will reach 106.466 Billion by 2033 with a 3.51% CAGR. If we look at the percentage market shares of top Africa countries for 2025,Nigeria (24.50%), South Africa (41.80%), Rest of Africa (33.70%)
2021 | 2025 | 2033 | CAGR | |
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Global Oil Refining Market Sales Revenue | $ 1528.74 Billion | $ 1795.3 Billion | $ 2475.96 Billion | 4.1% |
North America Oil Refining Market Sales Revenue | $ 420.404 Billion | $ 479.345 Billion | $ 638.797 Billion | 3.655% |
United States Oil Refining Market Sales Revenue | $ 323.963 Billion | $ 367.466 Billion | $ 486.507 Billion | 3.57% |
Canada Oil Refining Market Sales Revenue | $ 56.502 Billion | $ 65.383 Billion | $ 89.687 Billion | 4.03% |
Mexico Oil Refining Market Sales Revenue | $ 39.938 Billion | $ 46.496 Billion | $ 62.602 Billion | 3.788% |
Europe Oil Refining Market Sales Revenue | $ 322.564 Billion | $ 368.037 Billion | $ 500.143 Billion | 3.908% |
United Kingdom Oil Refining Market Sales Revenue | $ 32.579 Billion | $ 37.908 Billion | $ 52.515 Billion | 4.158% |
Germany Oil Refining Market Sales Revenue | $ 64.19 Billion | $ 75.079 Billion | $ 105.03 Billion | 4.286% |
France Oil Refining Market Sales Revenue | $ 35.482 Billion | $ 39.38 Billion | $ 51.015 Billion | 3.289% |
Italy Oil Refining Market Sales Revenue | $ 18.386 Billion | $ 19.506 Billion | $ 24.007 Billion | 2.629% |
Russia Oil Refining Market Sales Revenue | $ 40.643 Billion | $ 44.9 Billion | $ 59.017 Billion | 3.476% |
Spain Oil Refining Market Sales Revenue | $ 21.289 Billion | $ 23.186 Billion | $ 31.009 Billion | 3.701% |
Sweden Oil Refining Market Sales Revenue | $ 15.806 Billion | $ 17.298 Billion | $ 22.156 Billion | 3.143% |
Denmark Oil Refining Market Sales Revenue | $ 14.838 Billion | $ 16.562 Billion | $ 22.006 Billion | 3.617% |
Switzerland Oil Refining Market Sales Revenue | $ 13.225 Billion | $ 14.353 Billion | $ 18.505 Billion | 3.227% |
Luxembourg Oil Refining Market Sales Revenue | $ 9.354 Billion | $ 9.937 Billion | $ 13.004 Billion | 3.419% |
Rest of Europe Oil Refining Market Sales Revenue | $ 56.771 Billion | $ 69.927 Billion | $ 101.879 Billion | 4.817% |
Asia Pacific Oil Refining Market Sales Revenue | $ 550.347 Billion | $ 649.899 Billion | $ 940.863 Billion | 4.733% |
China Oil Refining Market Sales Revenue | $ 209.682 Billion | $ 247.611 Billion | $ 373.523 Billion | 5.273% |
Japan Oil Refining Market Sales Revenue | $ 64.721 Billion | $ 73.828 Billion | $ 103.119 Billion | 4.265% |
India Oil Refining Market Sales Revenue | $ 93.559 Billion | $ 114.382 Billion | $ 172.178 Billion | 5.245% |
South Korea Oil Refining Market Sales Revenue | $ 31.92 Billion | $ 34.445 Billion | $ 45.161 Billion | 3.444% |
Australia Oil Refining Market Sales Revenue | $ 13.373 Billion | $ 14.493 Billion | $ 19.1 Billion | 3.51% |
Singapore Oil Refining Market Sales Revenue | $ 15.96 Billion | $ 17.547 Billion | $ 23.522 Billion | 3.731% |
South East Asia Oil Refining Market Sales Revenue | $ 82.937 Billion | $ 99.24 Billion | $ 135.861 Billion | 4.004% |
Taiwan Oil Refining Market Sales Revenue | $ 17.061 Billion | $ 18.847 Billion | $ 25.403 Billion | 3.802% |
Rest of APAC Oil Refining Market Sales Revenue | $ 21.133 Billion | $ 29.505 Billion | $ 42.997 Billion | 4.82% |
South America Oil Refining Market Sales Revenue | $ 91.725 Billion | $ 125.671 Billion | $ 175.793 Billion | 4.285% |
Brazil Oil Refining Market Sales Revenue | $ 31.37 Billion | $ 43.356 Billion | $ 61.527 Billion | 4.472% |
Argentina Oil Refining Market Sales Revenue | $ 10.915 Billion | $ 14.578 Billion | $ 19.618 Billion | 3.782% |
Colombia Oil Refining Market Sales Revenue | $ 7.246 Billion | $ 10.054 Billion | $ 14.239 Billion | 4.447% |
Peru Oil Refining Market Sales Revenue | $ 4.219 Billion | $ 5.53 Billion | $ 7.383 Billion | 3.68% |
Chile Oil Refining Market Sales Revenue | $ 3.761 Billion | $ 4.901 Billion | $ 6.68 Billion | 3.947% |
Rest of South America Oil Refining Market Sales Revenue | $ 34.213 Billion | $ 47.252 Billion | $ 66.344 Billion | 4.333% |
Middle East Oil Refining Market Sales Revenue | $ 77.966 Billion | $ 91.56 Billion | $ 113.894 Billion | 2.766% |
Saudi Arabia Oil Refining Market Sales Revenue | $ 31.342 Billion | $ 37.265 Billion | $ 46.218 Billion | 2.728% |
Turkey Oil Refining Market Sales Revenue | $ 18.322 Billion | $ 21.15 Billion | $ 25.968 Billion | 2.598% |
UAE Oil Refining Market Sales Revenue | $ 8.233 Billion | $ 9.76 Billion | $ 12.528 Billion | 3.17% |
Egypt Oil Refining Market Sales Revenue | $ 7.953 Billion | $ 9.522 Billion | $ 12.073 Billion | 3.011% |
Qatar Oil Refining Market Sales Revenue | $ 5.957 Billion | $ 7.27 Billion | $ 9.157 Billion | 2.927% |
Rest of Middle East Oil Refining Market Sales Revenue | $ 6.159 Billion | $ 6.592 Billion | $ 7.95 Billion | 2.368% |
Africa Oil Refining Market Sales Revenue | $ 65.736 Billion | $ 80.789 Billion | $ 106.466 Billion | 3.51% |
Nigeria Oil Refining Market Sales Revenue | $ 15.974 Billion | $ 19.793 Billion | $ 26.51 Billion | 3.72% |
South Africa Oil Refining Market Sales Revenue | $ 27.741 Billion | $ 33.77 Billion | $ 43.97 Billion | 3.355% |
Rest of Africa Oil Refining Market Sales Revenue | $ 22.022 Billion | $ 27.226 Billion | $ 35.986 Billion | 3.548% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Complexity Type |
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Market Split by Fuel Type |
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Market Split by End-user |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Oil Refining industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Oil Refining Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Market Dynamics such as Drivers, Restraints, Opportunities, Trends data
Market dynamics is the key parameter of the report study. The Chemical Industry is influenced by positive as well as negative factors, including raw material availability, regulatory changes, economic conditions, and others. Moreover, environmental and safety regulations are important in shaping the chemical industry.
In this chapter, we have included a detailed analysis of drivers, restraints, opportunities and technological roadmap for Oil Refining Market. Global Oil Refining market dynamics can have a significant impact on the production, pricing, and distribution of chemicals. This analysis also helps businesses operating in the chemical industry to understand the current market conditions, technological advancement along with environmental and safety regulations.
We have various report editions of Oil Refining Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Chemical and materials companies are facing some challenges including stringent rules & regulation, supply chain disruption along with raw material price volatility. Thus, some of the key players are adopting new technologies to enhance their product portfolio. Now days digital technologies play an important role in this sector because it improves efficiency, operations and productivity of the plant. This study helps you to understand the competitor’s revenue generation, key strategies, recent development coupled with its S.W.O.T analysis.
Top Companies Market Share in Oil Refining Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
The regional analysis offers Oil Refining market size, share and a detailed analysis for each region. This quantitative as well as qualitative information is crucial for new entrants along with companies operating in Oil Refining market . Oil Refining market production and consumption can vary significantly from one region to another owing to factors such as, the availability of raw materials, regulatory environments, and others.
The current report Scope analyzes Oil Refining Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Oil Refining Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Oil Refining Industry growth. Oil Refining market has been segmented with the help of its Complexity Type, Fuel Type End-user, and others. Oil Refining market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2021 to 2033. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.
Complexity Type of Oil Refining analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Oil Refining Industry. Request a Free Sample PDF!
Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Oil Refining Market.
Some of the key Fuel Type of Oil Refining are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Analyst at Cognitive Market Research
Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.
Ashwini Moharir is a market research professional with over 2 years of hands-on experience in delivering strategic insights and data-driven analysis across the healthcare and food & beverage sectors. She specializes in gathering and interpreting market data to support business decisions, product development, and competitive positioning.
With a foundation in teaching and research & development, Ashwini brings a well-rounded perspective that enhances her approach to market analysis. Her ability to combine academic rigor with practical industry knowledge allows her to uncover deeper insights and provide actionable recommendation.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Oil Refining Market is witnessing significant growth in the near future.
In 2023, the Topping segment accounted for noticeable share of global Oil Refining Market and is projected to experience significant growth in the near future.
The Gasoline segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies China National Petroleum Corporation , Petroleos De Venezuela and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
An oil refinery is a type of industrial structure that transforms crude oil into a variety of useful items. An oil refinery is also known as a petroleum refinery.
Disclaimer:
Complexity Type | Topping, Conversion, Deep Conversion |
Fuel Type | Gasoline, Gasoil, Kerosene, LPG, Others |
End-user | Transportation, Aviation, Marine Bunker, Petrochemical, Residential & Commercial, Agriculture, Electricity Generation, Others |
List of Competitors | China National Petroleum Corporation, Reliance Industries Limited, Petroleos De Venezuela, Royal Dutch Shell Plc, Exxonmobil Corporation, Marathon Petroleum Corporation, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Chevron Corporation, PJSC Lukoil Oil Company, BP Plc, Others |
This chapter will help you gain GLOBAL Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review Global Oil Refining Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review North America Oil Refining Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review Europe Oil Refining Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review Asia Pacific Oil Refining Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review South America Oil Refining Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review Middle East Oil Refining Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Oil Refining. Further deep in this chapter, you will be able to review Middle East Oil Refining Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Oil Refining. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Complexity Type Analysis 2019 -2031, will provide market size split by Complexity Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Complexity Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Fuel Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End-user Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Oil Refining market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why Topping have a significant impact on Oil Refining market? |
What are the key factors affecting the Topping and Conversion of Oil Refining Market? |
What is the CAGR/Growth Rate of Gasoline during the forecast period? |
By type, which segment accounted for largest share of the global Oil Refining Market? |
Which region is expected to dominate the global Oil Refining Market within the forecast period? |
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