The Report Covers Global Oil Refining Capacity by Country and Largest Refining Companies. The Oil Refining Market is Segmented by Geography (North America, Asia-Pacific, Europe, South America, Middle-East, and Africa). For each segment, the market sizing and forecasts have been done based on refining capacity (in million barrels per day)

The worldwide oil refining market was valued at some 1.5 trillion U.S. dollars in 2024. Crude refining is expected to grow in the coming decade as demand for transportation fuels, lubricants, and other petroleum products is set to increase further.

In 2023, the world's oil refinery capacity reached 103.5 million barrels per day. Overall, global refinery capacity has nearly doubled in the past fifty years and experienced the largest growth during the 1970s. Production, demand, and refineries Since the turn of the millennium, global refinery capacity has grown at a more consistent rate than oil production. However, refinery capacity has not been sufficient in keeping up with rising demand. Refineries in the United States have been particularly stretched by the drastic increase in extraction of shale oil over the past decade, which allowed the United States to become the leading producer of oil in the world. Consumption expanding in Asia While historically Europe, Eurasia, and North America have been the largest consumers of petroleum, regional distribution is shifting as consumption rises rapidly in Asia. China is currently the second-largest consumer of oil in the world, following the United States.

The size of the Oil Refining Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.30% during the forecast period. The oil refining industry is a vital component of the global energy landscape, dedicated to transforming crude oil into various refined products, including gasoline, diesel, jet fuel, and petrochemicals. This sector is essential for fulfilling the diverse energy requirements of the world, facilitating transportation, industrial activities, and everyday consumer goods. Several critical factors influence the market, such as variations in crude oil prices, technological advancements in refining processes, and regulatory measures aimed at minimizing environmental impacts. Contemporary refining methods utilize advanced techniques like hydrocracking, catalytic reforming, and desulfurization to generate cleaner fuels and enhance operational efficiency. Furthermore, the industry is increasingly urged to implement sustainable practices and lower emissions, prompted by rigorous environmental regulations and a heightened focus on reducing carbon footprints. Innovations in refining technology, including the incorporation of renewable energy sources and sophisticated analytics for improved operational performance, are becoming more common. Nevertheless, the market faces challenges such as fluctuating oil prices, supply chain interruptions, and competition from alternative energy solutions. In summary, the oil refining sector remains a dynamic and indispensable element of the global energy framework, consistently evolving in response to technological progress and environmental requirements while aiming to satisfy the changing energy needs of the world. Recent developments include: May 2023: Rosneft, the Russian energy giant, announced its plans to collaborate with Indian state-owned refiners to establish a new refinery in India. This decision follows the adjustment of the proposed USD 44-billion refinery project on India's western coast by the country's state-run refiners., March 2023: Advanced talks were underway between the African Export-Import Bank (Afreximbank) and Senegal's sole oil refiner, Société Africainede Raffinage(SAR), to raise USD 500 million in syndicated funding for further renovating the aging refinery.. Key drivers for this market are: Increasing Global Demand for Refined Petroleum Products4., Economic Growth and Industrialization. Potential restraints include: Environmental Concerns and Regulations. Notable trends are: Increasing Global Demand For Refined Petroleum Products To Drive The Market.

The African oil refining market is Segmented by Geography (Nigeria, Algeria, Egypt, South Africa, and Rest of Africa). The report offers the market size and forecasts for the African oil refining market in a million barrels per day for the above segment.

The global oil refining market reached a value of approximately USD 1,531.1 billion in 2024. The market is further expected to grow at a CAGR of 5.20% between 2025 and 2034, reaching a value of USD 2,416.2 billion by 2034.

China had the world’s largest oil refinery capacity as of 2023, at nearly 18.5 million barrels of oil per day. Oil refineries process crude oil into more useful products. Common oil refinery products include diesel fuel, heating oil, and gasoline. Global oil refining The global refinery capacity for crude oil has been steadily increasing since 1970. As of 2021, the total global refinery capacity for crude oil was some around 101 million barrels per day. However, the refinery throughput worldwide was over 79 million barrels of oil per day. United States oil refining In 2023, oil refinery capacity in the United States amounted to approximately 18.4 million barrels per day. The North American country has consistently maintained the largest oil refinery capacity across the globe, before being overtaken by China in 2023. As one of the largest U.S. refiners, Chevron had a crude oil refining capacity that handled 1.8 billion barrels of crude oil per day worldwide.

The oil and petroleum refining industry in China has an estimated market value of around 888 billion U.S. dollars in 2024. The industry employs more than 740,000 people. Total oil refinery capacity in China has increased to around 18.5 million barrels per day in 2023.

Through 2020, the petroleum and refinery end-use market output in the United States is expected to decrease by 15.9 percent, mostly due to the impact of the COVID-19 pandemic.

U.S. petroleum refinery market

It is projected that the growth of output from the U.S. petroleum refinery end-use market will slow, from a rate of 7.5 percent in 2021 to 0.4 percent in 2023, and grow again to 1.4 percent in 2024. Russian oil and gas company Gazprom more than doubled their revenues between 2009 and 2014 from refined petroleum products, from some 17.1 billion U.S. dollars in 2009 to 42.6 billion U.S. dollars in 2014, however revenues dropped to 32.7 billion U.S. dollars in 201*9.

Petroleum products refer to materials derived from crude oil and refined within oil refineries. Often, petroleum is converted into various classes of fuels, most commonly gasoline and fuel oil. Apart from common fuels, refineries can also produce chemicals that are often used in the production of plastics. There are a variety of by-products that are also derived from refining petroleum products such as fertilizer, perfumes, soaps, and vitamin pills. In Germany, it is expected that the country’s consumption of some refined petroleum products will decrease. For example, diesel consumption is expected to reach 27 million metric tons and heavy heating oil consumption is expected to fall to 4 million metric tons by 2030. Diesel is primarily used in diesel cars but can also be used for heating within private homes. It is a less volatile gas than gasoline. Sweden has several refineries, totaling 33 as of 2015, dedicated to the manufacturing of petroleum products.

In 2023, oil refinery capacity in the United States amounted to approximately 18.4 million barrels per day. Although refineries are operating at full capacity, they may still have difficulties in meeting daily energy demands. How production increased Oil consumption in the United States is one of the highest in the world and rising consistently. Since 2008, domestic production has more than doubled, following technological developments such as hydraulic fracturing that made it possible to extract from more oil sources, such as shale and tight sandstone. A surge in crude oil production has put pressure on refineries to keep raising capacity, which has not grown as rapidly. An excess of oil The unprecedented level of shale oil production outweighed the country’s growing demand and led to a sizable surplus. Since the 2010s oil glut, the United States has had to seek out new markets to increase exports, just as it became the world’s largest producer of oil.

Oil Refineries reported ILS2.78B in Market Capitalization this March of 2025, considering the latest stock price and the number of outstanding shares.Data for Oil Refineries | ORL - Market Capitalization including historical, tables and charts were last updated by Trading Economics this last March in 2025.

This dataset contains Refinery distillation capacity, throughput and output 2012-2019. Data from United Nations Statistics Division. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: - Refer back to the original source for numbers estimated by the United Nations Statistics Division (numbers with * symbol).- Output is equal to the sum of “production from refineries” for aviation gasoline, bitumen, gas/diesel oil, ethane, feedstocks, gasoline-type jet fuel, kerosene-type jet fuel, other kerosene, liquefied petroleum gas, lubricants, motor gasoline, naphtha, petroleum coke, other oil products, paraffin waxes, fuel oil, refinery gas and white spirits.- Throughput is equal to the sum of “transformation in refineries” for conventional crude oil, feedstocks, other hydrocarbons, additives and oxygenates, and natural gas liquids.

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Oil and Gas Refinery Maintenance Services Market Size 2024-2028

The oil and gas refinery maintenance services market size is forecast to increase by USD 897 million at a CAGR of 4.36% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. One of the primary drivers is the surging demand for refined fuel, which necessitates regular maintenance and upkeep of refineries to ensure their optimal performance, including oil and gas storage. 
Another trend influencing the market is the adoption of modular mini refineries, which offer cost-effective and efficient solutions for meeting the increasing demand for oil refining. Furthermore, the presence of stringent health, safety, and environmental (HSE) regulations is compelling refineries to invest in maintenance services to ensure compliance and mitigate risks.

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Offshore maintenance and facility management are also integral aspects of the market, as many refineries are located in remote areas with unique logistical challenges. The market is expected to grow as the global demand for refined petroleum products continues to increase. This growth will be fueled by the ongoing need to upgrade and maintain aging infrastructure, as well as the integration of advanced technologies such as artificial intelligence to improve refinery performance and efficiency. Overall, the market is characterized by its focus on process optimization, energy efficiency, and ensuring the highest levels of safety and regulatory compliance.

How is this Oil and Gas Refinery Maintenance Services Industry segmented?

The oil and gas refinery maintenance services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Small scale refinery
  Medium scale refinery
  Large scale refinery


Type

  Turnaround
  Maintenance and repair


Geography

  APAC

    China
    India
    Japan


  Europe

    UK
    Germany
    France


  North America

    US
    Canada


  Middle East and Africa
  South America

By End-user Insights

The small scale refinery segment is estimated to witness significant growth during the forecast period. Refinery maintenance services are essential for ensuring the safe, efficient, and reliable operation of oil and gas refineries, encompassing small, medium, and large-scale facilities. These services include routine inspections, repairs, replacements, and upgrades. Small-scale refineries, with lower processing capacities and limited resources, may have unique maintenance requirements. They may collaborate with local communities on workforce training, environmental initiatives, and safety practices. Offshore drilling, activity, and investment, as well as offshore wind projects, contribute to the demand for refinery maintenance services.

Smart refineries, automation, and data technology are transforming the refined oil and turnaround maintenance markets, making them more efficient and cost-effective. These sectors are increasingly reliant on modern technologies such as condition monitoring, data analytics, IoT sensors, and predictive algorithms to optimize asset performance. Turnaround services, repair services, routine maintenance, preventive maintenance, and emergency maintenance are all integral components of refinery operations, ensuring continuous productivity and safety. The use of drones and robotic crawlers for inspection and maintenance is also growing, enabling more precise and less intrusive assessments.

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The small scale refinery segment was valued at USD 1.44 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific (APAC) region dominates the market due to its substantial refining capacity. Countries like India, China, South Korea, and Japan have among the highest refining capacities worldwide and are heavily reliant on imported crude oil. With increasing crude oil imports, there is a growing need to expand refining capacities in APAC. Refining capacity in India, China, and South Korea has been consistently increasing for the past nine years. This expansion drives the demand for refinery maintenance services, as regular maintenance and repair are essential components of refineries' operations. The market i

Crude oil refining capacity is a measure of a country's ability to process crude oil into various refined petroleum products. This article highlights the top countries with the highest refining capacities, including the United States, China, Russia, India, Japan, South Korea, Germany, Brazil, Saudi Arabia, and Canada. It also mentions other notable countries and explains that refining capacity can change over time.

Learn about global oil refining capacity and its importance in converting crude oil into useful products. Discover the largest regions and countries with significant refining capacity, as well as the role of complex refineries in meeting global energy needs.

The size and share of the market is categorized based on Application (Oil and Gas Production, Oil and Gas Transportation, Oil and Gas Refining) and Product (Small Size (Upto 500 gpm), Medium Size (500-1000 gpm), High Size (More Than 1000 gpm)) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

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Refining Catalyst Market Size 2024-2028

The refining catalyst market size is estimated to increase by USD 1.61 billion and grow at a CAGR of 4.36% between 2023 and 2028. The growth of the market depends on several factors such as the increasing adoption of FCC processes, the increasing demand for cleaner fuels, and the increasing demand for crude oil products. Rising demand for crude oil products is fueling market growth, particularly evident in the global refining catalyst market. This upsurge in demand stems from various factors, including population expansion, industrialization, and heightened consumption of petroleum products. A significant driver is the increasing global population. As the world's population continues to grow, the need for energy naturally follows suit, underscoring the crucial role of crude oil products in meeting these energy needs.

What will the Size of the Refining Catalyst Market be during the Forecast Period?

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Refining Catalyst Market Segmentation

By Product Analysis

The FCC catalyst segment is estimated to witness significant growth during the forecast period. FCC catalysts are essential in the conversion of heavy hydrocarbon feedstocks into valuable lighter products, such as gasoline, diesel, and petrochemicals. FCC catalysts are efficient and effective in increasing refinery production and profitability, it has been widely applied by the oil refining industry.

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The global requirement for FCC is driven by the increasing need for cleaner and higher-quality petroleum products. As global energy consumption continues to rise, the refining industry must adapt to produce fuels that meet stricter specifications while maximizing production efficiency. By improving the yield and quality of high-value products, FCC make it possible for refiners to achieve these objectives in a more profitable way.

Refining Catalyst Market Regional Analysis

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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC holds a significant position in the global market. With its robust economies and growing energy requirements, countries in APAC have witnessed a significant increase in refining activities in recent years. The strategically located region, which has benefited from favorable government policies and attracted investments by major refiners around the world, is becoming a hub for oil refining.

Moreover, China is one of the key contributors to the market in APAC. The country has witnessed rapid urbanization and industrialization, leading to a surge in energy consumption. The country has become one of the largest crude oil refining centers in the world, and refining catalysts play a crucial role in enhancing the efficiency and productivity of its refineries. Such factors will increase the market growth in this region during the forecast period.

Refining Catalyst Market Dynamics and Customer Landscape

The market is witnessing significant growth, driven by the petroleum refining industry's demand for advanced technologies to produce transportation fuels. With the focus on meeting environmental regulations, there's a growing need for high-octane fuel and ultra-low sulfur diesel (ULSD). This is further fueled by the shift towards renewable energy sources and sustainable approaches. Oil refineries are increasingly investing in advanced refinery catalysts such as zeolites and fluid catalytic cracking (FCC) catalysts to enhance efficiency and reduce emissions. However, stringent regulations regarding sulfur content, nitrogen oxide, and mercury emissions pose challenges. The market is also affected by raw material demand-supply imbalances, emphasizing the importance of sustainable practices in the refining industry.

Key Market Driver

Increasing demand for crude oil products is driving growth in the market. The increased growth of petroleum products is being observed in the global refining catalyst market. This surge can be attributed to several factors, including population growth, industrialization, and increasing consumption of petroleum products. One of the main drivers of the increasing demand for crude oil products is the growing global population. As the world population continues to rise, so does the need for energy.

The need for crude oil products in the global market is also influenced by factors such as geopolitical developments and government policies. The demand for crude oil products can also be positively affected by governmen

U.S. PETROLEUM REFINING MARKET valued USD 793.3 Billion in 2024 and is projected to surpass USD 1,168.3 Billion through 2032

Global Oil Refining Catalyst market size was $8,285.81 Million in 2022. Oil Refining Catalyst Market's Compound Annual Growth Rate will be 5.10% from 2023 to 2030. Factors Affecting Oil Refining Catalyst Market Growth

Growing demand for refined petroleum products drives the global oil refining catalyst market

The growing demand for refined petroleum products has been a significant driver in the oil refining catalyst industry for several decades. The demand is primarily fueled by various factors, including population growth, economic development, industrialization, and urbanization. The global population continues to grow, particularly in developing countries. As more people move to urban areas and cities expand, the need for transportation fuels (such as gasoline and diesel) increases to meet the demands of commuting and transportation.

As economies grow, there is a higher demand for energy and transportation fuels to support industrial activities, manufacturing, and increased trade.

Oil Refining Catalyst Market Restraints (Access Detailed Analysis in the Full Report Version)

Environmental Concerns hinder the market growth. 
Volatility in Crude Oil Prices is a significant restraint for the market

Oil Refining Catalyst Market Opportunity (Access Detailed Analysis in the Full Report Version)

Increasing Demand in Developing Countries will augment the market growth.
The growing demand for petrochemical products offers a promising market for the oil refining catalyst market

Oil Refining Catalyst Market Trends (Access Detailed Analysis in the Full Report Version)

Increasing demand for cleaner fuels is shifting the market trends. 
Growing use of hydroprocessing catalysts in the production of diesel and gasoline is also a trend in the market

Introduction of Oil Refining Catalyst

Oil refining catalysts are substances or compounds that facilitate and accelerate the chemical reactions in the process of refining crude oil into various petroleum products. These catalysts are crucial components in the refining industry, as they help improve the efficiency and selectivity of the refining processes. Crude oil is a complex mixture of hydrocarbons, containing impurities, such as sulfur, nitrogen, and metals. Refining is the process of separating and converting these hydrocarbons and impurities into valuable products like gasoline, diesel, jet fuel, and various petrochemicals.

The size and share of the market is categorized based on Type (Paraffinic, Naphthenic) and Application (Automotive lubricants, Industrial lubricants, Metalworking fluids, Marine lubricants) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).