Middle East Refining and Petrochemicals Market Share, Growth, Competitive Analysis, Demand, Challenges, Future Trends, and Forecast, 2023-2030 | RationalStat Analysis

The Middle East refining and petrochemicals market is expected to approach 16.7 mbd by 2030, with an annual growth rate of more than 3.9%. Iran will lead the Middle East refining and petrochemicals market with the highest refinery capacity additions by 2030. Saudi Arabia has a prominent share of 30% of the Middle East’s active refinery capacity in 2023 with a capacity of 3,330 mbd. The country is anticipated to have a minor capacity addition of 20 mbd in the Jubail II refinery from 2023 to 2028.

Wilmington, Delaware, Oct. 05, 2023 (GLOBE NEWSWIRE) — Middle East Refining and Petrochemicals Market is estimated at a capacity of 12.8 million barrels per day in 2023 and is expected to grow at a significant CAGR of over 3.9% over the forecast period of 2023-2030, according to the latest market report by RationalStat

Market Definition, Market Scope, and Report Overview

The Middle East refining and petrochemicals market refers to the industry that processes crude oil and natural gas to create refined petroleum products (such as petrol, diesel, jet fuel, and other fuels) and petrochemical products (such as plastics, chemicals, and fertilizers).

Oil and gas exports are vital to the economies of Middle Eastern countries. Refining and petrochemical products are substantial export goods that contribute significantly to regional economic growth. Middle Eastern governments assist and invest in the refining and petrochemical sectors to improve infrastructure, research, and development. This assistance hastens the industry’s expansion and modernization.

• According to a deep-dive market assessment by RationalStat, the Middle East Refining and Petrochemicals market has been analyzed on the basis of market segments, type, and geography/regions (including GCC, Iran, Iraq, Turkey, Rest of the Middle East). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
• Market intelligence for the Middle East Refining and Petrochemicals market covers market sizes on the basis of market value (US$/EUR Million) and volume (Barrels per Day) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the Middle East Refining and Petrochemicals market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Middle East Refining and Petrochemicals Market: Segmental and Market Share Analysis

• On the basis of type, refining segment is expected to dominate the Middle East refining and petrochemicals market. Middle Eastern countries have invested heavily in refining capacities to process crude oil into various refined petroleum products.

Report Synopsis

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Competition Analysis and Market Structure

Prominent companies and leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Middle East refining and petrochemicals market include.

• In April 2023, Abu Dhabi National Oil Company (Adnoc) signed two significant agreements with Japanese firms to expand the UAE-Japan low-carbon hydrogen value chain.

Some of the prominent players and suppliers operating and contributing significantly to the Middle East refining and petrochemicals market growth include Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), Kuwait Petroleum Corporation (KPC), Qatar Petroleum (QP), Bahrain Petroleum Company (BAPCO), Oman Oil Company (OOC), Petrochemical Industries Company (PIC), National Iranian Oil Company (NIOC), Royal Dutch Shell, Total S.A., BP, ExxonMobil, Chevron, Eni S.p.A., Gazprom, Rosneft, Sinopec, China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC), and Petronas, among others.

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RationalStat has segmented the Middle East refining and petrochemicals market based on type and region

• Middle East Refining and Petrochemicals Market Value (US$ Million), Volume (Barrels per Day), and Market Share (2019-2030) Analysis by Type
  • Petrochemical
    • Ethylene
    • Propylene
    • Butadiene
    • Benzene
    • Xylene
    • Toluene
    • Methanol
  • Refining
• Middle East Refining and Petrochemicals Market Value (US$ Million), Volume (Barrels per Day), and Market Share (2019-2030) Analysis by Region
  • Middle East Refining and Petrochemicals Market
  • GCC
  • Iran
  • Iraq
  • Turkey
  • Rest of the Middle East

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Key Questions Answered in the Refining and Petrochemicals Report:

• What will be the market value of the Middle East Refining and Petrochemicals market by 2030?
• What is the market size of the Middle East Refining and Petrochemicals market?
• What are the market drivers of the Middle East Refining and Petrochemicals market?
• What are the key trends in the Middle East Refining and Petrochemicals market?
• Which is the leading region in the Middle East Refining and Petrochemicals market?
• What are the major companies operating in the Middle East Refining and Petrochemicals market?
• What are the market shares by key segments in the Middle East Refining and Petrochemicals market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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