In China, several sectors, including the energy, machinery manufacturing, electricity, chemicals and metallurgy sectors, have gradually overcapacity in recent years. As a result, demand for crude oil and finished oils, including heating oil and diesel fuel, has been fluctuate over the past five years. The strong performance of the auto sector, in particular, has added to the national oil consumption on a substantial scale and made it a significant driver of growth for the Oil and Petroleum Refining industry in China, especially from 2011 to 2013. However, the slowdown in economic growth and decreasing price and demand of crude oil affected the sustainable and rapid revenue growth over the past three years. Industry revenue has been inclining at an annualized rate of 0.9%...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Report - Industry Investment Chapter

The Crude Oil and Petroleum Product Processing industry in China is a capital and technology intensive industry that also benefits significantly from economies of scale. For every dollar spent on labor (including wages, R&D, and management and administration expenses), about 29 cents are invested in capital.Enterprises operating in this industry require heavy investment to build factories, acquire equipment and machinery, and purchase crude oil. To reach optimal capacity and minimize costs, project scales are large and capital investment is high. The utilization of labor is relatively low in this industry.As project periods are always long, it often takes several years to get from the project development stage to the production stage...purchase to read more.

Additional Insights for the Oil & Petroleum Refining Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil & Petroleum Refining Industry are

  • Economies of scale
  • Ability to take advantage of government subsidies and other grants
  • Ability to negotiate successfully with regulators
  • IBISWorld analysts also discuss how external factors such as World price of crude oil and Domestic Goods Prices - Petroleum - Gasoline (Retail) in the Oil & Petroleum Refining industry impact industry performance..

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    What's in this report

    What is the Oil & Petroleum Refining Industry?

    The Oil and Petroleum Refining industry in China refines oils and produces petroleum products. The industry's major products include gasoline, diesel oil, coal oil, fuel oil, lubricating oil, lube oil base stock, naphtha, solvent oil, petroleum asphalt, petroleum coke, gaseous propellant, paraffin and petroleum resin.

    Industry Products
  • Gasoline
  • Kerosene
  • Fuel oil
  • Lubricating oil
  • Diesel oil
  • Industry Activities
  • Processing crude oil
  • Producing petroleum products
  • Selling petroleum products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of crude oil
  • Domestic Goods Prices - Petroleum - Gasoline (Retail)
  • Downstream Demand - Basic Chemicals, Resin and Synthetic Fibers Manufacturing
  • Downstream Demand - Machinery Manufacturing
  • Downstream Demand - Wholesale Trade

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
    Demand outlook
  • Table: Oil & Petroleum Refining Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil & Petroleum Refining Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Freight Rail Transport
  • Rail Transportation of Passengers
  • Freight Trucking
  • Airlines
  • Air Transportation of Freight
  • Oil Wholesale
  • Gas Stations

  • Key Selling Industries
  • Oil & Gas Drilling

  • Products & Services
  • Diesel oil
  • Gasoline
  • Other
  • Kerosene
  • Fuel oil
  • Lubricating oil
  • Chart: Oil & Petroleum Refining Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Wholesalers
  • Other
  • Chemical industries
  • Gas stations
  • Transportation industries
  • Electricity suppliers
  • Exports
  • Chart: Major Market Segmentation for the Oil & Petroleum Refining Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation
  • Utilities
  • Wages and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Oil & Petroleum Refining

  • Basis of Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil & Petroleum Refining Industry

  • Industry Globalization
    China Petrochemical Corporation, China National Petroleum Corporation, China National Offshore Oil Corporation, Sinochem Corporation,
  • Table: China Petrochemical Corporation - financial performance
  • Table: China National Petroleum Corporation - financial performance
  • Table: China National Offshore Oil Corporation - financial performance
  • Table: Sinochem Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Oil & Petroleum Refining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Oil & Petroleum Refining Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Total Assets (2008-2022)
  • Crude Oil Runs (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A brownish-black solid or semisolid mixture of bitumens obtained from native deposits or as a petroleum by-product, used in paving, roofing and waterproofing.
  • Kerosene
  • A thin oil distilled from petroleum or shale oil, used as a fuel for heating and cooking, in lamps, and as a denaturant for alcohol. Also called coal oil or lamp oil.
  • Naphtha
  • Any of several highly volatile, flammable liquid mixtures of hydrocarbons distilled from petroleum, coal tar, and natural gas and used as fuel, as solvents, and in making various chemicals.
  • Paraffin
  • A waxy, white or colorless, solid hydrocarbon mixture used to make candles, wax paper, lubricants and sealing materials. Also called paraffin wax.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Oil & Petroleum Refining market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
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    This report on Oil & Petroleum Refining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Oil & Petroleum Refining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Oil & Petroleum Refining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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