The global oil and gas market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Oil and gas symbolize global commerce on a huge scale when it comes to a business viewpoint. Global energy markets are consistently growing, and businesses invest vast amounts of money every year in helping keep and improve their oil and gas production. More than 180 nations have invited businesses to make a deal for the right to explore their lands or territorial waters, expecting to find and produce oil and gas, generate local jobs and provide huge amounts of money in domestic earnings.
Huge amounts of oil and gas move every day from exporting regions like the Middle East, Africa and Latin America to importing regions like North America, Europe, Far East and South Asia. Oil and gas exporters want to increase their own profits and improve their trade balances while keeping control and sovereignty over their natural resources. Simultaneously, importing nations want to reduce trade deficits and ensure a stable, dependable oil supply. For instance, countries like China and India have acknowledged that they should access oil to be able to carry on their long-term sustained growth and are actively looking for new sources of supply in the major oil and gas producing regions.
Based on the supply chain, oil and gas market can be divided into upstream, midstream and downstream segments.
The upstream industry discovers and produces crude oil and natural gas. The upstream may also be known as the exploration and production (E&P) sector.
The midstream industry processes, stores, markets and transports commodities such as crude oil, natural gas, natural gas liquids (NGLs, mainly ethane, propane and butane) and sulphur. The midstream offers the crucial link between the distant petroleum producing locations and the human population areas where the majority of consumers are located.
The downstream industry consists of oil refineries, petrochemical plants, petroleum products distributors, retail outlets and natural gas distribution companies. The downstream industry meets each and every region and supplies a large number of products like diesel, gasoline, jet fuel, heating oil, lubricants, asphalt, synthetic rubber, plastics, natural gas, propane and many other fuels and feedstock for the chemical industry.
Recent decline in the price of oil and gas have mostly led the global oil and gas exploration and production industry’s shrinkage in the last two years. Even though price of crude oil dropped prior to 2015, the drop was negligible when compared to drops encountered in last two years. Rapid industrialization of countries like China and India improved demand for petroleum products but growing over supply in the Middle East and Latin America is increasing pressure on prices of crude oil worldwide.
Top players in the oil and gas market include PetroChina, Royal Dutch Shell, Exxon Mobil, Sinopec, CNPC and Saudi Aramco.
The report covers exhaustive analysis on:
- Global Chlorine Market Segments
- Global Chlorine Market Size
- Supply & Demand
- Global Chlorine Market Competitive Landscape
- Production Technology
- Global Chlorine Market Value Chain
Regional analysis includes:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
The report offers exhaustive evaluation of parent market developments, macro-economic indicators and regulating aspects along with potential value of the market according to segments. The report also explains the qualitative effect of various market aspects on market segments and regions.
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth