North Africa Refined Petroleum Products Market Size (2024 - 2029)

The North Africa refined petroleum products market is poised for growth, driven by increased refining capacity in countries such as Egypt and Algeria, which is boosting the consumption of these products. The demand is further fueled by the rise in electricity generation from natural gas and oil. However, the expansion of the market size is expected to face challenges due to the growing share of renewable energy sources and efforts to reduce carbon emissions. Middle distillate oil products are anticipated to lead the market, supported by their use in sectors like power generation and transportation. The region's substantial oil reserves present future opportunities for the refinery and refined products sector.

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Market Size of North Africa Refined Petroleum Products Industry

North Africa Refined Petroleum Products-Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 2.10 %

Major Players

North Africa Refined Petroleum Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

North Africa Refined Petroleum Products Market Analysis

The refined petroleum products consumption in Africa is expected to grow at a CAGR of 2.1% during the forecast period. Factors such as increasing refining throughput capacity in countries like Egypt, Algeria, and others are driving the consumption of refined products. An increase in electricity generation from natural gas and oil is also creating significant demand for refined products in North African countries. On the other hand, with an increasing share of renewables and increasing efforts to curb the carbon emission, growth is expected to be restrained in the forecast period.

  • Middle distillate oil products are expected to dominate the market in the forecast period owing to the demand in different sectors like power generation, transportation, and others.
  • North Africa had more than 65 thousand million barrels of proved oil reserves. With future production of oil, several opportunities in the refinery sector and refined products can be expected in the North African region.
  • Egypt is the dominating country in the refined petroleum products with a one-fifth share in oil product consumption in the region as of 2018.

North Africa Refined Petroleum Products Industry Segmentation

The North Africa refined petroleum products market report includes:

Type
Light Distillates
Middle Distillates
Heavy Distillates
Geogrpahy
Morocco
Algeria
Egypt
Rest of North Africa
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North Africa Refined Petroleum Products Market Size Summary

The North Africa refined petroleum products market is poised for growth, driven by increasing refining throughput capacities in countries such as Egypt and Algeria. The demand for refined products is bolstered by the rising need for electricity generation from natural gas and oil, although the shift towards renewable energy sources and efforts to reduce carbon emissions may temper this growth. Middle distillate oil products, including jet fuel, kerosene, and diesel, are expected to dominate the market due to their essential role in sectors like power generation and transportation. The region's substantial oil reserves and ongoing refinery sector opportunities further support the market's expansion.

Egypt stands out as a key player in the North African refined petroleum products market, holding a significant share of oil product consumption and leading in refining capacity. The country has made substantial investments in refinery projects, enhancing its production capabilities and efficiency. Notable developments include the upgradation of the Mostorod refinery and the construction of a hydrocracking complex in Assiut. These initiatives, along with Egypt's strategic exports of hydrocarbon products, position it as a dominant force in the market. The market landscape is moderately fragmented, with major companies like Sonatrach SPA, Qalaa Holdings SAE, Total S.A., and Royal Dutch Shell Plc playing significant roles.

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North Africa Refined Petroleum Products Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Light Distillates

      2. 2.1.2 Middle Distillates

      3. 2.1.3 Heavy Distillates

    2. 2.2 Geogrpahy

      1. 2.2.1 Morocco

      2. 2.2.2 Algeria

      3. 2.2.3 Egypt

      4. 2.2.4 Rest of North Africa

North Africa Refined Petroleum Products Market Size FAQs

The North Africa Refined Petroleum Products Market is projected to register a CAGR of greater than 2.10% during the forecast period (2024-2029)

Sonatrach SPA, Qalaa Holdings SAE , Total S.A. , Royal Dutch Shell Plc and Abu Dhabi National Energy Company, PJSC are the major companies operating in the North Africa Refined Petroleum Products Market.

North Africa Refined Petroleum Products Report Snapshots

North Africa Refined Petroleum Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)