Southeast Asia Oil and Gas Downstream Market Size (2024 - 2029)

The Southeast Asia oil and gas downstream market is projected to experience growth over the forecast period, driven by rising demand for oil and natural gas and increased foreign direct investments. Despite challenges posed by the availability of reliable and cost-effective renewable energy sources, the market has rebounded to pre-pandemic levels. The exploration and production of oil and natural gas reserves in Southeast Asian countries present opportunities for refineries, particularly as import costs decrease. The Vietnamese downstream industry, in particular, is anticipated to expand significantly due to increased consumption and the construction and expansion of refineries, contributing to the overall market size growth.

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Market Size of Southeast Asia Oil and Gas Downstream Industry

Southeast Asia Oil and Gas Downstream Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Medium

Major Players

Southeast Asia Oil and Gas Downstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Oil & Gas Downstream Market Analysis

The Southeast Asia oil and gas downstream market is expected to register a CAGR of greater than 4% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

  • Over the medium period, the increasing demand for oil and natural gas and rising foreign direct investments are expected to boost the Southeast Asian oil and gas downstream market during the forecast period.
  • On the other hand, with the advent of reliable and cheaper renewable energy, more investment may not be focused on refineries, thereby hindering the market.
  • Nevertheless, Southeast Asian countries are eager to discover and produce oil and natural gas reserves, leading to increased exploration and discoveries, which could provide an opportunity for many refineries as the cost of importing reduces.
  • The Vietnamese downstream industry is expected to grow substantially during the forecast period. Increasing consumption in the country is a significant factor in this growth. Construction and expansion of refineries are also occurring, which is expected to boost the market's growth.

Southeast Asia Oil & Gas Downstream Industry Segmentation

The processes of refining, marketing, and eventually selling petroleum products are referred to as downstream. In the downstream business, a corporation refines crude oil and natural gas and markets and sells petroleum products to wholesale and retail customers. Processed natural gas is often sold directly to electric and gas utilities.

The Southeast Asia oil and gas downstream market is segmented by refineries, petrochemical plants, and geography. The report also covers the market size and forecasts for the oil and gas downstream market across major countries in the region. For each segment, the market sizing and forecasts have been done based on refining capacity (thousand barrels per day).

Refineries
Overview
Existing Infrastructure
Projects in Pipeline
Upcoming Projects
Petrochemicals Plants
Overview
Existing Infrastructure
Projects in Pipeline
Upcoming Projects
Geography
Thailand
Singapore
Indonesia
Malaysia
Vietnam
Rest of Southeast Asia
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Southeast Asia Oil and Gas Downstream Market Size Summary

The Southeast Asia oil and gas downstream market is poised for growth, driven by increasing demand for oil and natural gas and a rise in foreign direct investments. The market has rebounded to pre-pandemic levels after the negative impact of COVID-19. However, the emergence of reliable and cost-effective renewable energy sources poses a challenge, potentially diverting investments away from refineries. Despite this, the region's eagerness to explore and produce oil and natural gas reserves presents opportunities for refineries, as reduced import costs become a factor. The Vietnamese downstream industry, in particular, is expected to experience significant growth due to rising consumption and ongoing construction and expansion of refineries.

Southeast Asia, characterized by some of the fastest-growing economies, has seen an increase in oil refining capacity, with major projects underway in countries like Thailand, Singapore, and Malaysia. The region is attracting substantial investments, with Indonesia, Malaysia, and the Philippines emerging as key hotspots. Vietnam is also expanding its downstream sector to reduce reliance on imported refined oil and support its growing upstream industry. The market is moderately consolidated, with major players such as Petroliam Nasional Berhad, Shell PLC, and ExxonMobil Corporation. Collaborative efforts, like those between Thailand's PTT and Saudi Arabian Oil Company, aim to enhance downstream operations and explore clean energy initiatives, further shaping the market landscape.

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Southeast Asia Oil and Gas Downstream Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Refining Capacity Installed and Forecast in thousand barrels per day, till 2028

    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 Restraint

    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 Refineries

      1. 2.1.1 Overview

        1. 2.1.1.1 Existing Infrastructure

        2. 2.1.1.2 Projects in Pipeline

        3. 2.1.1.3 Upcoming Projects

    2. 2.2 Petrochemicals Plants

      1. 2.2.1 Overview

        1. 2.2.1.1 Existing Infrastructure

        2. 2.2.1.2 Projects in Pipeline

        3. 2.2.1.3 Upcoming Projects

    3. 2.3 Geography

      1. 2.3.1 Thailand

      2. 2.3.2 Singapore

      3. 2.3.3 Indonesia

      4. 2.3.4 Malaysia

      5. 2.3.5 Vietnam

      6. 2.3.6 Rest of Southeast Asia

Southeast Asia Oil and Gas Downstream Market Size FAQs

The Southeast Asia Oil and Gas Downstream Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

ExxonMobil Corporation, PT Pertamina, Shell PLC, Hyundai Engineering Co. and Petroliam Nasional Berhad are the major companies operating in the Southeast Asia Oil and Gas Downstream Market.

Southeast Asia Oil and Gas Downstream Report Snapshots

Southeast Asia Oil and Gas Downstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)