Southeast Asia Refined Petroleum Products Market Size (2024 - 2029)

The Southeast Asia refined petroleum products market is projected to experience growth over the forecast period, driven by increasing power demand and investments in the sector. Despite challenges posed by the shift towards renewable energy and electric vehicles, the market has rebounded to pre-pandemic levels, with Indonesia anticipated to see significant expansion due to supportive government policies and investment. The region's market size is expected to benefit from favorable private investment policies, creating promising opportunities for further development.

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Market Size of Southeast Asia Refined Petroleum Products Industry

South East Asia 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 4.00 %
Market Concentration Medium

Major Players

Southeast Asia Refined Petroleum Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Refined Petroleum Products Market Analysis

The Southeast Asia refined petroleum products market is expected to register a CAGR of over 4% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, the growing high power demand is expected to stimulate the growth of the refined petroleum products market in the region. Furthermore, increasing investments in refined petroleum products are expected to drive growth.
  • On the other hand, the growing emphasis on renewable energy and the adoption of electric vehicles are expected to hamper the growth of the market during the forecast period.
  • Nevertheless, favorable policies for investment by private players in the region would likely create lucrative growth opportunities for the refined petroleum products market.
  • Indonesia is expected to witness significant growth and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with supportive government policies in the country.

Southeast Asia Refined Petroleum Products Industry Segmentation

Refined petroleum products are derived from crude oils through catalytic cracking and fractional distillation. These products have physical and chemical characteristics that differ according to the type of crude oil and subsequent refining processes.

The Southeast Asia refined petroleum products market is segmented by product and geography. By product, the market is segmented into automotive fuels, marine fuels, aviation fuels, liquefied petroleum gas (LPG), and other products. The report also covers the market size and forecasts for the market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

By Product
Automotive Fuels
Marine Fuels
Aviation Fuels
Liquefied Petroleum Gas (LPG)
Other Products
By Geography
Indonesia
Malaysia
Thailand
Rest of Southeast Asia
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Southeast Asia Refined Petroleum Products Market Size Summary

The Southeast Asia refined petroleum products market is poised for growth, driven by increasing power demand and investments in the sector. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. However, the shift towards renewable energy and the rise of electric vehicles present challenges to market expansion. Despite these challenges, favorable investment policies in the region are expected to offer significant opportunities for growth. Indonesia is anticipated to be a key player in this market, benefiting from substantial investments and supportive government policies. The automotive fuel segment is projected to experience the fastest growth, spurred by new regulations promoting cleaner fuel options in the transportation sector.

The region's oil refining capacity has seen notable expansion, with countries like Indonesia, Malaysia, Thailand, and Vietnam significantly increasing their daily refining capabilities. The demand for refined petroleum products is further bolstered by rising automobile sales and industrialization, particularly in Indonesia, where the aviation industry is also experiencing robust growth. The need for enhanced oil transportation infrastructure is critical, given the ongoing and planned developments in refinery and petrochemical facilities. The market is moderately fragmented, with major players such as BP PLC, Shell PLC, TotalEnergies SE, PT Pertamina (Persero), and Exxon Mobil Corporation actively participating in the region. Recent developments, including the commissioning of an LPG storage terminal in Malaysia and collaborations to restart refinery-petrochemical complexes, underscore the dynamic nature of the market.

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Southeast Asia 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 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Market Drivers

      2. 1.5.2 Market Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - 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 By Product

      1. 2.1.1 Automotive Fuels

      2. 2.1.2 Marine Fuels

      3. 2.1.3 Aviation Fuels

      4. 2.1.4 Liquefied Petroleum Gas (LPG)

      5. 2.1.5 Other Products

    2. 2.2 By Geography

      1. 2.2.1 Indonesia

      2. 2.2.2 Malaysia

      3. 2.2.3 Thailand

      4. 2.2.4 Rest of Southeast Asia

Southeast Asia Refined Petroleum Products Market Size FAQs

The Southeast Asia Refined Petroleum Products Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

BP PLC, Shell PLC, TotalEnergies SE, PT Pertamina (Persero) and Exxon Mobil Corporation are the major companies operating in the Southeast Asia Refined Petroleum Products Market.

Southeast Asia Refined Petroleum Products Report Snapshots

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