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The oil refining market size is estimated to grow by USD 106.6 billion at a CAGR of 1.23% between 2023 and 2028. The growth of the market is influenced by several key factors. One of the primary drivers is the surging demand for refined fuel, which is essential for various sectors, including transportation, industry, and domestic use. Additionally, the growing aviation industry significantly contributes to market expansion, as it requires a substantial supply of jet fuel to support increasing air travel and cargo transportation. Moreover, increased investments in the construction industry are boosting the demand for refined oil products, such as asphalt for road building and lubricants for machinery. These factors collectively underscore the vital role of the oil refining industry in meeting global energy needs and supporting economic development across multiple sectors. The continuous advancements in refining technologies and the strategic expansion of refinery capacities further enhance the market's growth prospects.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Fuel Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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