The down streaming process in petroleum industry includes final processing of crude oil into finished products such as asphalt, plastics, synthetic rubber, fertilizers, pharmaceuticals and pesticides. The downstream process in petroleum industry also includes the final product distribution and its marketing. Thus it is the intermediate step between the suppliers and the customers. The market for petroleum downstream processing is expected to grow at a healthy growth rate due to significant investment opportunities in the oil and gas industry.
The market for petroleum downstream processing market can be segmented on the basis of its end product into various categories namely- Asphalt, Pharmaceuticals, Fertilizers, Pesticides, Plastics and Synthetic rubber. The market for petroleum
downstream processing market can also be segmented on the basis of its end use into three categories namely – Industrial, commercial and agricultural use. The market for petrol down streaming is dominated mostly by the Middle Eastern countries like Saudi Arabia. Russia, Kazakhstan and the UK are the other major exporters outside OPEC
The governmental organizations are playing a significant role in numerous countries in licensing the private refineries and deregulating the subsidiaries. This in turn is helping to improving domestic capacity of the petroleum downstream processing market. Growing emphasis on cost reduction in downstream sector of petroleum industry, improving infrastructure in marketing and distribution and the favorable geopolitical situation across the globe are expected to give boost to this market in coming years. Ever increasing prices of the crude oil irrespective of its increasing demand is restraining the market for petroleum downstream processing. .Petroleum downstream processing market provides a wide range of opportunities for the equipment suppliers, pipeline and storage contractors and for those who are the providers of petroleum and environmental technical services.
Some of the key players in petroleum downstream processing market are Exxon Mobil, BP Plc, Royal Dutch Shell Plc, Reliance Industries Limited, Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation.
