The oil downstream activities
market includes post extraction activities of crude oil and natural gas. The
market in this report is segmented into refined petroleum products
manufacturing, and asphalt, lubricating oil and grease manufacturing.
Refined petroleum products
manufacturing– The petroleum refineries market comprises companies that convert
crude petroleum to refined petroleum products such as gasoline, naptha, diesel
fuel and liquefied petroleum gas. Petroleum refineries are large industrial
complexes with extensive pipeline networks carrying crude oil and refined
petroleum products between sub processing units.
Asphalt, lubricating oil and
grease manufacturing– The petroleum products industry includes establishments
manufacturing block, asphalt paving mixture, asphalt shingle, coating
materials, petroleum lubricating oil and grease. Asphalt is a sticky, black and
highly viscous liquid or semi-solid form of petroleum used for surfacing roads,
flooring, and roofing.
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The global oil downstream
activities market has shown modest growth in the past years with a CAGR of over
8.8%. The year 2017 recorded highest ever growth in this market with a net
value of $125.9 billion, as per TBRC’s in-house consultants.
TBRC’s latest report shows the
historic and future trends in the market for each year with sourced reasons to
support the growth claims.
The report also shows the oil
downstream activities market to grow at a higher CAGR by 2021 as compared to
2017, along with geographies best suited for investments with highest return
rate.
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report at
With increasing investments in digital
technologies, oil refineries are adopting big data analytics technologies to
improve performance and reduce costs. Big data is high-volume, high-velocity
and high-variety information asset used for enhanced insight and decision
making. Sources of big data in a refinery include process control systems,
laboratory information systems, and asset management systems. For instance, a
large refinery can have 100,000 distinct measurements and thus an enormous
amount of data can be gathered and transformed into business knowledge to
optimize production and maximize commercial potential. Big data analytics tools
like analytic equations and neural networks are used to predict failure and
poor performance in the refining process. Companies like GE, IBM, Oracle, SAS
and EMC are offering analytics solutions to oil refineries. Refiners are
adopting these technologies to perform operations with greater flexibility, as
it improves access to manufacturing data at all organizational levels to drive
quicker decisions.
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TBRC’s latest report will cover in depth understanding and
calculated impacts of each market factor on a global as well as regional level,
to analyze the best investment strategy for this market.
Companies included in the report are Royal Dutch Shell, Exxon
Mobil Corporation, China Petroleum & Chemical Corporation, BP Plc, and
Chevron.
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