Market Overview:
The global waxy crude oil market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The growth of the market can be attributed to the increasing demand for waxy crude oil from various applications such as petroleum fuel, lubricants and greases, wax, bitumen and petroleum coke, solvents and petrochemicals. In addition, the growing demand for waxy crude oil from emerging economies such as Asia Pacific and Latin America is expected to propel the growth of the global market over the forecast period. On basis of type, medium waxy crude oil segment is anticipated to account for a major share in terms of revenue in 2018. This can be attributed to its high demand from various applications including lubricants & greases and waxes segments across different regions. However light waxy crude oil segment is projected grow at highest CAGR over forecast period owing rising application potentials in end-use industries such as solvents & petrochemicals sector across different geographies. Based on application, Petroleum fuel segment accounted for majority share in terms revenue generated followed by Lubricants & Greases Segment In 2017 And Is Expected To Maintain Its Dominance Over The Forecast Period .
Product Definition:
Waxy crude oil is a type of crude oil that contains high levels of waxy molecules. These molecules are made up of long chains of carbon and hydrogen atoms, and they tend to clump together when exposed to heat or pressure. This makes waxy crude oil less fluid than other types of crude oil, which can make it difficult to transport and process. However, waxy crude oil has a higher yield of fuel than other types of crude oil, so it is often used in the production of gasoline and diesel fuel.
Medium Waxy Crude Oil:
Medium Waxy Crude Oil (MWCO) is a type of crude oil that has a high content of naphthenic and paraffinic components. The major portion of the total production is usually refined into various products such as petrol, diesel, kerosene and gasoil. Medium waxy crude oils are produced in large quantities owing to its high demand across various end-use industries such as automotive & transportation, construction & building materials and lubricants manufacturing industry among others.
Light Waxy Crude Oil:
Light waxy crude oil (LWCO) is a type of crude oil that has low viscosity and therefore can be easily refined. It consists of many different types of hydrocarbons, which are very light in weight as compared to other forms. The lighter weight makes them easy to be transported through pipelines and also helps in refining it into various products such as gasoline, diesel, kerosene etc.
Application Insights:
The petroleum fuel segment accounted for the largest market share of over 50% in 2017 and is projected to witness significant growth over the forecast period. The growing demand for crude oil as a fuel in the global automotive industry is expected to drive product demand. Increasing production of gasoline and diesel from Middle East countries, on account of increasing population, coupled with high per capita consumption rates across developed economies will further propel product demand.
Lubricants & greases segment followed closely behind petroleum fuels owing to its extensive usage as an additive in lubricant formulations that enhance performance properties such as viscosity index and thermal stability at elevated temperatures. Growing industrialization along with technological advancements has led to increased use of these products due to their excellent lubricating ability which also helps extend engine life cycles thereby driving their consumption globally.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for over 45% of the global share. The growth is attributed to increasing fuel consumption coupled with growing industrialization in emerging economies, such as China, India, Thailand and Indonesia. In addition, rising automotive production mainly in China owing to low labor cost will boost product demand further.
China is one of the largest consumers of crude oil globally owing to its large petroleum industry which includes both traditional methods as well as modern techniques including hydraulic fracturing or fracking. This has resulted in increased wax production from Chinese suppliers who are able to provide high-quality products at competitive prices compared to other major suppliers such as Kuwait and Saudi Arabia.
Growth Factors:
- Increasing demand from the transportation sector: The global transportation sector is growing at a rapid pace and is expected to witness significant growth in the coming years. This will lead to an increase in demand for waxy crude oil, as it is used as a fuel in various types of vehicles.
- Rising investment in the refining industry: The refining industry is witnessing rising investment from both private and public players across the globe. This will result in an increase in capacity utilization and lead to higher demand for waxy crude oil products.
- Growing use of waxes as additives: Waxes are being increasingly used as additives in various end-use industries such as cosmetics, pharmaceuticals, and food & beverages due to their properties such as lubricity, stability, and non-toxicity. This will result in higher demand for waxy crude oil products over the forecast period.
- . Technological advancements: There has been a significant advancement In refinery technologies over the past few years which has helped reduce emissions and improve efficiency levels of refineries globally .This Is likely to spur increased adoption of waxes In refinery operations thereby resulting In higher Demand for Waxy Crude Oil In th e future . 5) Emergence of shale gas production : Shale gas production Is on t he rise globally with countries such AS t he US , Canada ,and Argentina leading t his charge .The emergence Of shale gas production Will provide cheaper alternatives To traditional fuels Such As diesel And
Scope Of The Report
Report Attributes
Report Details
Report Title
Waxy Crude Oil Market Research Report
By Type
Medium Waxy Crude Oil, Light Waxy Crude Oil
By Application
Petroleum Fuel, Lubricants and Greases, Wax, Bitumen and Petroleum Coke, Solvents and Petrochemicals
By Companies
Saudi Aramco, National Iranian, Rosneft, CNPC, Kuwait Petroleum, ExxonMobil, BP, Petrobras, Pemex, Lukoil, ADNOC, Shell, Chevron, Qatar Petroleum
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
213
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Waxy Crude Oil Market Report Segments:
The global Waxy Crude Oil market is segmented on the basis of:
Types
Medium Waxy Crude Oil, Light Waxy Crude Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petroleum Fuel, Lubricants and Greases, Wax, Bitumen and Petroleum Coke, Solvents and Petrochemicals
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Saudi Aramco
- National Iranian
- Rosneft
- CNPC
- Kuwait Petroleum
- ExxonMobil
- BP
- Petrobras
- Pemex
- Lukoil
- ADNOC
- Shell
- Chevron
- Qatar Petroleum
Highlights of The Waxy Crude Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Medium Waxy Crude Oil
- Light Waxy Crude Oil
- By Application:
- Petroleum Fuel
- Lubricants and Greases
- Wax, Bitumen and Petroleum Coke
- Solvents and Petrochemicals
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Waxy Crude Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Waxy crude oil is a type of crude oil that has a high level of waxes and other hydrocarbons. This type of oil is difficult to refine, so it's typically used for lower-quality products.
Some of the key players operating in the waxy crude oil market are Saudi Aramco, National Iranian, Rosneft, CNPC, Kuwait Petroleum, ExxonMobil, BP, Petrobras, Pemex, Lukoil, ADNOC, Shell, Chevron, Qatar Petroleum.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Waxy Crude Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Waxy Crude Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Waxy Crude Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Waxy Crude Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Waxy Crude Oil Market Size & Forecast, 2020-2028
4.5.1 Waxy Crude Oil Market Size and Y-o-Y Growth
4.5.2 Waxy Crude Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Medium Waxy Crude Oil
5.2.2 Light Waxy Crude Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Petroleum Fuel
6.2.2 Lubricants and Greases
6.2.3 Wax
6.2.4 Bitumen and Petroleum Coke
6.2.5 Solvents and Petrochemicals
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Waxy Crude Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Waxy Crude Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Medium Waxy Crude Oil
9.6.2 Light Waxy Crude Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Petroleum Fuel
9.10.2 Lubricants and Greases
9.10.3 Wax
9.10.4 Bitumen and Petroleum Coke
9.10.5 Solvents and Petrochemicals
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Medium Waxy Crude Oil
10.6.2 Light Waxy Crude Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Petroleum Fuel
10.10.2 Lubricants and Greases
10.10.3 Wax
10.10.4 Bitumen and Petroleum Coke
10.10.5 Solvents and Petrochemicals
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Medium Waxy Crude Oil
11.6.2 Light Waxy Crude Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Petroleum Fuel
11.10.2 Lubricants and Greases
11.10.3 Wax
11.10.4 Bitumen and Petroleum Coke
11.10.5 Solvents and Petrochemicals
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Medium Waxy Crude Oil
12.6.2 Light Waxy Crude Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Petroleum Fuel
12.10.2 Lubricants and Greases
12.10.3 Wax
12.10.4 Bitumen and Petroleum Coke
12.10.5 Solvents and Petrochemicals
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Medium Waxy Crude Oil
13.6.2 Light Waxy Crude Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Petroleum Fuel
13.10.2 Lubricants and Greases
13.10.3 Wax
13.10.4 Bitumen and Petroleum Coke
13.10.5 Solvents and Petrochemicals
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Waxy Crude Oil Market: Competitive Dashboard
14.2 Global Waxy Crude Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Saudi Aramco
14.3.2 National Iranian
14.3.3 Rosneft
14.3.4 CNPC
14.3.5 Kuwait Petroleum
14.3.6 ExxonMobil
14.3.7 BP
14.3.8 Petrobras
14.3.9 Pemex
14.3.10 Lukoil
14.3.11 ADNOC
14.3.12 Shell
14.3.13 Chevron
14.3.14 Qatar Petroleum
