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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Australia Refined Petroleum Products Market Outlook
The Australia refined petroleum products market size is projected to grow at a CAGR of 2.75% between 2024 and 2032.
Key Takeaways:
- According to Geoscience Australia, in the year 2020-21, Australia imported more oil than it produced domestically, with only about 15% of the refinery feedstock being sourced within the country.
- As per Geoscience Australia's data, the estimated 2P reserves of Australia's conventional oil resources in 2021 stand at 8,564 petajoules (PJ) or 1,490 million barrels (MMbbl).
- The Australian Government, as stated by the Department of Climate Change, Energy, the Environment, and Water, plans two fuel quality changes by December 2025. The initial change aims to limit aromatic hydrocarbons to 35% in 95 RON petrol.
Gasoline fuel is propelling Australia refined petroleum products market growth, primarily due to its ability to enhance fuel economy, particularly favoured for long-distance transportation, commercial use, and heavy equipment
Gasoline boasts higher energy density for weight-conscious uses while providing rapid starting and acceleration which is considered ideal for sports vehicles. It also offers cost-effectiveness that is attractive to buyers while lowering NOx emissions that benefit air quality. Moreover, in the aviation sector, there has been a growing focus on developing sustainable jet fuel to meet environmental requirements.
In 2024, Apeiron AgroCommodities, a significant collector of used cooking oil in Asia, has entered a 50:50 partnership with Jet Zero Australia. Their objective is to create environmentally friendly feedstocks in Australia by obtaining waste oils and non-edible crops for producing sustainable aviation fuel (SAF) through Hydrotreated Esters and Fatty Acids (HEFA), thereby addressing the need for renewable fuels.
However, diesel fuel provides improved fuel economy through higher thermal efficiency, well-suited torque for heavy tasks, durability, low flammability, global accessibility, compatibility with biodiesel, and decreased carbon monoxide emissions.
Market Segmentation
Australia Refined Petroleum Products Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Diesel Fuel
- Gasoline
- Liquefied Petroleum
- Naphtha
- Others
Market Breakup by End Use
- Industrial and Commercial
- Transportation
- Automotive
- Marine
- Aviation
- Others
- Residential
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia refined petroleum products market key players are BP Australia Pty Limited, ExxonMobil Australia Pty Ltd., Shell Australia Pty Limited, and Chevron Australia Downstream Pty Ltd. among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 2.75% between 2024 and 2032.
The refined petroleum products market is categorised according to type, which includes diesel fuel, gasoline, liquefied petroleum, kerosene, naphtha, automotive fuels, aviation fuels, marine fuels, and others.
The key players are BP Australia Pty Limited, ExxonMobil Australia Pty Ltd., Shell Australia Pty Limited, and Chevron Australia Downstream Pty Ltd. among others.
Based on the refined petroleum products end use, the market is divided into industrial, transportation, residential and others.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
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