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West Africa Refined Petroleum Products Market Leading Manufacturers- Analysis by Types and Applications, Global Industry Trends & Size Outlook till 2021-2024

Summary

This “West Africa Refined Petroleum Products Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study […]

West Africa Refined Petroleum Products

This “West Africa Refined Petroleum Products Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study diminishes the risks involved in making decisions as well as strategies for companies and individuals interested in the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry.

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Market Overview:

  • The demand for refined petroleum products in West Africa is expected to witness a CAGR of 4.72% during 2019-2024. Major factors driving the market are the strong economic growth, increasing number of vehicle sales, and penetration of LPG in the recent times. The threat of violence from several militant groups, including small-scale theft and illegal local refining, large-scale illegal bunkering in the field, theft at export terminals, theft from fuel trucks, piracy, and oil tanker hijackings, is a major issue that has been hindering the growth in the production of the refined fuel in the region. This has also led to the increasing dependency on imports of refined fuels in the region.
  • – Heavy fuel oil (HFO) is a major marine fuel in the region and is expected to witness huge rise in demand by the power industry in the region with largest consumption to be seen in Nigeria and Ghana.
  • – Transition to low sulphur fuels is expected to provide ample opportunity to refined fuels providers in the coming years.
  • – The government of Ghana is planning to make the country a hub for the refining petroleum products in the West African sub-region in the coming years. The petroleum hub project may increase the presence of major international oil trading and storage companies, creating a regional trading champion, and encourage joint ventures between local and international companies for knowledge transfer and wealth creation.
  • West Africa Refined Petroleum Products Market Covers Manufacturers:

  • Commodity Trading Companies
  • Puma Energy Holdings Pte Ltd
  • Monjasa Holding AS
  • Vitol Group
  • Trafigura Group Pte Ltd
  • Mercuria Energy Trading SA
  • FuelSupply
  • Oryx Energies
  • Octogone International Gas & Oil Ltd
  • Sahara Group Limited
  • Oando PLC

    Scope of the Report:

    This report studies the global West Africa Refined Petroleum Products market size, industry status and forecast, competition landscape and growth opportunity.

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    Some of the Key Questions Answered in this Report:

    • Detailed Overview of West Africa Refined Petroleum Products Market will help deliver clients and businesses making strategies.
    • Influencing growth factors that are thriving demand and latest trends running in the market.
    • West Africa Refined Petroleum Products Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
    • What trends, challenges and barriers will impact the development and sizing of the Global West Africa Refined Petroleum Products Market?
    • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
    • What is the West Africa Refined Petroleum Products Market growth momentum or market carries during the forecast period?
    • Which region may tap the highest market share in the coming era?
    • Which application/end-user category or Product Type may seek incremental growth prospects?
    • What focused approach and constraints are holding the West Africa Refined Petroleum Products Market demand?

    Key Market Trends:

    Increasing Demand for Marine Fuel

    – Over the past decade, the growth in the volume of West Africas container trade exceeded that of any other region across the world, doubling to almost 5 million twenty-foot equivalent units (TEUs). This expansion, supported by rising incomes in the region, also contributed to excess congestion at its ports. To address the problem, many ports have begun investing in expanding the capacity of their port infrastructure and improving their handling efficiency. The increase in the port handling capacity is likely to result in more marine vessels operating in the region, which is a positive market indicator for the years to come.
    – On the distribution side, the distribution network of the West African region mostly depends upon the pipeline and the coastal front countries. For example, landlocked countries, such as Burkina Faso, Niger, Benin, and Mali, depend upon the pipelines network for the continuous supply of HFO.
    – By 2020, more ships are expected to be able to run their auxiliary engines on HFO compared to 2012, which is expected to increase the demand for HFO in the region, which may affect the prices of fuel.
    – Further, it is not possible to use low-grade fuels, such as heavy fuel oil or HFO, in regulated areas known as Emission Control Areas (ECAs). In such cases, Marine Gas Oil Fuel or MGO is used, which is one of the most prominently used clean fuels in the marine industry.
    – Recently, LNG has begun gaining attention as the “future fuel†for the shipping industry; however, the industry as a whole is yet to adapt to this change, and thus HFO is still one of the most preferred clean fuels used on ships.

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    Target Audience of West Africa Refined Petroleum Products Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to West Africa Refined Petroleum Products Market Report:

    • Analysing various perspectives of the West Africa Refined Petroleum Products market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the West Africa Refined Petroleum Products market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of West Africa Refined Petroleum Products market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of West Africa Refined Petroleum Products market studied, during the forecast period
    • The segments that are expected to dominate the West Africa Refined Petroleum Products market studied.

    Detailed TOC of West Africa Refined Petroleum Products Market Report 2024:

    1 INTRODUCTION
    1.1 Scope of Study
    1.2 Market Definition
    1.3 Study Assumptions
    1.4 Study Deliverables
    1.5 Research Phases

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET OVERVIEW
    4.1 Introduction
    4.2 West Africa Refined Petroleum Products Consumption in thousand bbl per day, 2017-2024
    4.2.1 Ghana
    4.2.2 Nigeria
    4.2.3 Cote d’ Ivoire
    4.2.4 Equatorial Guinea
    4.3 Recent Trends and Developments
    4.4 Government Policies and Regulations
    4.5 Market Dynamics
    4.5.1 Drivers
    4.5.2 Restraints
    4.6 Industry Supply-Chain Analysis
    4.7 Porters 5 Force Analysis
    4.7.1 Bargaining Power of Suppliers
    4.7.2 Bargaining Power of Consumers
    4.7.3 Threat of New Entrants
    4.7.4 Threat of Substitute Products and Services
    4.7.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Refined Product
    5.1.1 Marine Fuel
    5.1.2 Jet A1/Kerosene (DPK)
    5.1.3 Automotive Gas Oil (AGO)
    5.1.4 Premium Motor Spirit (PMS)
    5.1.5 Liquefied Petroleum Gas (LPG)
    5.1.6 Others

    6 COMPETITIVE LANDSCAPE
    6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
    6.2 Strategies Adopted by Leading Players
    6.3 Company Profiles
    6.3.1 Commodity Trading Companies
    6.3.1.1 Puma Energy Holdings Pte Ltd
    6.3.1.2 Monjasa Holding AS
    6.3.1.3 Vitol Group
    6.3.1.4 Trafigura Group Pte Ltd
    6.3.1.5 Mercuria Energy Trading SA
    6.3.1.6 FuelSupply
    6.3.1.7 Oryx Energies
    6.3.1.8 Octogone International Gas & Oil Ltd
    6.3.1.9 Sahara Group Limited
    6.3.1.10 Oando PLC

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    For Detailed TOC Click Here

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