Oil Refining Market Size
Market Size in USD Bn
CAGR4.5%
| Study Period | 2025-2032 |
| Base Year of Estimation | 2024 |
| CAGR | 4.5% |
| Market Concentration | High |
| Major Players | Reliance Industries Limited, BP PLC, China National Petroleum Corporation (CNPC), ExxonMobil Corporation, Chevron Corporation and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Oil Refining Market Analysis
The oil refining market is estimated to be valued at USD 1921.19 Bn in 2025 and is expected to reach USD 2614.47 Bn by 2032, growing at a compound annual growth rate (CAGR) of 4.5% from 2025 to 2032. As economies continue to develop worldwide, demand for refined oil and petroleum products is growing steadily.