PETROLEUM LIQUID FEEDSTOCK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant region in the global petroleum liquid feedstock market with 38.7% share in 2024. With the U.S. as one of the largest producers and consumers of crude oil and natural gas globally, North America accounts for sizeable production and consumption of petroleum liquid feedstocks. Major oil producing regions like Permian Basin, Eagle Ford shale, and Bakken shale have enabled the U.S. to meet domestic needs while exporting excess supplies. Additionally, the region is home to leading refining companies that process crude oil into petroleum products. Due to well-developed refined petroleum product pipeline infrastructure as well as strategic petroleum reserve facilities, North America enjoys strong supply reliability.

Asia Pacific has emerged as the fastest growing regional market for petroleum liquid feedstock. Rapid industrialization and urbanization have increased energy demands, making countries like China and India highly reliant on imported crude oil to meet their needs. China, the world's second largest crude oil consumer after the U.S., imports around 70% of its crude oil requirements. Major Asian economies are consistently investing in expanding their refining capacities to cater to rising oil consumption. Countries in Southeast Asia like Vietnam and Indonesia are also aggressively ramping up petroleum refining to boost domestic production of petroleum products. Additionally, Asia Pacific's proximity to the resource-rich Middle East has enabled steady crude oil imports into the region. With robust economic growth and increasing integration in global supply chains, Asia Pacific's appetite for petroleum liquid feedstocks is expected to rise substantially in the coming years.