Saudi Arabia Petroleum Liquid Feedstock Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Type, Application, End product, and Region

Saudi Arabia Petroleum Liquid Feedstock Market Definition:

The major reason for the growth of the petroleum liquid feedstock market is the rising demand for petrochemical feedstock. Around 90% of the chemical used to produce petrochemical feedstock are in the form of naphtha and ethane. The conversion of crude oil and natural gas into value-added petroleum products such as fertilizers, plastics, tires, and others will also contribute to the growth of the petroleum liquid feedstock market. The rising exploration of unconventional petroleum resources and rapid growth in the transportation sector will have a positive impact on the market and contribute to its growth significantly over the forecast period.

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Saudi Arabia Petroleum Liquid Feedstock Market Dynamics:

The growth in demand for application in aromatics and gasoline, in addition to increasing fuel consumption in automation and domestic transportation, is the major factor that drives the growth of the market. Saudi Arabia is a key global player in ethylene and produces 9% of the total global capacity of ethylene which is extensively used in the chemical industry for the production of polymers. The increase in demand for plastic will drive the petroleum liquid feedstock market because natural gas oil is the key input in this product and manufacturers have a strong dependency on natural gas oil or ethane as a feedstock.

Saudi Arabia is the largest producer of the oil cartel OPEC. In 2021 the total petroleum import and crude oil import to the US were 5% and 6%, respectively. The demand for naphtha has been rising due to its uses in various industries such as petrochemical, agriculture, aerospace, paints and coatings, and others. Naphtha held the largest share in the industry due to its increased demand in the production of ethylene. As a result, the demand for products is expected to boost the market growth through the forecast period.

The major concern of the industry is chemicals and their implications on human health and the environment. The COVID-19 Pandemic adversely affected the market. The oil prices go negative for the first time in record. Worldwide oil demand fell rapidly as governments closed businesses and restricted travel due to the COVID-19 pandemic.

The Saudi Arabia Petroleum Liquid Feedstock Market is witnessing significant growth by investing in new naphtha production plants. The FDI and government investments have increased in the region and have introduced favorable policies and subsidies for boosting industrial growth. The significant growth of the automotive industry due to the growing urban population has surged the demand for petroleum liquid feedstock in Saudi Arabia. Transportation, construction, and plastic, among other end-use industries propel the demand for petrochemical products and will contribute to the growth of the market.

Saudi Arabia Petroleum Liquid Feedstock Market Segment Analysis:

By Product Type, the market is bifurcated into Naphtha and Gasoil. Naphtha dominates the segment over the forecast year. Due to its demand in the production of ethylene, it is one of the intermediate products from the distillation of crude oil. It is used as a raw material to produce plastics like polyethylene and polypropylene.

By Application, the market is bifurcated into the industrial solvent, cleaning fluid, adulterants to petrol, and others. Industrial solvent dominates the segment over the forecast year. The increase in demand for products such as xylene, benzene, and toluene from the various end-user sectors is the major factor driving the growth of the market.

Saudi Arabia Petroleum Liquid Feedstock Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in Saudi Arabia, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

The objective of the report is to present a comprehensive analysis of the Saudi Arabia Petroleum Liquid Feedstock market to the stakeholders in the industry. The report provides trends that are most dominant in the Saudi Arabia Petroleum Liquid Feedstock market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Saudi Arabia Petroleum Liquid Feedstock Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Saudi Arabia Petroleum Liquid Feedstock market report is to help understand which market segments and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Saudi Arabia Petroleum Liquid Feedstock market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Saudi Arabia Petroleum Liquid Feedstock market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Saudi Arabia Petroleum Liquid Feedstock market. The report also analyses if the Saudi Arabia Petroleum Liquid Feedstock market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Saudi Arabia Petroleum Liquid Feedstock market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Saudi Arabia Petroleum Liquid Feedstock market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Saudi Arabia Petroleum Liquid Feedstock market is aided by legal factors.

Saudi Arabia Petroleum Liquid Feedstock Market Scope:

Saudi Arabia Petroleum Liquid Feedstock MARKET KEY PLAYERS: 

• Saudi Aramco (Dhahran)
• Weatherford Energy Services (Houston)
• Gulf Energy International
• Alkhorayef Petroleum 
• Petrogistix  ( Khobar)
• Petroleum Product Company (Dhahran)
• Enpro Saudi Arabia ltd (Dammam)
• Shahig Company (Dammam)
• Grey Wolf Oilfield Services (Khobar)
• ARAMCO Naoupd (Dhahran)