China - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Processed Petroleum Oils and Distillates in China - 2023
Contents:
- Price for Processed Petroleum Oils and Distillates in China (FOB) - 2023
- Price for Processed Petroleum Oils and Distillates in China (CIF) - 2023
- Exports of Processed Petroleum Oils and Distillates in China
- Imports of Processed Petroleum Oils and Distillates in China
Price for Processed Petroleum Oils and Distillates in China (FOB) - 2023
In August 2023, the average export price for processed petroleum oils and distillates amounted to $757 per ton, surging by 7% against the previous month. Overall, the export price, however, continues to indicate a noticeable contraction. The export price peaked at $969 per ton in September 2022; however, from October 2022 to August 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In August 2023, the countries with the highest prices were South Korea ($843 per ton) and the Netherlands ($833 per ton), while the average price for exports to Marshall Islands ($606 per ton) and Liberia ($608 per ton) were amongst the lowest.
From September 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-0.8%), while the prices for the other major destinations experienced a decline.
Price for Processed Petroleum Oils and Distillates in China (CIF) - 2023
In September 2023, the average import price for processed petroleum oils and distillates amounted to $621 per ton, rising by 1.7% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 21% m-o-m. Over the period under review, average import prices reached the peak figure at $672 per ton in September 2022; however, from October 2022 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($888 per ton), while the price for Malaysia ($523 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Iraq (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Processed Petroleum Oils and Distillates in China
In 2022, the amount of processed petroleum oils and distillates exported from China contracted to 54M tons, which is down by -10.5% compared with the year before. Overall, exports continue to indicate a deep slump. The smallest decline of -3% was in 2021.
In value terms, processed petroleum oils and distillates exports soared to $48.3B in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +8.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +89.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Processed Petroleum Oils and Distillates in China (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 8.6 | 5.1 | 5.7 | 9.6 | 3.7% |
| Hong Kong SAR | 6.9 | 4.0 | 4.7 | 7.6 | 3.3% |
| Liberia | 0.7 | 1.1 | 1.9 | 3.2 | 66.0% |
| Netherlands | 0.7 | 0.5 | 0.4 | 2.7 | 56.8% |
| Philippines | 3.3 | 2.7 | 3.6 | 2.6 | -7.6% |
| Panama | 1.3 | 1.3 | 2.0 | 2.6 | 26.0% |
| Bangladesh | 0.9 | 0.8 | 1.3 | 2.2 | 34.7% |
| Pakistan | N/A | 0.2 | 1.6 | 2.0 | 216.2% |
| Australia | 2.4 | 1.4 | 1.5 | 1.8 | -9.1% |
| Malaysia | 1.3 | 1.3 | 1.2 | 1.6 | 7.2% |
| Marshall Islands | 0.4 | 0.5 | 1.0 | 1.4 | 51.8% |
| Vietnam | 1.4 | 0.5 | 0.4 | 1.1 | -7.7% |
| South Korea | 1.9 | 1.1 | 1.4 | 0.8 | -25.0% |
| Others | 8.5 | 5.0 | 5.8 | 9.1 | 2.3% |
| Total | 38.3 | 25.5 | 32.3 | 48.3 | 8.0% |
Top Export Markets for Processed Petroleum Oils and Distillates from China in 2022:
- Singapore (10.5M tons)
- Hong Kong SAR (8.6M tons)
- Liberia (4.1M tons)
- Panama (3.4M tons)
- Philippines (2.7M tons)
- Netherlands (2.7M tons)
- Bangladesh (2.3M tons)
- Pakistan (2.0M tons)
- Australia (1.8M tons)
- Marshall Islands (1.8M tons)
- Malaysia (1.7M tons)
- Vietnam (1.1M tons)
- South Korea (0.9M tons)
Imports of Processed Petroleum Oils and Distillates in China
Processed petroleum oils and distillates imports into China surged to 63M tons in 2022, rising by 16% against 2021 figures. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, processed petroleum oils and distillates imports surged to $25B in 2022. In general, total imports indicated a notable increase from 2019 to 2022: its value increased at an average annual rate of +4.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Processed Petroleum Oils and Distillates in China (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 6.3 | 5.4 | 4.9 | 4.4 | -11.3% |
| Qatar | 1.0 | N/A | 1.8 | 3.8 | 56.0% |
| Singapore | 2.9 | 1.4 | 1.7 | 3.1 | 2.2% |
| India | 1.9 | 1.1 | 1.4 | 2.5 | 9.6% |
| Japan | 1.0 | 0.4 | 0.3 | 1.1 | 3.2% |
| Malaysia | 1.2 | 1.4 | 1.2 | 1.0 | -5.9% |
| Egypt | 0.1 | 0.1 | 0.5 | 0.6 | 81.7% |
| Taiwan (Chinese) | 0.4 | 0.2 | 0.2 | 0.4 | 0.0% |
| United Arab Emirates | 0.5 | 0.1 | 0.1 | 0.4 | -7.2% |
| Russia | 3.2 | 2.1 | 3.2 | N/A | 0.0% |
| Others | 3.4 | 2.9 | 6.1 | 7.8 | 31.9% |
| Total | 21.9 | 15.2 | 21.5 | 25.0 | 4.5% |
Top Suppliers of Processed Petroleum Oils and Distillates to China in 2022:
- Qatar (10.2M tons)
- South Korea (9.9M tons)
- Singapore (7.8M tons)
- India (6.3M tons)
- Malaysia (3.6M tons)
- Japan (3.6M tons)
- United Arab Emirates (1.1M tons)
- Taiwan (Chinese) (0.8M tons)
- Egypt (0.8M tons)
This report provides an in-depth analysis of the market for processed petroleum oils and distillates in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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