The Argentina oil & gas downstream market size is projected to expand at a CAGR of more than 1.13% during the forecast period, 2021–2028. The growth of the market is attributed to the rising production of oil and increasing demand for natural gas in the country. The potential impact of energy transition is estimated to drive the market in the country.
Refining of petroleum crude oil and processing & purifying of raw natural gas, and marketing and distribution of the products made from oil and natural gas is the oil & gas downstream market. The products derived include asphalt, lubricants, waxes, fuel oils, natural gas, liquefied petroleum gas, gasoline, kerosene, jet fuel, diesel oil, and petrochemicals. The hydrogen sulfide removed in the refining process of crude oil and natural gas is converted into byproduct elemental sulfur.
Companies are adopting the gas to liquid technology to reduce the pollution levels and to produce high quality petroleum products. The conversion of natural gas to high quality liquid products is done through gas to liquid technology. International support and investment in the oil & gas industry is growing the market in the country. The companies are rearranging its operations and activities to recover from the covid-19 impact.
The downstream industry plays a major role in different sectors and industries. It has a big influence on various products and equipments used in medical profession. Downstream plays main role in agricultural sector as it is used in pesticides, fertilizers, and fuels needed for farming equipment. Argentina possesses the world’s fourth largest reserve of shale oil and second largest reserve of shale gas. The modernization of country’s downstream industry is important for the productivity of the nation.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing growth in the emerging markets of oil & gas downstream is expected to fuel the market in the coming years.
- Increasing demand of products from oil & gas industry is anticipated to boost the market in the country.
- Supportive government policies and initiatives to grow the oil & gas downstream industry is major factor propelling the market in the coming years.
- Disruption in supply of oil and gas in the market act as key factor that can restrict the market during the forecast period.
- High cost of equipments and process used in the oil & downstream market is projected to impede the market growth.
- R&D investment and technological advancement in the techniques used in the oil & gas downstream industry is estimated to offer significant opportunities for the market players.
Scope of the Report
The report on the Argentina oil & gas downstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Oil & Gas Downstream Market - Argentina Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Process Types (Petrochemical plants and Refineries)
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Country
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Argentina
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Pan American Energy SL, Raizen SA, Aximon Energy, Pampa Energia SA, and Yacimientos Petroliferos Fiscales SA
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Market Segment Insights:
The refineries segment is projected to constitute a large market share
Based on process types, the Argentina Oil & Gas downstream market is divided into petrochemical plants and refineries. The refineries segment is expected to account for a key share of the market during the forecast period owing to increasing oil production in the country. Rising income in the country have pushed up the oil demand which is increasing the need for refineries in the country.
Campana Refinery, executed by Pan American Energy has production of petroleum products capacity of 4.5 million cubic meters per year. It is anticipated to raise the production capacity of fuels by 60% and also reduce its sulfur contents to improve its quality. Crude oil cannot be exported, only refined products can be exported is increasing the demand for refineries in Argentina.
The petrochemical plants segment is anticipated to expand at a rapid pace during the forecast period due to its high usage of converting natural resources including minerals, oil, ores, and natural gas into products for different application. Petrochemical plants are used for producing necessary building blocks for industry processes such as ethylene, aromatics, butadiene, and propylene.
Segments
The Argentina oil & gas downstream market has been segmented on the basis of
Process Type
- Petrochemical plants
- Refineries
Key Players
Competitive Landscape
Key players competing in the Argentina oil & gas downstream market include Pan American Energy SL, Raizen SA, Aximon Energy, Pampa Energia SA, and Yacimientos Petroliferos Fiscales SA. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares and to increase the production of oil & gas.
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