The Iran oil & gas downstream market size was valued at USD XX Billion in 2022 and is to reach USD XX Billion by 2031, expanding at CAGR XX% during the forecast period, 2023–2031. Growth of the market is attributed to favorable government policies, initiatives to boost the downstream industry, and planned projects.
Upstream, midstream, and downstream are the three key segments of the oil and gas business. The downstream industry includes the refining of petroleum crude oil, processing and purification of raw natural gas, as well as marketing and distribution of crude oil and natural gas-derived goods.
Gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG), as well as hundreds of petrochemicals, are products of the downstream industry.
The downstream industry is important in a variety of sectors and businesses. It has a significant impact on a variety of medical items and equipment. Downstream is important in the agricultural industry since it is utilized in pesticides, fertilizers, and fuels for farm equipment. The Iran oil and gas downstream market forecast is quite optimistic due to increased oil consumption and refinery expansion in the country.
Iran has the potential to become a major supplier of natural gas to the region. It has reached agreements with some of its neighbors to export natural gas via a planned regional pipeline. The government of Iran is expected to be the driving force of growth in the industry as it focuses on increasing investment in the downstream sector to increase oil refining.
Increasing domestic demand for oil and natural gas, as well as increased investment in refineries and gas processing plants, are expected to boost demand for Iran's oil and gas downstream market during the forecast period.
Iran Oil & Gas Downstream Market Trends, Drivers, Restraints, and Opportunities
- Factors such as favorable government policies, initiatives to boost the downstream industry, and planned projects are estimated to boost the market in the coming years.
- Rapid growth of the oil and gas industry is main factor fueling the market during the forecast period.
- Shortage of funding owing to a worldwide economic recession in the case of a COVID-19 outbreak is expected to hamper the market growth.
- High cost of instruments and lack of skilled professionals act as major factor that can hinder the market expansion during the forecast period.
- Favorable policies for private sector investment are estimated to create significant opportunities for the market players.
Scope of Iran Oil & Gas Downstream Market Report
The report on the Iran 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.
Attributes
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Details
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Report Title
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Oil & Gas Downstream Market - Iran Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Refineries and Petrochemicals Plants)
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Country Scope
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Iran
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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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National Iranian Gas Company, Pars Oil Company, Iranol Oil Company, National Petrochemical Company, and National Iranian Oil Refining and Distribution Company
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Iran Oil & Gas Downstream Market Segment Insights
Types Segment Analysis
Based on types, the Iran oil & gas downstream market is bifurcated into refineries and petrochemicals plants. The refineries segment is expected to represent a key share of the market during the forecast period. In recent years, the refineries sector has dominated the Uzbek oil and gas downstream industry, and this trend is projected to continue during the forecast period.
The government is attempting to expand its downstream oil and gas sector through a series of investments in refinery modernization and growth. Refinery capacity in Iran increased from 1985 thousand barrels per day (kb/d) in 2015 to 2225 kb/d in 2018. The refinery throughput increased by 5.9 percent in 2018.
The Bid Boland Persian Gulf gas refinery is currently under construction, with an estimated investment of more than USD 3 billion. Due to US sanctions, Iran's oil refining capacity is expected to grow during the forecast period.
Segments
The Iran oil & gas downstream market is segmented on the basis of
Types
- Refineries
- Petrochemicals Plants
Country
Key Players
- National Iranian Gas Company
- Pars Oil Company
- Iranol Oil Company
- National Petrochemical Company
- National Iranian Oil Refining and Distribution Company
Competitive Landscape
The major players in the Iran oil & gas downstream market include National Iranian Gas Company, Pars Oil Company, Iranol Oil Company, National Petrochemical Company, and National Iranian Oil Refining and Distribution Company.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
