The market is dominated by domestic suppliers, as imports account for 6.7% of total market size in 2022. B2B drives market demand, with B2B spending representing 95.1% of total demand in 2022. China has the largest market size for refined petroleum products regionally, with demand reaching USD685 billion in 2022. China Petroleum & Chemical Corp is the largest company in China, generating 53.9% of the industry’s total production value in 2022. The industry is concentrated, with the top three companies generating 92.7% of total production value in 2022. The total number of companies decreases in 2022, to 9,223 units. The costs of the industry increase by 7.4% in 2022, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 10.3% of production value in 2022, the eighth highest regionally. The industry’s exports share increases in 2022 to 6.9% of total production output. With production value of USD627 billion, China accounts for 45.4% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Refined Petroleum Products in China: ISIC 232. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Refined Petroleum Products in China: ISIC 232 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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