The market is dominated by domestic suppliers, as imports account for 6.6% of total market size in 2023. B2B drives market demand, with B2B spending representing 95.0% of total demand in 2023. China has the largest market size for refined petroleum products regionally, with demand reaching USD674 billion in 2023. China Petroleum & Chemical Corp is the largest company in China, generating 54.7% of the industry’s total production value in 2023. The industry is concentrated, with the top three companies generating 94.6% of total production value in 2023. The total number of companies remains unchanged in 2023. The costs of the industry decrease by 2.3% in 2023, largely driven by declining B2B costs. The industry’s profitability increases and stands at 10.3% of production value in 2023, the 12th highest regionally. The industry’s exports share decreases in 2023 to 6.8% of total production output. With production value of USD613 billion, China accounts for 44.8% of the Asia Pacific total in 2023.
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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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