The market is dominated by domestic suppliers, as imports account for 16.9% of total market size in 2023. B2B drives market demand, with B2B spending representing 57.2% of total demand in 2023. The US has the largest market size for refined petroleum products across the top 20 developed countries, with demand reaching USD907 billion in 2023. Marathon Petroleum Co LLC is the largest company in the US, generating 18.6% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 45.5% of total production value in 2023. The total number of companies decreases in 2023, to 698 units. The costs of the industry decrease by 16.8% in 2023, largely driven by declining B2B costs. The industry’s profitability increases and stands at 23.0% of production value in 2023, the highest across the top 20 developed countries. The industry’s exports share decreases in 2023 to 20.9% of total production output. With production value of USD751 billion, the US accounts for 90.9% of the North America total in 2023.
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This Euromonitor industrial report provides unique information on Refined Petroleum Products in the US: 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 the US: ISIC 232 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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