Gas up: As the US economic recovery accelerates, export growth will pick up

Revenue for the Petroleum Refining industry has been volatile in the five years to 2018. Crude oil prices are the primary driver of industry revenue because the price of petroleum products matches trends in crude oil prices. Revenue during the current period reflected volatility in the price of crude oil. The net effect of fluctuating crude oil prices on industry product prices has resulted in industry revenue falling over the five years to 2018. Over the five years to 2023, industry revenue is projected to rise. An expanding domestic economy will prompt increased consumer spending, new car sales and overall manufacturing more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • The net effect of fluctuating crude oil prices on industry product prices has resulted in industry revenue falling
  • Industrial production is projected to increase as the economy gains momentum
  • Operators maintain capacity utilization rates even during times of low revenue
  • Industry Report - Industry Locations Chapter

    The Petroleum Refining industry in Canada is mostly concentrated in three regions: Edmonton, AB, Montreal and Sarnia, ON. Edmonton and Sarnia are both home to three refineries, owned by Suncor, Imperial Oil and Shell Canada, respectively. Edmonton contains Suncor's largest refinery. The country's largest petroleum refinery, operated by Irving Oil, is located in Saint John, NB. In general, with the exception of Nova Scotia and Prince Edward Island, all provinces have some refining capacity, although the Northern territories also lack refineries.Due to the lack of effective cross-country pipelines, the location of a refinery determines the crude oil it can access. Western Canada is mostly landlocked, which limits the markets from which industry operators can purchase crude oil. Cru...purchase to read more.

    Additional Insights for the Petroleum Refining Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Petroleum Refining Industry are

  • Access to crude oil supplies
  • Directly operate retail and wholesale stations
  • Access to efficient and environmentally-friendly technology
  • IBISWorld analysts also discuss how external factors such as World price of crude oil and Canadian-dollar effective exchange rate index in the Petroleum Refining industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Petroleum Refining Industry?

    This industry refines crude petroleum through cracking and distillation to produce gasoline, diesel fuels and other fuel oils.

    Industry Products
  • Gasoline
  • Diesel fuel
  • Fuel oils
  • Aviation fuel
  • Other petroleum products
  • Industry Activities
  • gasoline
  • diesel fuels
  • fuel oil
  • aviation fuel
  • heating oil
  • liquefied petroleum gases
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of crude oil
  • Canadian-dollar effective exchange rate index
  • US Gross domestic product (GDP)
  • Demand from truck transportation
  • New vehicle sales

  • Current Performance
  • Price fluctuations and industry profitability
  • Rising Demand
  • International trade expands
  • Stagnant growth in infrastructure
  • Chart: Revenue Growth

  • Industry Outlook
  • Economic growth revives demand
  • Refining capacity stalls
  • International trade strengthens
  • Table: Petroleum Refining Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Petroleum Refining Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Petrochemical Manufacturing in Canada
  • Gasoline & Petroleum Bulk Stations in Canada
  • Gas Stations with Convenience Stores in Canada
  • International Airlines in Canada
  • Scheduled Air Transportation in Canada

  • Key Selling Industries
  • Electric Power Transmission in Canada
  • Gasoline & Petroleum Bulk Stations in Canada
  • Oil & Gas Pipeline Construction in Canada
  • Oil Drilling & Gas Extraction in Canada
  • Oil Pipeline Transportation in Canada

  • Products & Services
  • Gasoline
  • Diesel fuel
  • Other petroleum products
  • Fuel oils
  • Aviation fuel
  • Chart: Petroleum Refining Industry Products and Services Segmentation

  • Demand Determinants
  • Domestic demand
  • International demand

  • Major Markets
  • Exports
  • Industrial
  • Consumers
  • Commercial
  • Aviation
  • Chart: Major Market Segmentation for the Petroleum Refining Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesRent and utilitiesWagesDepreciationMarketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Petroleum Refining

  • Basis of Competition
    Internal CompetitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Petroleum Refining Industry

  • Industry Globalization
    Imperial Oil Ltd., Suncor Energy Inc., Shell Canada Ltd., Federated Co-operatives Limited, Irving Oil,
  • Table: Imperial Oil Ltd. - financial performance
  • Table: Suncor Energy Inc. - financial performance
  • Table: Shell Canada Ltd. - financial performance
  • Table: Federated Co-operatives Limited - financial performance
  • Table: Irving Oil - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Petroleum Refining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Petroleum Refining Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • World Price of Crude Oil (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A unit of measure for crude oil and petroleum products. One cubic metre is equal to about 6.3 barrels.
  • In Situ
  • Oil sand extraction technique where steam or solvents are injected into oil sand reserves to lower viscosity, permitting oil to flow into wells.
  • Refining Margin
  • Difference between the value of refined petroleum products and cost of crude oil inputs. Profit margin for petroleum refineries.
  • Viscosity
  • The "thickness" of crude oil and petroleum products. Low viscosity crude oil typically has lower refining costs.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Petroleum Refining market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Petroleum Refining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Petroleum Refining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Petroleum Refining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.