Kerosene refining segment engages in the extraction of kerosene products from crude petroleum products. Kerosene is derived from petroleum and is used to fuel rocket engines, lighting fuel, and in industries such as chemicals and agriculture. It is also widely used as jet fuel to power aircraft.
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The market was valued at $149 billion in 2017, and it is expected to be driven by rise in demand for energy fuels in emerging markets of the world. Asia Pacific was the largest geographic region in kerosene market in 2017, accounting for thirty-five percent of the global market.
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The USA was the largest country in the kerosene market in 2017, accounting for one-fifth of the global market share.
The refined petroleum products manufacturing market can be easily split into diesel, gasoline, fuel oil, kerosene and others out of which diesel comprises of one fourth of the market followed by gasoline which comprises more than one-fourth of the market and rest of the market is shared by kerosene, fuel oil and others.
The top five competitors in the market are Royal Dutch Shell, Exxon Mobil Corporation, BP Plc, Chevron, and LUKOIL PJSC. Royal Dutch Shell is one of the largest multinational oil and gas company, leading in kerosene market. It is headquartered in the Netherlands and operates in the areas of the oil and gas industry, including exploration and production, refining, petrochemicals, power generation transport, and distribution and marketing and trading.
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