Petroleum & Coal Products Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/18/2017
SIC Codes: 2911, 2951, 2952, 2992, 2999
NAICS Codes: 3241
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Petroleum & Coal Products Manufacturing Industry Profile

Companies in this industry refine crude oil and coal into fuel, asphalt products, lubricating oils, and other products. Major companies include US-based Chevron, Exxon Mobil, Marathon, and Valero, as well as Bharat Petroleum (India), Caltex Australia, Idemitsu Kosan (Japan), Sinopec (China), and Suncor Energy (Canada), .

Worldwide, the petroleum refining industry processes about 80 million barrels of crude oil each day, according to BP's 2017 Statistical Review of World Energy. Global asphalt production is expected to grow about 4% annually through 2025, according to Transparency Market Research.

The US petroleum and coal products manufacturing industry includes about 2,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $500 billion.


Demand is driven by consumption of gasoline and diesel fuel and by construction activity. The profitability of individual companies depends on efficient operations. Larger refinery and asphalt companies enjoy economies of scale, but small companies can compete by producing specialty products that are in high demand. The US industry is highly concentrated: the 50 largest companies account for about 95% of revenue.

Imports of petroleum and coal products account for about 7% of the US market. Major import sources are Canada and Russia. Exports, primarily to Mexico and Canada, account for about 10% of US production.


Major products include gasoline, diesel fuel, and jet fuel; as well as asphalt paving mixtures and asphalt blocks, and roofing and saturated materials. ...

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