Aggregate Contribution of Asia¬-Pacific Markets to Total Capacity of Emerging Oil Storage Markets to Increase during 2010–2016
The growth of the top 10 emerging oil storage markets will be led by the countries from the Asia-Pacific region. The contribution of the markets from Asia-Pacific to the total capacity of the top 10 emerging oil storage markets in 2010 was 61%. By 2016, this share will increase to 74%. During the same period, the contribution of European markets will decrease from 23% in 2010 to 13% in 2016. Markets from South and Central America and the Middle East and Africa are also expected to experience a decline in their contributions during 2010–2016.
Top 10 Emerging Markets Will Account for 88% of Total Global Oil Storage
Capacity Additions in 2011–2016
Total global oil storage capacity additions during 2011–2016 are expected to reach 117.9 MMcm (million cubic meters) by 2016. Out of the total oil storage capacity addition, capacity additions from the top 10 emerging oil storage markets are estimated to be 104.2 MMcm, equal to about 88% of the total oil storage capacity addition during 2011–2016.
Oil Storage Capacity Will Increase with Growth in Refining Capacity in Top 10
Emerging Markets during 2010–2016
One of the key reasons for the increase in oil storage capacity worldwide is continual increases in total oil refining capacity in the top ten emerging markets.
The increase in the production of petroleum refined products, coupled with the increase in global trade movements has increased the requirement to expand global oil storage capacity. In the top ten emerging markets, oil refining capacity is expected to increase from 801.2 MMtpa (million metric tons per annum) in 2010 to 1,061.3 MMtpa in 2016 at an AAGR (average annual growth rate) of 4.7% during 2010–2016. In the same period, the oil storage capacity of the emerging top ten markets is expected to increase from 106.6 MMcm to 210.9 MMcm at an AAGR of
China Aims to Add Around Half of the Total Number of Planned Oil Storage
Terminals in the Top 10 Emerging Oil Storage Markets by 2016
The top 10 emerging oil storage markets are expected to add 55 oil storage terminals to the total number during 2011–2016. About 50% is expected to be added in China, followed by storage terminals in Malaysia and the United Arab Emirates (UAE). Both Malaysia and the UAE are expected to add 7 oil storage terminals each during 2011–2016.
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“Top 10 Emerging Oil Storage Markets - Analysis, Competitive Landscape and Capacity Forecasts to 2016”, is the latest report from industry analysis specialists GlobalData, which offers comprehensive information on the key emerging oil storage markets. The report provides information on the top 10
emerging oil storage markets, their storage capacity; capacity share, growth share and the capacity additions during 2010–2016. It provides information on the competitive scenario in each of the emerging oil storage markets, in addition to an explanation of the key drivers and limitations present in the emerging
oil storage markets. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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