NAICS 324199 - All Other Petroleum and Coal Products Manufacturing
This U.S. industry comprises establishments primarily engaged in manufacturing petroleum products (except asphalt paving, roofing, and saturated materials and lubricating oils and greases) from refined petroleum and coal products made in coke ovens not integrated with a steel mill.
Industry trends:
The "NAICS 324199, All Other Petroleum and Coal Products Manufacturing" industry is witnessing several qualitative trends. A significant trend is the increasing demand for cleaner energy sources and a gradual shift towards more sustainable practices within the sector. Companies are investing in research and development to produce low-carbon and renewable petroleum-based products, driven by stringent environmental regulations and consumer preference for greener products. This shift also includes advancements in carbon capture and storage technologies to mitigate greenhouse gas emissions during production processes.
Another emerging trend is digitization and automation. The industry is incorporating advanced technologies like AI, IoT, and big data analytics to streamline operations, enhance efficiency, and reduce operational costs. By leveraging these technologies, firms aim to optimize supply chain management, predictive maintenance, and real-time monitoring of production facilities.
In terms of forecasts for the near future, the industry is expected to see a moderate growth rate, bolstered by global economic recovery post-pandemic. However, companies may face challenges like fluctuating crude oil prices, geopolitical tensions, and evolving regulatory landscapes. Innovating within the realm of alternative fuels and sustainable practices will be crucial for maintaining competitive edge and market relevance.
This industry is comprised of:
Boulets (i.e., fuel bricks) made from refined petroleum
Briquettes, petroleum, made from refined petroleum
Calcining petroleum coke from refined petroleum
Coke oven products (e.g., coke, gases, tars) made in coke oven establishments
Fuel briquettes or boulets made from refined petroleum
Oil-based additives made from refined petroleum
Petroleum jelly made from refined petroleum
Petroleum waxes made from refined petroleum
Road oils made from refined petroleum
Waxes, petroleum, made from refined petroleum
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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