NAICS Code 324110-10 - Petroleum Products (Manufacturing)

Marketing Level - NAICS 8-Digit

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NAICS Code 324110-10 Description (8-Digit)

Petroleum Products (Manufacturing) is a subdivision of the NAICS Code 324110 that involves the production of various petroleum products through refining crude oil. This industry is responsible for transforming crude oil into a range of products such as gasoline, diesel fuel, jet fuel, heating oil, lubricants, and asphalt. The refining process involves separating the different components of crude oil through distillation, cracking, and other chemical processes. The resulting products are then treated and blended to meet specific quality and performance standards.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 324110 page

Tools

Tools commonly used in the Petroleum Products (Manufacturing) industry for day-to-day tasks and operations.

  • Distillation towers
  • Catalytic crackers
  • Hydrocrackers
  • Desulfurization units
  • Alkylation units
  • Isomerization units
  • Fractionation columns
  • Vacuum distillation units
  • Blending equipment
  • Heat exchangers
  • Pumps
  • Compressors
  • Valves
  • Analytical instruments (e.g. gas chromatographs, spectrometers)

Industry Examples of Petroleum Products (Manufacturing)

Common products and services typical of NAICS Code 324110-10, illustrating the main business activities and contributions to the market.

  • Gasoline production
  • Diesel fuel production
  • Jet fuel production
  • Heating oil production
  • Lubricant production
  • Asphalt production
  • Petroleum jelly production
  • Wax production
  • Solvent production
  • Chemical feedstock production

History

A concise historical narrative of NAICS Code 324110-10 covering global milestones and recent developments within the United States.

  • The Petroleum Products Manufacturing industry has a long and rich history dating back to the mid-19th century when the first oil refinery was built in Romania. The industry has since grown to become a vital part of the global economy, with the United States being one of the largest producers and consumers of petroleum products. Notable advancements in the industry include the development of the catalytic cracking process in the 1940s, which allowed for the production of higher-octane gasoline, and the introduction of the fluid catalytic cracking process in the 1970s, which increased the yield of gasoline from crude oil. In recent history, the industry has faced challenges such as the 2014 oil price crash, which led to a decline in demand for petroleum products, and the increasing focus on renewable energy sources. However, the industry has continued to innovate and adapt to changing market conditions, with advancements in technology and the development of new products such as biofuels.