Vacuum Gas Oil Market size was valued at USD 369.40 Billion in 2023 and the Vacuum Gas Oil Market revenue is expected to reach USD 488.45 Billion by 2030, at a CAGR of 5.8 % over the forecast period.
Vacuum Gas Oil Market Report Overview:
A heavy oil byproduct of petroleum distillation and shale oil extraction is vacuum petrol oil (VGO). It is an oil gas created in a distillery vacuum refinement machine that is semi-liquid. For fluid catalytic crackers, which produce transportation fuels and other byproducts, VGO is a crucial feedstock. Diesel and petrol can be combined with components that are produced from the refinement of VGO in a catalytic cracking unit. Because it can be processed to make additional petrol, VGO has a higher value than crude oil and is traded based on its sulphur level.
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Vacuum Gas Oil Market Report Scope and Research Methodology:
The rising demand for petrol and diesel is driving the global market for hoover petrol oil (VGO). Fuel consumption has increased as a result of the increase in e-commerce and the number of delivery trucks on the road. A further factor in the rising demand is the construction sector's heavy reliance on diesel-powered equipment. Also, as the world's need for electricity rises, diesel generators are becoming more and more popular as backup power solutions. Over the course of the forecast period, these factors are anticipated to propel the expansion of the vacuum gas oil market.
The development of the vacuum petrol oil market is significantly influenced by technological developments in refining procedures. Advancements in refining technology fulfil strict environmental criteria, improve overall refining capabilities, and increase the efficiency of VGO conversion into lucrative end products. One of the composites and a widely used process in petroleum filters is fluid catalytic cracking.
Vacuum Gas Oil Market Regional Insights:
The research covers a detailed analysis of the market size and dynamics in North America, Canada, Mexico, Europe, Germany, France, Spain, Italy, Rest of Europe, Asia-Pacific, China, India, Japan, Australia, Korea, ASEAN countries, rest of APAC, South America, Brazil, Middle East and Africa.
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Vacuum Gas Oil Market Segmentation:
by Product
Heavy Vacuum Gas Oil
Light Vacuum Gas Oil
by Sulfur Content
Low Sulfur VGO
High Sulfur VGO
by Application
Gasoline Production
Diesel Oil/Kerosene
Others
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Vacuum Gas Oil Market Key Players:
1. TAIF-NK (Russia)
2. Kuwait Petroleum Corporation (Kuwait)
3. KazMunayGas (Kazakhstan)
4. Shell (U.S.)
5. Zhejiang Petroleum Chemical Co Ltd, (China)
6. Neste (Finland)
7. Vertex (U.S.)
8. LUKOIL (Russia)
9. Exxon Mobil Corporation (U.S.)
10. Saudi Arabian Oil Co. (Saudi Arabia)
11. China National Petroleum Corporation (China)
12. BP plc (U.K.)
13. Shell plc (U.K.)
14. PDVSA - Petróleos de Venezuela, SA. (Venezuela)
15. Gazprom (Russia)
16. Chevron Corporation. (U.S.)
17. Petrobras (Brazil)
18. LUKOIL (Russia)
19. ROSNEFT (Russia)
20. Abu Dhabi National Oil Company (U.A.E)
21. China Petrochemical Corporation. (China)
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Key questions answered in the Vacuum Gas Oil Market are:
- What is Vacuum Gas Oil ?
- What are the Vacuum Gas Oil market segments?
- What is the expected Vacuum Gas Oil market size by 2030?
- What is the expected CAGR of the Vacuum Gas Oil market during the forecast period?
- What are the emerging trends in the Vacuum Gas Oil Market?
- What are the factors contributing to the final price of Vacuum Gas Oil ?
- What are the major challenges that the Vacuum Gas Oil Market could face in the future?
- Who held the largest market share in the Vacuum Gas Oil Market?
- Who are the key players in the Vacuum Gas Oil industry?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size Forecast by different segment | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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