The global vacuum gas oil market is expected to reach USD 509.60 Billion by 2028, according to a new report by Reports and Data. Vacuum gas oil finds application as an intermediate feedstock that can improve the output of valuable diesel and gasoline in refineries. Lightweight shale crude oils like Eagle Ford can produce vacuum gas oil direct from primary distillation.
Vacuum gas oil is processed in one of two kinds of catalytic cracking units. These cracking units deploy a combination of catalysts (substances that accelerate or decelerate the rate of chemical reaction) to crack vacuum gas oil into lighter gasoline blending components and diesel oil. A fluid catalytic cracker (FCC) is usually used to process light vacuum gas oil (LVGO) and a hydrocracker is deployed to process heavy vacuum gas oil (HVGO). Both kinds of cracker yield gasoline blending components and diesel but the fluid catalytic cracker produces more gasoline and the hydrocracker produces more diesel. One difference between the two cracking units is that the hydrocracker implements a feed of hydrogen to eliminate sulfur and other impurities from the gasoline and diesel fuels that are produced in the process. By addition of hydrogen, the hydrocracking unit also increases the volume of diesel and gasoline output – by as much as 20% in comparison to the vacuum gas oil input.
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The report presents a panoramic view of the competitive landscape of the Vacuum Gas Oil market, covering details about the key manufacturers and companies, price analysis, revenue estimation, gross profit margins, business expansion plans, and other vital details that offers the readers deep insights into each company operating in the industry. The report also focuses on strategic alliances in the Vacuum Gas Oil market, such as mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, licensing agreements, partnerships, corporate and government deals, and others.
Top Players Analyzed in the Report are:
Axeon, Kuwait Petroleum Corporation, Shell, U.S. Oil and Refining, KazMunaiGaz, TAIF-NK, NESTE, Vertex, Soils Oil and Lukoil among others.
Competitive Landscape:
Rise in competition in the global market has led to increasing innovation and technological advancement in the power and energy sector to meet the rising demand of environmentally conscious consumers. Key players in the global Vacuum Gas Oil market are adopting the strategy of forward integration to offer alternate source of energy at economical rates.
This market report provides detailed analysis of recent developments, production processes, value chain optimization, opportunities in terms of emerging revenue pockets, impact of domestic and localized market players, application niches and technological innovations in the market.
Further key findings from the report suggest
- The light vacuum gas oil is forecasted to have the highest growth rate of 5.2% in the forecast period. Fluid catalytic cracking units deploy a combination of catalytic heat and pressure to crack light vacuum gas oil into 70% gasoline and 30% diesel.
- Low Sulfur VGO is estimated to occupy the largest market share in the forecast period with USD 219.46 Billion in 2018. Low sulfur VGO has a sulfur content of around 0.5-0.6%, this level of sulfur in LSVGO makes an attractive blending feedstock for manufacturers targeting to get on-specification bunker fuel as per the norms of IMO.
- In times of low domestic demand in the market of Europe, up to 75% of all VGO supply gets exported to the US Gulf Coast, making Russian oil loading in either the Baltics or the Black Sea very price-sensitive to the market in the US Gulf Coast.
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For the purpose of this report, Reports and Data have segmented global vacuum gas oil market on the basis of product, sulfur content, application and region:
Product (Volume, Million Barrels; 2016-2026 and Revenue, USD Million; 2016-2026)
- Heavy Vacuum Gas Oil
- Light vacuum gas Oil
Sulfur Content Outlook (Volume, Million Barrels; 2016-2026 and Revenue, USD Million; 2016-2026)
- Low Sulfur VGO
- High Sulfur VGO
Application Outlook (Volume, Million Barrels; 2016-2026 and Revenue, USD Million; 2016-2026)
- Gasoline Production
- Diesel Oil/Kerosene Production
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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