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VGO Market (Vacuum Gas Oil) Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: July, 2022
No of Pages: 153
Delivery Format: PDF + Excel

$2,950.00

The global Vacuum Gas Oil (VGO) market size was valued at USD 1949.2 million and it is expected to reach USD 2916.6 million by the end of 2030, with a CAGR of 5.8% during 2022-2030.

Increasing Demand for Lower Sulphur Vacuum Gas Oil to Bolster the Industry Growth

The lower sulphur VGO dominated the global vacuum gas oil industry in 2020 owing to its low sulphur content, making it an attractive blending feedstock for manufacturers aiming to fulfill the regulations set by government organisations. Low sulphur VGO contains around 0.5-0.6% sulphur, and, thus, is being extensively adopted by manufacturers. Meanwhile, the light vacuum gas oil segment is expected to grow at the highest CAGR over the forecast period owing to its increased utilisation for cracking to obtain gasoline and diesel.

North America to Dominate the Vacuum Gas Oil Industry

North America is the leading regional market in the industry driven by the growing automobile sales, coupled with the presence of well-developed refining and cracking facilities in the region. The Asia Pacific is expected to witness the highest CAGR over the forecast period owing to the growing per capita energy demand and increased oil consumption in in the region, particularly in emerging nations like China and India. The growing urbanisation trend and rapid industrialisation in these nations is driving the demand for oil, which in turn, is aiding the global vacuum gas oil industry.

Vacuum Gas Oil (VGO) Market  Report Scope and Segmentation

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Vacuum Gas Oil: Market Segmentation

Vacuum gas oil or VGO refers to heavy oil left over from petroleum distillation, which can be further refined in a catalytic cracking unit, upgrading vacuum gas oil into the products with greater value, that is, gasoline and diesel. If not upgraded, it is blended into residual fuel oil. It is an important intermediate feedstock which has the capacity to increase the output of valuable diesel and gasoline from refineries.

On the basis of type, the industry is divided into:

  • Heavy Vacuum Gas Oil
  • Light Vacuum Gas Oil

Heavy vacuum gas oil (HVGO) and light vacuum gas oil (LVGO) can be processed by some advanced FCC processes. However, to transform LVGO and HVGO into light and middle distillates (e.g., kerosene and diesel fuel), hydrocracking is more frequently used, which is carried out using hydrogen and particular catalysts.

On the basis of sulphur content, the industry is segmented into:

  • Lower Sulphur Content
  • High Sulphur Content
  • Others

It has applications in:

  • Gasoline Production
  • Diesel Oil/Kerosene Production
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Increasing Demand for Gasoline and Diesel to Augment the Vacuum Gas Oil Industry Growth

The global vacuum gas oil industry is being driven by the growing demand for gasoline and diesel across the globe. Gasoline is used to fuel internal combustion engines for motorbikes, trucks, boats, and other transport vehicles while highly refined gasoline may find application as aviation fuel. The growth of the automobile industry will lead to increase in demand for gasoline and diesel, thus, further aiding the vacuum gas oil industry. With the rising consumer disposable income, both in developed and developing nations, the demand for luxury vehicles is further increasing, which in turn, is contributing to the industry growth.

With the growing expenditure in research and development activities and rapid advancement in technology, manufacturing process at vacuum gas oil units is becoming simper, which is substantially aiding the industry growth. The growing product demand from the Asia Pacific region is expected to create new opportunities for the industry growth over the forecast period.

Key Industry Players in the Global Vacuum Gas Oil Market

The report gives a detailed analysis of the following key players in the global vacuum gas oil market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansion, and plant turnarounds:

  • PJSC Lukoil
  • Kuwait Petroleum Corporation
  • Honeywell International Inc
  • Vertex Energy Inc
  • Husky Energy Inc.
  • Others
REPORT FEATURESDETAILS
Base Year2021
Historical Period2017-2021
Forecast Period2022-2030
Scope of the ReportHistorical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Sulphur Content, Application, Region
Breakup by TypeHeavy, Light
Breakup by Sulphur ContentLower Sulphur Content, High Sulphur Content, Others
Breakup by ApplicationGasoline Production, Diesel Oil/Kerosene Production, Others
Breakup by RegionNorth America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market DynamicsSWOT, Porter’s Five Forces, Key Indicators for Price and Demand
Price AnalysisHistorical and Forecast Price Trends-Regional
Competitive LandscapeMarket Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies CoveredPJSC Lukoil, Kuwait Petroleum Corporation, Honeywell International Inc, Vertex Energy Inc, Husky Energy Inc., Others
Report Price and Purchase OptionExplore our purchase options that are best suited to your resources and industry needs.
Delivery FormatDelivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*We at MWR always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

 

Table of content

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

3.1    Market Definition and Outlook
3.2    Properties and Applications
3.3    Market Analysis
3.4    Key Players
4    Key Assumptions
5    Executive Summary

5.1    Market Overview
5.2    Key Drivers
5.3    Key Developments
5.4    Competitive Structure
5.5    Key Industrial Trends
6    Snapshot
6.1    Global
6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vacuum Gas Oil Market Analysis

8.1    Key Industry Highlights
8.2    Global Vacuum Gas Oil Historical Market (2017-2021)
8.3    Global Vacuum Gas Oil Market Forecast (2022-2027)
8.4    Global Vacuum Gas Oil Market by Type
8.4.1    Heavy
8.4.1.1    Market Share
8.4.1.2    Historical Trend (2017-2021)
8.4.1.3    Forecast Trend (2022-2027)
8.4.2    Light
8.4.2.1    Market Share
8.4.2.2    Historical Trend (2017-2021)
8.4.2.3    Forecast Trend (2022-2027)
8.5    Global Vacuum Gas Oil Market by Sulphur Content
8.5.1    Lower Sulphur Content
8.5.1.1    Market Share
8.5.1.2    Historical Trend (2017-2021)
8.5.1.3    Forecast Trend (2022-2027)
8.5.2    High Sulphur Content
8.5.2.1    Market Share
8.5.2.2    Historical Trend (2017-2021)
8.5.2.3    Forecast Trend (2022-2027)
8.5.3    Others
8.6    Global Vacuum Gas Oil Market by Application
8.6.1    Gasoline Production
8.6.1.1    Market Share
8.6.1.2    Historical Trend (2017-2021)
8.6.1.3    Forecast Trend (2022-2027)
8.6.2    Diesel Oil/Kerosene Production
8.6.2.1    Market Share
8.6.2.2    Historical Trend (2017-2021)
8.6.2.3    Forecast Trend (2022-2027)
8.6.3    Others
8.7    Global Vacuum Gas Oil Market by Region
8.7.1    Market Share
8.7.1.1    North America
8.7.1.2    Europe
8.7.1.3    Asia Pacific
8.7.1.4    Latin America
8.7.1.5    Middle East and Africa
9    Regional Analysis
9.1    North America
9.1.1    Historical Trend (2017-2021)
9.1.2    Forecast Trend (2022-2027)
9.1.3    Breakup by Country
9.1.3.1    United States of America
9.1.3.2    Canada
9.2    Europe
9.2.1    Historical Trend (2017-2021)
9.2.2    Forecast Trend (2022-2027)
9.2.3    Breakup by Country
9.2.3.1    United Kingdom
9.2.3.2    Germany
9.2.3.3    France
9.2.3.4    Italy
9.2.3.5    Others
9.3    Asia Pacific
9.3.1    Historical Trend (2017-2021)
9.3.2    Forecast Trend (2022-2027)
9.3.3    Breakup by Country
9.3.3.1    China
9.3.3.2    Japan
9.3.3.3    India
9.3.3.4    ASEAN
9.3.3.5    Australia
9.3.3.6    Others
9.4    Latin America
9.4.1    Historical Trend (2017-2021)
9.4.2    Forecast Trend (2022-2027)
9.4.3    Breakup by Country
9.4.3.1    Brazil
9.4.3.2    Argentina
9.4.3.3    Mexico
9.4.3.4    Others
9.5    Middle East and Africa
9.5.1    Historical Trend (2017-2021)
9.5.2    Forecast Trend (2022-2027)
9.5.3    Breakup by Country
9.5.3.1    Saudi Arabia
9.5.3.2    United Arab Emirates
9.5.3.3    Nigeria
9.5.3.4    South Africa
9.5.3.5    Others
10    Market Dynamics
10.1    SWOT Analysis
10.1.1    Strengths
10.1.2    Weaknesses
10.1.3    Opportunities
10.1.4    Threats
10.2    Porter’s Five Forces Analysis
10.2.1    Supplier’s Power
10.2.2    Buyers Power
10.2.3    Threat of New Entrants
10.2.4    Degree of Rivalry
10.2.5    Threat of Substitutes
10.3    Key Indicators for Demand
10.4    Key Indicators for Price
11    Price Analysis
11.1    North America Historical Price Trends (2017-2021) and Forecast (2022-2027)
11.2    Europe Historical Price Trends (2017-2021) and Forecast (2022-2027)
11.3    Asia Pacific Historical Price Trends (2017-2021) and Forecast (2022-2027)
11.4    Latin America Historical Price Trends (2017-2021) and Forecast (2022-2027)
11.5    Middle East & Africa Historical Price Trends (2017-2021) and Forecast (2022-2027)
12    Competitive Landscape
12.1    Market Structure
12.2    Company Profiles
12.2.1    PJSC Lukoil
12.2.1.1    Company Overview
12.2.1.2    Product Portfolio
12.2.1.3    Demographic Reach and Achievements
12.2.1.4    Certifications
12.2.2    Kuwait Petroleum Corporation
12.2.2.1    Company Overview
12.2.2.2    Product Portfolio
12.2.2.3    Demographic Reach and Achievements
12.2.2.4    Certifications
12.2.3    Honeywell International Inc
12.2.3.1    Company Overview
12.2.3.2    Product Portfolio
12.2.3.3    Demographic Reach and Achievements
12.2.3.4    Certifications
12.2.4    Vertex Energy Inc
12.2.4.1    Company Overview
12.2.4.2    Product Portfolio
12.2.4.3    Demographic Reach and Achievements
12.2.4.4    Certifications
12.2.5    Husky Energy Inc.
12.2.5.1    Company Overview
12.2.5.2    Product Portfolio
12.2.5.3    Demographic Reach and Achievements
12.2.5.4    Certifications
12.2.6    Others
13    Industry Events and Developments

Segmentation

On the basis of sulphur content, the industry is segmented into:

  • Lower Sulphur Content
  • High Sulphur Content
  • Others

It has applications in:

  • Gasoline Production
  • Diesel Oil/Kerosene Production
  • Others

Companies

  • PJSC Lukoil
  • Kuwait Petroleum Corporation
  • Honeywell International Inc
  • Vertex Energy Inc
  • Husky Energy Inc.
  • Others

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