The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Vacuum Gas Oil Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Vacuum Gas Oil Market:
https://www.thebusinessresearchcompany.com/report/vacuum-gas-oil-global-market-report
According to The Business Research Company’s Vacuum Gas Oil Global Market Report 2024, The vacuum gas oil market size has grown strongly in recent years. It will grow from $416.85 billion in 2023 to $442.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to refinery expansion, petroleum industry growth, shift in crude oil grades, environmental regulations, global energy demand.The vacuum gas oil market size is expected to see strong growth in the next few years. It will grow to $554.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
The rising demand for fossil fuels is expected to drive the growth of the vacuum gas oil market in the future. Fossil fuels are natural hydrocarbon-based substances formed from the decomposition of organic matter over millions of years. These fuels include coal, petroleum, natural gas, and others. Vacuum gas oil (VGO) is a type of petroleum fraction that is used as a feedstock in various refining processes to produce fuels such as gasoline and diesel. Additionally, co-processing bio-oil with VGO can enhance the sustainability of fossil fuels by incorporating renewable carbon sources and reducing production costs for biofuels. For example, Eurostat reported a 13.7% increase in solid fossil fuel consumption in 2021 compared to the previous year, with a recorded lowest value of approximately 426.66 million tons in 2020. Therefore, the growing demand for fossil fuels is a key driver of the vacuum gas oil market’s expansion.
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The vacuum gas oil market covered in this report is segmented –
1) By Type: Heavy Vacuum Gas Oil, Light Vacuum Gas Oil
2) By Sulphur Content: Low Sulfur Vacuum Gas Oil, High Sulfur Vacuum Gas Oil
3) By Application: Gasoline Production, Diesel Oil Or Kerosene Production, Other Applications
Top Major Players
TAIF Management Company JSC,
Kuwait Petroleum Corporation,
Exxon Mobil Corporation,
KazMunayGas,
Par Pacific Holdings Inc.
The vacuum gas oil market report table of contents includes:
1. Executive Summary
- Vacuum Gas Oil Market Characteristics
- Vacuum Gas Oil Market Trends And Strategies
- Vacuum Gas Oil Market – Macro Economic Scenario
- Global Vacuum Gas Oil Market Size and Growth
- Vacuum Gas Oil Market Segmentation
- Vacuum Gas Oil Market Regional And Country Analysis
…………
- Key Mergers And Acquisitions In The Vacuum Gas Oil Market
- Vacuum Gas Oil Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Vacuum Gas Oil Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Vacuum Gas Oil Market, Segmentation By Sulphur Content, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Vacuum Gas Oil Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………….
Table 74: TAIF Management Company JSC Financial Performance
Table 75: Kuwait Petroleum Corporation Financial Performance
Table 76: Exxon Mobil Corporation Financial Performance
Table 77: KazMunayGas Financial Performance
Table 78: Par Pacific Holdings Inc. Financial Performance
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