The Vacuum Gas Oil Global Market Report 2023, provides comprehensive information on the vacuum gas oil market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Vacuum Gas Oil Global Market Report 2023, the market size is expected to grow from $388.53 billion in 2022 to $416.85 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vacuum gas oil market size is expected to reach $520.24 billion in 2027 at a CAGR of 5.7%.
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Technological advancements are a key trend gaining popularity in the vacuum gas oil market. Companies operating in the vacuum gas oil market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Honeywell, a US-based technology provider for petroleum manufacturers, reported that SPEC Energy DMCC will use its various technologies at its refinery to convert less valuable vacuum gas oil and vacuum filtrate into valuable products such as petrol and alkylate. One of the technologies is UOP Residue Fluidized Catalytic Cracking Technology, which is used to improve gasoline yield.
The vacuum gas oil market 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
North America was the largest region in the vacuum gas oil market in 2022.
The table of contents in TBRC’s vacuum gas oil market report includes:
- Executive Summary
- Vacuum Gas Oil Market Characteristics
- Vacuum Gas Oil Market Trends And Strategies
- Vacuum Gas Oil Market – Macro Economic Scenario
- Vacuum Gas Oil Market Size And Growth
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- Africa Vacuum Gas Oil Market
- Vacuum Gas Oil Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Vacuum Gas Oil Market
- Vacuum Gas Oil Market Future Outlook and Potential Analysis
- Appendix
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