Vacuum Gas Oil Market (2020-2026) Manufacturing Analysis by Conditions, Competitors, Product Price, Profit, Capacity, Production and Future Forecast | Axeon, Kuwait Petroleum Corporation, Shell

The global vacuum gas oil market is expected to reach USD 509.60 Billion by 2026, 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.

Asia pacific market is projected to observe highest growth rate in the market with a growth a rate of 5.5% in the forecast period. This is primarily owing to the increasing demand of oil in the countries in this region, particularly in China and India.

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The report includes the latest coverage of the impact of COVID-19 on the Vacuum Gas Oil industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

The emerging and present key participants in the Vacuum Gas Oil market are:

Axeon, Kuwait Petroleum Corporation, Shell, U.S. Oil and Refining, KazMunaiGaz, TAIF-NK, NESTE, Vertex, Soils Oil and Lukoil among others.

Profitability scope and Prospects

The key participants who have shown tremendous growth in the Vacuum Gas Oil market have been included in the report. In the report, data from 2016 to 2018, shows that some of the companies have shown enormous sales revenues, with the net revenue being doubled and the profits continually increasing. The profitability of the products being sold by the company indicates the influence and competitive advantage these companies have over the others.

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

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Regional Outlook (Revenue in USD Million; 2016–2026)

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

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.

-At present, the typical usage for low sulfur VGO is used as a feedstock for fluid catalytic cracking (FCC) units in order to yield gasoline and other high-octane components. Blending prospects for feedstocks into the 0.5% bunker pool will possibly depend on product cracks values in 2020 in Europe and US, which are the key global markets for vacuum gas oil.

-Europe is the largest vacuum gas oil exporting region in the world, whereas the US Gulf Coast is the largest consumer across the globe.

-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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Objectives of the study:

Our panel of expert analysts specializing in the value chain has conducted an exhaustive, industry-wide study to offer readers accurate insights into the future of the Vacuum Gas Oil market and give key market players authentic information derived via both primary and secondary sources of data collection. Additionally, the report also comprises of inputs from our consultants, which can help companies make the most of the available market opportunities. It also offers a detailed breakdown of the sales of Vacuum Gas Oil and the factors that could potentially influence the growth of the industry. The information provided in this report will be able to help readers capitalize on the available growth prospects.

Current scenario of the Vacuum Gas Oil market

The year’s overall performance might not be that encouraging as other market segments like cloud-based and on-premises that have shown modest gains. The growth scenario might change with other companies trying to come up with more ambitious plans. Unlike the past, decent growth and consumption have been observed in the United States, EU, Japan, China, India & Southeast Asia, and many growth opportunities lie ahead for the companies.

About the growth prospects and rising competition

The participants plan to introduce new products and launch them into various markets around the globe, considering the applications/end-uses, such as Small and Medium Enterprises (SMEs) & Large Enterprises. The report also evaluates some latest innovative products that are vital and may be introduced in EMEA markets in the last quarter of 2019 and 2020.

The Vacuum Gas Oil Market report addresses the following questions:

What is the regulatory framework governing the application of Vacuum Gas Oil in the food industry?

What is the estimated growth rate of Vacuum Gas Oil for the forecast period from 2020 to 2026?

Which end-use industry is expected to have the highest demand for Vacuum Gas Oil by the year 2026?

Which manufacturing processes are utilized for the production of Vacuum Gas Oil?

Which are the leading regions for Vacuum Gas Oil Market players that are aiming to expand their product portfolio?

The full version of this report is available @ https://www.reportsanddata.com/report-detail/vacuum-gas-oil-market

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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This release was published on openPR.