Refinery Vacuum Distillation Units Market Trends, Active Key Players, and Growth Projection Up to 2030

Vacuum distillation is a part of the refining process that helps to produce petroleum products out of the heavier oils left over from atmospheric distillation. About 80% of the refineries operating in the U.S. have a vacuum distillation unit, a secondary processing unit consisting of vacuum distillation columns. As the name vacuum distillation implies, the distillation column is under a vacuum or significantly less than the atmospheric pressure of 760 millimeters of mercury (mmHg). At low pressures, the boiling point of the ADU bottoms is low enough that lighter products can vaporize without cracking, or degrading, the oil.

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The growth of the refinery vacuum distillation units market is expected to be driven by a high reliance on crude oil for fossil fuels and plastic goods. Furthermore, capacity expansion and new crude oil refinery projects globally are driving the growth of the refinery vacuum distillation units market. However, high equipment costs may hinder the growth of the refinery vacuum distillation units market during the forecast period.

The global refinery vacuum distillation units market growth is driven by an increase in petroleum products in the coming future. Furthermore, oil is a major component employed in the process of power generation. With the rising consumption rate of electricity across the world, the demand in the global refinery vacuum distillation units market has correspondingly increased. Moreover, one of the key drivers of the refinery vacuum distillation units market is the growing demand for the petrochemicals used to make plastics. However, the growth of the refinery vacuum distillation units market is restrained by factors such as lack of funds, delay in commissioning projects, acquiring lands, and increasing adoption of electric vehicles in developed and developing nations across the world.

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The global refinery vacuum distillation units market is segmented into type and region. On the basis of type, the global refinery vacuum distillation units market is segregated into dry and wet. The dry segment accounted for the largest share in 2020 and is projected to grow at the highest CAGR of 2.2%. This is attributed to the fact that dry refinery vacuum distillation units do not introduce steam into the tower, and are more applicable to gas oil and fuels production.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the largest share of the market in 2020 and is projected to register the highest CAGR of 2.7% during the forecast period.

The global refinery vacuum distillation units industry is consolidated in nature with a few players such as Rufouz Hitek Engineers Pvt. Ltd., GEA Group Aktiengesellschaft, Edgen Murray, Maleta Cyclic Distillation LLC, Maverick Engineering, Inc., Alfa Laval, Busch Group, KURAF MUHENDISLIK, Axens, and Praj Industries, which hold a significant share of the market. These players have been adopting various strategies to gain a higher share or to retain leading positions in the market.

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Key Findings Of The Study

• On the basis of type, the dry segment emerged as the global leader by acquiring more than 73% of the market share in 2020 and is anticipated to continue this trend during the forecast period.
• Region-wise, Asia-Pacific is the major consumer of refinery vacuum distillation units. It accounted for around 35% of the global market share in 2020.

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