Press release
Vacuum Gas Oil Industry Outlook 2025-2029: Market Set to Cross $587.24 Billion Milestone
Vacuum Gas Oil
How Large Will the Vacuum Gas Oil Market Size By 2025?
The market size for vacuum gas oil has witnessed robust growth in the past few years. The forecast shows the market value evolving from $439.43 billion in 2024 up to $465.57 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.9%. Influencing factors for this historic growth include refinery broadening, the evolution of the petroleum industry, changes in crude oil grades, environmental rule implementations, and the worldwide energy requirement.
How Big Is the Vacuum Gas Oil Market Size Expected to Grow by 2029?
In the coming years, the market size of vacuum gas oil is anticipated to experience robust growth, expanding to a value of "$587.24 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The expansion in the forecast period can be credited to factors such as trade dynamics, the demand for refined products, worldwide economic development, environmental ordinances, and energy transformation initiatives. The prediction period also brings with it key trends such as refining margins optimization, increased demand for cleaner fuel sources, advancements in upgrading technologies, a shift in crude oil blending techniques, and residue conversion.
View the full report here:
https://www.thebusinessresearchcompany.com/report/vacuum-gas-oil-global-market-report
Which Key Market Drivers Powering Vacuum Gas Oil Market Expansion and Growth?
The surge in the need for fossil fuels is predicted to drive the expansion of the vacuum gas oil market in the future. Fossil fuels are naturally occurring hydrocarbon-rich substances formed in the earth's crust from the remnants of extinct flora and fauna, including coal, petroleum, natural gas, oil shale, bitumen, tar sands, and heavy oils. The amalgamation of bio-oil and vacuum gas oil introduces renewable carbon to fossil fuels, reducing biofuel production expenses. For example, in August 2024, the Department of Climate Change, Energy, the Environment, and Water, a governmental body based in Australia, reported that energy use increased by 2.0% in 2022-23, reaching 5,882 petajoules (an uptick of 117 petajoules). Consequently, the rising demand for fossil fuels is propelling the development of the vacuum gas oil market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10460&type=smp
Which Fast-Growing Trends Are Poised to Disrupt the Vacuum Gas Oil Market?
Emerging technologies play a significant role in the evolution of the vacuum gas oil market, with companies incorporating novel methods to maintain their market status. For example, in March 2022, Honeywell, an American petroleum technology company, announced that SPEC Energy DMCC would be implementing its various technologies at a refinery. The purpose is to transition less valuable vacuum gas oil and vacuum filtrate into more worthwhile commodities like petrol and alkylate. One of the employed technologies will be the UOP Residue Fluidized Catalytic Cracking Technology, known for enhancing gasoline yield. These market shifts have an impact on refinery arrangements. Mild hydrocracking technology allows manufacturers to transform 20-60% of the VGO feeds into high-grade cat cracker feedstocks and a specified volume of middle distillates.
What Are the Emerging Segments in the Vacuum Gas Oil Market?
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
Subsegments:
1) By Heavy Vacuum Gas Oil: Hydrocracking Feedstock, Fuel Oil Blending, Other Applications
2) By Light Vacuum Gas Oil: Diesel Production, Naphtha Production, Other Applications
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=10460&type=smp
Who Are the Global Leaders in the Vacuum Gas Oil Market?
Major companies operating in the vacuum gas oil market include Kuwait Petroleum Corporation, Exxon Mobil Corporation, KazMunayGas, Par Pacific Holdings Inc., Shell Plc, Neste Oyj, Vertex Energy Inc., The PJSC Lukoil Oil Company, Honeywell International Inc., Zhejiang Petroleum and Chemical Co. Ltd., PJSC Gazprom, Cenovus Energy Inc., Marathon Oil Company, IRPC Public Company Limited, Chevron Corporation, China National Petroleum Corporation, Eni SpA, Indian Oil Corp. Ltd., Axeon Specialty Products, U.S. Oil & Refining Co., Tatneft, PJSC Rosneft Oil Company, PTT Public Company Limited, S-Oil Corporation, SK Innovation Co. Ltd., Thai Oil Public Company Limited, Valero Energy Corporation, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Reliance Industries Limited, Abu Dhabi National Oil Company, Bahrain Petroleum Company (Bapco)
Which are the Top Profitable Regional Markets for the Vacuum Gas Oil Industry?
North America was the largest region in the vacuum gas oil market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global vacuum gas oil market during the forecast period. The regions covered in the vacuum gas oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=10460
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Vacuum Gas Oil Industry Outlook 2025-2029: Market Set to Cross $587.24 Billion Milestone here
News-ID: 4098107 • Views: …
More Releases from The Business Research Company
Global Surge In Air Pollution Propels Growth In The Industrial Air Filtration Ma …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Industrial Air Filtration Industry Market Size Be by 2025?
Over the past several years, the industrial air filtration market has seen robust growth. Expected to increase from $14.97 billion in 2024 to $15.79 billion in 2025, it will experience a compound annual growth rate (CAGR) of…
Steady Expansion Forecast for Heavy Construction Equipment Market, Projected to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Heavy Construction Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of heavy construction equipment has seen significant expansion in the past few years. The market, which is expected to rise from $204.24 billion in 2024 to $215.46 billion in 2025, will…
Form-Fill-Seal Equipment Industry Outlook 2025-2029: Market Set to Cross $23.82 …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Form-Fill-Seal Equipment Market Size By 2025?
The market for form-fill-seal equipment has experienced gradual expansion in recent times. It's projected to rise from $17.81 billion in 2024 to $18.62 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The growth in previous…
Top Market Shifts Transforming the Filtration & Drying Equipment Market Landscap …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Filtration & Drying Equipment Market Through 2025?
Recent years have seen a robust increase in the size of the filtration & drying equipment market. Forecasts show a market rise from $1.94 billion in 2024 to $2.06 billion in 2025, with a Compound…
More Releases for Oil
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.
Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021…
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The…
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028.
Glance our 200 slides market research and competitive intelligence research report,…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market
The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,…
