Precision Business Insights has published a report on the global vacuum gas oil market, estimating its value at USD 96.1 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 27.4% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/vacuum-gas-oil-market

Market Definition:

Crude oil is vacuum-distilled to produce vacuum gas oil (VGO), a petroleum product. Mostly utilized in catalytic cracking units to create lighter fuels like gasoline and diesel, it functions as an intermediate feedstock in refineries. Depending on its composition, VGO is divided into two categories: Light Vacuum Gas Oil (LVGO) and Heavy Vacuum Gas Oil (HVGO).

Drivers:

1)      Rising demand for refined products.

2)      Expanding energy needs of industrial and transportation sector.

The global vacuum gas oil market segmentation:
1) By Product Type: Heavy Vacuum Gas Oil and Light Vacuum Gas Oil.
2) By Sulfur content: Low Sulfur VGO and High Sulfur VGO.
3) By Application: Gasoline Production and Diesel Oil/Kerosene Production.

Regional Overview:
The report also examines the current concerns and their Future Effects on the vacuum gas oil market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the vacuum gas oil market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like TAIF-NK, Kuwait Petroleum Corporation, Exxon Mobil Corporation, KazMunayGas, S. Oil & Refining Co., Shell plc, Zhejiang Petrochemical Corporation, Neste, Solis Oil, Vertex Energy Inc., LUKOIL.

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