Vacuum Gas Oil Market Scope
Vacuum Gas Oil is part of the petroleum hydrocarbon heavy distillate family. Vacuum gas Oil also called as cat feed. It is the feedstock for fluid catalytic crackers used to make gasoline, gasoil, and other products.
The Vacuum Gas Oil market study is segmented by Type (Heavy Vacuum Gas Oil, Heavy Gas Oil, Heavy Vacuum Distillate, Partially Refined Heavy Gas Oil, Vacuum Tower Heavy Gas Oil, Vacuum Tower Sidestream and Cracker Unit Feedstock (Untreated FCCU Feedstock, Heavy Fuel Oil Blending Components, Unfinished Bunker Fuel)), by Application (Gasoline Production and Diesel Oil/Kerosene Production) and major geographies with country level break-up.
The global Vacuum Gas Oil market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Vacuum Gas Oil market throughout the predicted period.
Solis Oil (United States), Kuwait Petroleum Corporation (Kuwait), Axeon (United States), Shell (Netherlands), U.S. Oil & Refining (United States), KazMunaiGaz (Kazakhstan), TAIF-NK (Russia), JSC Mozyr Oil Refinery (Belarus), Honeywell (United States) and World Oil Refining (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Vacuum Gas Oil market by Type, Application and Region.
On the basis of geography, the market of Vacuum Gas Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In Aug 2019, Honeywell selected by the PetroChina Guangdong Petrochemical company for the adoption of advanced heavy oil processing technology in China. This project of PetroChina includes 3.7 million tons per annum unicracking hydrocracking unit that converts heavy vacuum gas oil into raw materials for motor and petrochemicals.
Market Trend
- Increasing Investment on Research and Development Activities
- Light Vacuum Gas Oil Is Being Increasingly Utilized For Cracking In Order To Obtain Gasoline and Diesel
Market Drivers
- Growing Use of VGO to Supply Bunker Fuel
- Rising Demand for the Vacuum Gas Oil from Asia Pacific Countries Such As India and China
Opportunities
- Growing Oil and Gas Industry in Asia Pacific Regions, Due Increasing Demand for Oil
- Strong Opportunity in Europe as the Largest Exporter in the Oil and Gas Industry
Restraints
- High Manufacturing Cost
- High Cost of Raw Materials
Challenges
- Lack of Advanced Technology
- Costly Skilled Manpower
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Vacuum Gas Oil Manufacturers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries