Vacuum gas oil or VGO is a vital bridging feedstock that can augment the efficiency of diesel & gas from process plants. It is produced through the vacuum distillation column using various different processes such as hydrogenation and cracking. VGO is also referred to as cat feed as it is used as a feedstock to create gasoline, gasoil and other by-products.
According to analysis, “Global Vacuum Gas Oil (VGO) Market Status (2015-2019)
and Forecast (2020-2024) by Region, Product Type & End-Use”
few of the leading companies operating in the global vacuum gas oil market
include Kuwait Petroleum Corporation, U.S. Oil & Refining, Axeon, Shell and
among others. The key firms are increasingly focusing on the ramping up their
hydro-cracking facilities. The vacuum
gas oil market is categorized on the basis of product, sulfur content, and
application. The product segment is further sub-segmented into light vacuum gas
oil and heavy vacuum gas oil. The light vacuum gas oil segment is projected to
grow at an accelerated CAGR owing to rise in use of light vacuum gas oil in
cracking in order to obtain gasoline & diesel during the forecast period. Heavy
vacuum gas oil can also be used as a feedstock for producing the lubricating
oil base stock by a sequence of solvent extraction processes to remove the
aromatic hydrocarbons by furfural extraction, and also to remove the long-chain
paraffin by de-waxing. Additionally, the application segment is categorized
into diesel oil/kerosene production and gasoline production. As low sulfur VGO
makes an excellent feed-stock to obtain the gasoline & other high-octane
components, the gasoline production segment is likely to grow at the highest
CAGR during the forecast period.
By regional analysis, vacuum
gas oil market is divided into North-America, Asia-Pacific, Europe and rest
of the world. The North-America is a leading region in global market due to
increase in investment in R&D activities and rise in demand of gasoline
& diesel for automotive across the region. The Asia-Pacific region is
anticipated to exhibit substantial growth rate owing to rise in need for bunkering
fuel in the developing economies like India and China over the forecast period.
Additionally, the Middle East & Africa region is also anticipated to
exhibit substantial growth rate because of large unconventional reserves
discoveries along with vast exploration & production (E&P) activities
during the forecast period. It is predicted that future of the global vacuum
gas oil market will be optimistic on account of presence of the well-developed
refining & cracking facilities and rapid industrialization coupled with
growth in per capita energy demand during the forecast period.
For More Information, refer to
below link:-
Global
Vacuum Gas Oil (VGO) Market
Contact
Us:-
Ken
Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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