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Report Overview
The global vacuum gas oil (VGO) market size reached around USD 406.80 Billion in 2024. The market is projected to grow at a CAGR of 5.30% between 2025 and 2034 to reach nearly USD 681.81 Billion by 2034. The global vacuum gas oil market is being driven by the rising demand for gasoline, which is primarily consumed as a fuel for transportation. Among various applications of vacuum oil, the gasoline production segment dominates the industry globally. The world vacuum gas oil market is experiencing consistent growth, fueled by increasing energy demand and growing emerging markets. As an important feedstock in sophisticated refining operations, vacuum gas oil is a vital component in the production of gasoline and diesel. The growing demand for fuel and petrochemical products also fuels market growth. Stringent environmental regulations, however, are compelling refiners to use cleaner technologies, affecting supply dynamics. Notwithstanding these challenges, continuous developments in refining processes ensure the ongoing relevance of vacuum gas oil in the energy industry. The future of the market is still determined by changing regulations and shifts in demand globally.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Key Industry Players in the Global Vacuum Gas Oil Market
The market for vacuum gas oil is very competitive, with the large players concentrating on refining technology and regulatory compliance. The leading players in the market are ExxonMobil, Shell, Chevron, TotalEnergies, Saudi Aramco, and Sinopec, which are using advanced technologies to improve the efficiency of VGO processing. Greater investments in low-sulfur VGO production and hydrocracking units are defining the competitive landscape. Besides, merger, collaboration, and refinery expansion are the principal strategies behind market growth amidst evolving fuel policies and energy use.
- LUKOIL
- Kuwait Petroleum Corporation
- Honeywell International Inc
- Vertex Refining
- Husky Energy Inc.
- TAIF-NK
- KazMunayGas
- Axeon Specialty Products
- Neste
- Gazprom Neft
- Zhejiang Petrochemical Corporation
- S. Oil & Refining Co.
- Others
Vacuum Gas Oil Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global vacuum gas oil (VGO) market is expected to grow at a CAGR of 5.30% between 2025 and 2034.
The growing demand for gasoline and diesel across the globe, the growing transportation sector, and rapid urbanisation are the major market drivers.
The key trends guiding the market include rapid industrialisation and technological advancements and innovations.
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant types of vacuum gas oil are heavy and light.
The major segments on the basis of sulphur content considered in the market report are lower sulphur content and high sulphur content, among others.
The various applications of vacuum gas oil are gasoline production and diesel oil/kerosene production, among others.
Key companies in the vacuum gas oil market include LUKOIL, Kuwait Petroleum Corporation, Honeywell International Inc, Vertex Refining, Husky Energy Inc., TAIF-NK, KazMunayGas, Axeon Specialty Products, Neste, Gazprom Neft, Zhejiang Petrochemical Corporation, and S. Oil & Refining Co., among others.
The global vacuum gas oil (VGO) market is driven by the rising demand for gasoline, primarily consumed as a fuel for transportation.
The largest market share for vacuum gas oil is held by North America, due to high refining capacities and strong demand for gasoline and diesel.
The gasoline production segment dominates the vacuum gas oil industry globally.
Low-sulfur vacuum gas oil holds the largest market share, driven by environmental regulations and increasing demand for cleaner fuel.
In 2024, the market attained a value of nearly USD 406.80 Billion.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 681.81 Billion by 2034.
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