Vacuum Gas Oil Market is predicted to reach USD 1.81 billion at a CAGR of 5.70% during the forecast period

Market Research Future (MRFR) has published on the “Global Vacuum gas oil Market”.

MRFR recognizes the following companies as the key players in the global vacuum gas oil market— LUKOIL, TAIF-NK, KazMunayGas, Axeon Specialty Products, Neste, Vertex Refining, Honeywell UOP, Gazprom Neft, Kuwait Petroleum Corporation, Zhejiang Petrochemical Corporation, and U.S. Oil & Refining Co.

Market Highlights

The global vacuum gas oil market is accounted to register a CAGR of 5.70% during the forecast period and is estimated to reach USD 1.81 Billion by 2032.

Vacuum petrol oil (VGO) is a refined petroleum product that refineries employ as a feedstock for additional processing. It is produced by vacuum distilling crude oil. VGO is a crucial ingredient in the creation of diesel, petrol and other refined goods. The operation of refineries and the global demand for petroleum products both influence market demand.

Segment Analysis

The global vacuum gas oil market has been segmented based Product, Sulfur Content, and Application.

On the basis of Product, the market is segmented into Light Vacuum Gas Oil (LVGO), Heavy Vacuum Gas Oil (HVGO). The light vacuum petrol oil (LVGO) segment dominated with 65.45% of market sales. On a worldwide scale, the demand for lighter refined goods—such as petrol and naphtha—is typically greater than the demand for heavier items.

Based on sulfur content, the global vacuum gas oil market has been segmented into Low Sulfur Vacuum Gas Oil, High Sulfur Vacuum Gas Oil. The Low Sulphur Vacuum Gas Oil category brought in the most money. Governments around the world have implemented severe regulations to reduce emissions from industrial operations and transportation fuels.

Based on Application, the global vacuum gas oil market has been segmented into Gasoline Production, Diesel Oil Production. The category that brought in the greatest money was diesel oil production. Many industries, including transportation, industrial machinery, and power generation, depend on diesel fuel.

Regional Analysis

The global vacuum gas oil market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe vacuum gas oil market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The vacuum gas oil market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World vacuum gas oil market comprises of Middle East, Africa, and Latin America.

The North America Vacuum Gas Oil Market dominated this market in 2022 (45.80%). The need for transport fuels like petrol and diesel is a big issue in North America.

Moreover, the second-largest market share belongs to the vacuum gas oil market in Europe. Refineries have undergone tremendous modernization and improvement across Europe in order to meet with stricter environmental regulations. Refineries in the region have made investments in technology like hydrocracking and hydrotreating to produce cleaner and low-sulfur fuels. Because these processes usually require greater quantities of the material, VGO is an essential component of the European refining industry.

Additionally, from 2023 to 2032, the Vacuum Gas Oil Market in Asia-Pacific is anticipated to experience the quickest CAGR growth. Urbanisation, industrialization, and the emergence of the middle class have all been expedited by the APAC region's rapid economic expansion. This growth has led to an increase in energy demand, particularly in countries like China and India. The expanding industrial and transportation sectors in APAC are a contributing factor in the increase in demand for refined commodities, especially VGO.

Furthermore, the production and refining of crude oil in the region has an impact on the vacuum petrol oil market in Latin America. Market dynamics are influenced by elements like rising energy demand, refinery expansions, and the demand for refined petroleum products. The market's expansion is linked to the region's broader petrochemical and energy industries.

Key Findings of the Study

• The global vacuum gas oil market is expected to reach USD 1.81 Billion by 2032, at a CAGR of 5.70% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the Rapid economic development in the APAC area has accelerated urbanisation, industrialization, and the creation of the middle class.


• Based on sulfur content, the low sulphur vacum gas oil segment was attributed to holding the largest market in 2022.


• LUKOIL, TAIF-NK, KazMunayGas, Axeon Specialty Products, Neste, Vertex Refining, Honeywell UOP, Gazprom Neft, Kuwait Petroleum Corporation, Zhejiang Petrochemical Corporation, and U.S. Oil & Refining Co.