World News: 17:33 GMT Wednesday 17th April 2019. [Reports And Data via Globe Newswire via SPi World News]
NEW YORK, April 17, 2019 (GLOBE NEWSWIRE) -- The global vacuum gas oil market is expected to reach USD 509.60 Billion by 2026, according to a new report by Reports and Data. Vacuum gas oil finds application as an intermediate feedstock that can improve the output of valuable diesel and gasoline in refineries. Lightweight shale crude oils like Eagle Ford can produce vacuum gas oil direct from primary distillation.
Vacuum gas oil is processed in one of two kinds of catalytic cracking units. These cracking units deploy a combination of catalysts (substances that accelerate or decelerate the rate of chemical reaction) to crack vacuum gas oil into lighter gasoline blending components and diesel oil. A fluid catalytic cracker (FCC) is usually used to process light vacuum gas oil (LVGO) and a hydrocracker is deployed to process heavy vacuum gas oil (HVGO). Both kinds of cracker yield gasoline blending components and diesel but the fluid catalytic cracker produces more gasoline and the hydrocracker produces more diesel. One difference between the two cracking units is that the hydrocracker implements a feed of hydrogen to eliminate sulfur and other impurities from the gasoline and diesel fuels that are produced in the process. By addition of hydrogen, the hydrocracking unit also increases the volume of diesel and gasoline output – by as much as 20% in comparison to the vacuum gas oil input.
Asia pacific market is projected to observe highest growth rate in the market with a growth a rate of 5.5% in the forecast period. This is primarily owing to the increasing demand of oil in the countries in this region, particularly in China and India.
For the purpose of this report, Reports and Data have segmented global vacuum gas oil market on the basis of product, sulfur content, application and region:
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Globe Newswire: 17:33 GMT Wednesday 17th April 2019
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