Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Brazil Vacuum Gas Oil Market Size

The Brazil vacuum gas oil market is projected to grow at a CAGR of 6.7% between 2024 and 2032, due to the increasing demand for low-sulphur vacuum gas oil.

Brazil Vacuum Gas Oil Market Report Summary Description Value
Base Year USD Million 2023
Historical Period USD Million 2018-2023
Forecast Period USD Million 2024-2032
Market Size 2023 USD Million XX
Market Size 2032 USD Million XX
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 6.7%
CAGR 2024-2032 - Market by Region Minas Gerais 8.5%
CAGR 2024-2032 - Market by Region Bahia 7.8%
CAGR 2024-2032 - Market by Type Low Sulfur Vacuum Gas Oil 7.3%
CAGR 2024-2032 - Market by Application Gasoline Production 7.5%
Market Share by Region Rio Grande do Sul 7.3%

Brazil Vacuum Gas Oil Market Outlook

  • In 2019, an average Brazilian took 0.5 airplane journeys to different domestic and international destinations.
  • Over 75% of costs involved in asphalt production are associated with feedstock.
  • Brazil’s aviation industry is responsible for meeting nearly 18% of the transportation requirements of Brazilians.

Brazil Vacuum Gas Oil Market Growth

In 2021, the average jet fuel consumption in Latin America was 8.21 thousand barrels per day, with nations such as Mexico (60.41 tbpd), Colombia (21.42 tbpd), and Chile (17.38 tbpd). Brazil, which is the second largest aviation market in Latin America, carried 68.89 million passengers between January and September 2022. This led to an improvement of 78.19% in traffic levels post the COVID-19 pandemic.

Major market players like LATAM Airlines (with a market share of 20%), TAP Air Portugal (10.57%), GOL (5.33%), and Azul (5.06%) are expected to play a crucial role in aircraft operation at major domestic and international airports. Between 2008 and 2019, the Brazilian aviation market grew at a rate of 7% annually. The anticipated market growth is expected to raise the demand for jet fuel over the forecast period, thereby accelerating the demand for vacuum gas oil.

Vacuum gas oil is extensively used in asphalt production in Brazil. Asphalt plays a critical role in enhancing the durability of roads and manufacturing roofing systems for houses. Fuel costs represent nearly 12% of the overall cost of asphalt production in Brazil. Other main costs such as equipment maintenance, infrastructure, plant transport, and electricity, among others, represent less than 10% of the costs. This is expected to drive the market growth in the forecast period.

Brazil Vacuum Gas Oil Market

Brazil Vacuum Gas Oil Industry Segmentation

Brazil Vacuum Gas Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

  • Light Vacuum Gas Oil (LVGO)
  • Heavy Vacuum Gas Oil (HVGO)

Market Breakup by Type

  • Low Sulphur Vacuum Gas Oil
  • High Sulphur Vacuum Gas Oil
CAGR 2024-2032 - Market by Type
Low Sulfur Vacuum Gas Oil 7.3%
High Sulfur Vacuum Gas Oil XX%

Market Breakup by Application

  • Gasoline Production
  • Diesel Oil Production
CAGR 2024-2032 - Market by Application
Gasoline Production 7.5%
Diesel Oil Production XX%

Market Breakup by Region

  • São Paulo
  • Minas Gerais
  • Rio de Janeiro
  • Bahia
  • Rio Grande do Sul 
CAGR 2024-2032 - Market by Region
Minas Gerais 8.5%
Bahia 7.8%
São Paulo 7.0%
Rio de Janeiro XX%
Rio Grande do Sul XX%
Others XX%

Brazil Vacuum Gas Oil Market Share

Based on region, the market is segmented into São Paulo, Minas Gerais, Rio de Janeiro, Bahia, and Rio Grande do Sul. Rio Grande do Sul is projected to dominate the market, representing 7% of the overall market share. Over the forecast period, Minas Gerais is expected to grow at a CAGR of 8.5%, due to the growing production of oil and diesel.

Market Share by Region
Rio Grande do Sul 7.3%
São Paulo XX%
Minas Gerais XX%
Rio de Janeiro XX%

Leading Companies in the Brazil Vacuum Gas Oil Market

With the anticipated growth of crude oil extraction and production, the applications for vacuum gas oil are expected to surge significantly across a wide range of sectors, including industrial furnaces and marine diesel production, among others.

  • BP Plc
  • Petróleo Brasileiro S.A
  • Others

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Type
  • Application
  • Region
Breakup by Product
  • Light Vacuum Gas Oil (LVGO)
  • Heavy Vacuum Gas Oil (HVGO)
Breakup by Type
  • Low Sulphur Vacuum Gas Oil
  • High Sulphur Vacuum Gas Oil
Breakup by Application
  • Gasoline Production
  • Diesel Oil Production
Breakup by Region
  • São Paulo
  • Minas Gerais
  • Rio de Janeiro
  • Bahia
  • Rio Grande do Sul
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BP Plc
  • Petróleo Brasileiro S.A.
  • Others

*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 market is projected to grow at a CAGR of 6.7% between 2024 and 2032.

The different products in the market are light vacuum gas oil and heavy vacuum gas oil.

The different types of vacuum gas oil include low-sulphur vacuum gas oil and high-sulphur vacuum gas oil.

Vacuum gas oil is extensively used in the production of gasoline and diesel oil.

The different regions covered in the market report are São Paulo, Minas Gerais, Rio de Janeiro, Bahia, and Rio Grande do Sul.

The key market players are BP Plc, Petróleo Brasileiro S.A., among others.

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