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Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Report and Forecast 2024-2032
Market Report I 2023-11-21 I 155 Pages I EMR Inc.
Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Middle East and North Africa vacuum bottom residue (kerosene, VGO and bitumen) market is projected to grow at a CAGR of 4.4% between 2024 and 2032. Aided by the region's dominant position in the global oil and petroleum industry and its evolving infrastructure needs, the market is expected to grow significantly by 2032.
Vacuum Bottom Residue is a critical output derived from the vacuum distillation column in refineries. It primarily consists of heavier petroleum products like Kerosene, VGO, and Bitumen. These products hold paramount importance, serving as key constituents in industries such as aviation, road construction, and fuel processing. With the MENA region's historic ties to petroleum extraction and processing, the Vacuum Bottom Residue market's potential growth trajectory appears promising.
As per the Middle East and North Africa vacuum bottom residue (Kerosene, VGO and Bitumen) market analysis, the demand for kerosene in the region is closely tied to its use in aviation. As major hubs like Dubai, Doha, and Riyadh continue to position themselves as global transit centers, the need for kerosene, an essential jet fuel, has surged. Additionally, kerosene's domestic applications for heating and lighting in certain areas further augment its market position.
Vacuum Gas Oil (VGO) serves as a pivotal intermediate for producing gasoline and diesel fuels which also contributes to the Middle East and North Africa vacuum bottom residue (Kerosene, VGO and Bitumen) market growth. Given the substantial fuel demands of rapidly growing economies in the region, VGO is witnessing increasing demand. Its utility in Fluid Catalytic Cracking to yield valuable liquid products further solidifies its importance in the market.
Bitumen, primarily used in road construction and roofing, has seen its demand rise due to the booming infrastructure development across the MENA region. Countries like the UAE, Qatar, and Saudi Arabia have embarked on massive construction projects, from skyscrapers to expansive highways, boosting the need for high-quality bitumen, and propelling the Middle East and North Africa vacuum bottom residue (Kerosene, VGO and Bitumen) market demand.
Several factors are stimulating the MENA Vacuum Bottom Residue market. Firstly, technological advancements in refining processes have enhanced the efficiency and yield of Vacuum Bottom Residue products. Secondly, the region's strategic endeavours to diversify economies, reduce dependency on crude oil exports, and focus on downstream petroleum industries also increases the value of the Middle East and North Africa vacuum bottom residue (Kerosene, VGO and Bitumen) market size.
Market Segmentation
The market can be divided based on segment and country.
Market Breakup by Segment
- Kerosene
o By Type
- Naphthenic
- Paraffinic
o By Application
- Cooking
- Lighting
- Heating and Others
- Vacuum Gas Oil
o By Type
- LVGO
- HVGO
o By Application
- Gasoline Production
- Diesel Production
- Others
- Bitumen
o By Grade
- 40/50
- 60/70
o By Type
- High Sulphur
- Low Sulphur
o By Application
- Road Building
- Roofing
- Others
Market Breakup by Country
- Saudi Arabia
- UAE
- Oman
- Kuwait
- Jordan
- Qatar
- Iraq
- Bahrain
- Egypt
- Morocco
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Middle East and North Africa vacuum bottom residue (Kerosene, VGO and Bitumen) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Wataniya Group
- Majd al-Iraq Company
- ISAB S.r.l.
- Al Salam Al Massi Co (ASAMCO)
- Phoenix Refinery
- Aran Asphalt Factory
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Analysis
8.1 Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Historical Market (2018-2023)
8.2 Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Forecast (2024-2032)
8.3 Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market by Segment
8.3.1 Kerosene
8.3.1.1 Market Share
8.3.1.2 Historical Trend (2018-2023)
8.3.1.3 Forecast Trend (2024-2032)
8.3.1.4 Market Share by Type
8.3.1.4.1 Naphthenic
8.3.1.4.2 Paraffinic
8.3.1.5 Market Share by Application
8.3.1.5.1 Cooking
8.3.1.5.2 Lighting
8.3.1.5.3 Heating and Others
8.3.2 Vacuum Gas Oil
8.3.2.1 Market Share
8.3.2.2 Historical Trend (2018-2023)
8.3.2.3 Forecast Trend (2024-2032)
8.3.2.4 Market Share by Type
8.3.2.4.1 LVGO
8.3.2.4.2 HVGO
8.3.2.5 Market Share by Application
8.3.2.5.1 Gasoline Production
8.3.2.5.2 Diesel Production
8.3.2.5.3 Others
8.3.3 Bitumen
8.3.3.1 Market Share
8.3.3.2 Historical Trend (2018-2023)
8.3.3.3 Forecast Trend (2024-2032)
8.3.3.4 Market Share by Grade
8.3.3.4.1 40/50
8.3.3.4.2 60/70
8.3.3.5 Market Share by Type
8.3.3.5.1 High Sulphur
8.3.3.5.2 Low Sulphur
8.3.3.6 Market Share by Application
8.3.3.6.1 Road Building
8.3.3.6.2 Roofing
8.3.3.6.3 Others
8.4 Middle East and North Africa Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market by Country
8.4.1 Market Share
8.4.1.1 Saudi Arabia
8.4.1.2 UAE
8.4.1.3 Oman
8.4.1.4 Kuwait
8.4.1.5 Jordan
8.4.1.6 Qatar
8.4.1.7 Iraq
8.4.1.8 Bahrain
8.4.1.9 Egypt
8.4.1.11 Iran
8.4.1.10 Morocco
8.4.1.11 Others
9 Regional Analysis
9.1 Saudi Arabia
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 UAE
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Oman
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Kuwait
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Jordon
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Qatar
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Iraq
9.7.1 Historical Trend (2018-2023)
9.7.2 Forecast Trend (2024-2032)
9.8 Bahrain
9.8.1 Historical Trend (2018-2023)
9.8.2 Forecast Trend (2024-2032)
9.9 Egypt
9.9.1 Historical Trend (2018-2023)
9.9.2 Forecast Trend (2024-2032)
9.10 Iran
9.10.1 Historical Trend (2018-2023)
9.10.2 Forecast Trend (2024-2032)
9.10 Morocco
9.10.1 Historical Trend (2018-2023)
9.10.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Key Indicators for Demand
10.3 Key Indicators for Price
11 Middle East and North Africa Trade Data Analysis
11.1 Kerosene Import and Export Statistics, 2018-2028
11.2 VGO Import and Export Statistics, 2018-2028
11.3 Bitumen Import and Export Statistics, 2018-2028
12 Price Analysis
12.1 Spot/Retail
12.2 Bulk/Wholesale - Domestic
12.3 Export (FOB)
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profile
13.2.1 Wataniya Group
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Majd Al Iraq Company
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 ISAB S.r.l.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Al Salam Al Massi Co (ASAMCO)
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Phoenix International A/S
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Aran Asphalt Factory
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Middle East and North America Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market: Key Industry Highlights, 2018 and 2032
2. Middle East and North America Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Historical Market: Breakup by Segment (USD Million), 2018-2023
3. Middle East and North America Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Forecast: Breakup by Segment (USD Million), 2024-2032
4. Kerosene Import and Export Statistics, 2018-2028
5. VGO Import and Export Statistics, 2018-2028
6. Bitumen Import and Export Statistics, 2018-2028
7. Middle East and North America Vacuum Bottom Residue (Kerosene, VGO and Bitumen) Market Structure
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