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Very Low Sulphur Fuel Oil (VLSFO) Market Share
- Report ID: GMI6304
- Published Date: Jul 2023
- Report Format: PDF
Very Low Sulphur Fuel Oil Market Share
The major industry players operating in very low sulphur fuel oil market are
- China Petroleum & Chemical Corporation (Sinopec)
- BP PLC
- Shell Plc
- Chevron Corporation
- Saudi Arabian Oil Co. (Saudi Aramco)
- Indian Oil Corporation (IOCL)
- TotalEnergies
- Exxon Mobil Corporation
- ROSNEFT
- Mediterranean Fuels
- Hindustan Petroleum Corporation Limited (HPCL)
- Vitol
- VIVA ENERGY GROUP
- Phillip 66
- Marathon Petroleum
Frequently Asked Questions (FAQ) :
The market size of very low sulphur fuel oil reached USD 48.6 billion in 2022 and will witness 19% CAGR from 2023 to 2032, due to the implementation of IMO 2020 regulations for significant reduction in sulfur emissions from ships.
Asia Pacific market size is estimated to cross USD 131.9 billion by 2032, owing to the adoption of the International Maritime Organization's (IMO) 2020 regulations in the region.
China Petroleum & Chemical Corporation (Sinopec), BP PLC, Shell Plc, Chevron Corporation, Saudi Arabian Oil Co. (Saudi Aramco), Indian Oil Corporation (IOCL), TotalEnergies, Exxon Mobil Corporation, ROSNEFT, and Mediterranean Fuels are some of the key companies.
The COVID-19 pandemic had limited impact on the very low sulphur fuel oil industry owing to the introduction of IMO 2020 norms that made it mandatory for the shipowners to utilize the low sulphur fuel in the ships.
Very Low Sulphur Fuel Oil Market Scope
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