GlobalData’s latest report, ‘Global Liquids Storage Industry Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals’, says that the global capacity increased from 1,224,210 thousand cubic metres (mcm) in 2015 to 1,372,770 mcm in 2020 at an average annual growth rate (AAGR) of 2.3%. It is expected to increase from 1,372,770 mcm in 2020 to 1,536,983 mcm in 2025 at the same AAGR.
US, China, Japan, India, and South Korea are the major countries that accounted for 57% of the total capacity of the world in 2020.
The US had the highest capacity globally in 2020 with 393,665 mcm. China, Japan, South Korea, and India reported the capacity of 213,812.8 mcm, 97,247.3 mcm, 39,429.7 mcm, and 32,382.9 mcm respectively. China witnessed the highest capacity growth during 2015-2020 with an AAGR of 7.7% among the key countries, followed by India with 6.5%.
Liquids Storage Industry, Global, Liquids storage Capacity Share vis-à-vis Growth by Key Countries, 2015–2020
Globally, 155 countries have active liquids storage terminals with a total storage capacity of 1,372,770 mcm in 2020. Freeport V, West Hackberry, Big Hill, Bayou Choctaw, and Clovelly, all in the US, are some of the largest active terminals in the world.
By 2025, 192 new terminals are expected to commence operations globally. Zhanjiang IV (China), Selayar (Indonesia), Fujairah XVIII (United Arab Emirates), and Chandikhol (India) are some of the largest upcoming liquids storage terminals in the world during the outlook period 2021-2025.