GlobalData’s latest report, “Global Capacity and Capital Expenditure Outlook for Refineries, 2022,” indicates that global coking capacity is expected to witness a growth of 10.3% over the next four years, potentially increasing from 10.2 million barrels per day (MMbd) in 2022 to 11.3MMbd by 2026.
Asia’s coking capacity is expected to reach 4.2MMbd in 2026, the highest among all regions globally. North America follows with a capacity of 3.6MMbd.
In terms of capacity additions, Asia would lead globally during the 2022 to 2026 outlook period. Asia is expected to add 689 thousand barrels per day (Mbd) of coking capacity by 2026. It would be followed by North America and the Middle East.
The Jieyang refinery in China, Dos Bocas in Mexico, and Panjin II in China are the top three upcoming refineries globally in terms of coking capacity from 2022 to 2026. The Jieyang is expected to start operations with a capacity of 152.6Mbd, followed by Dos Bocas and Panjin II with 105.4Mbd and 93.0Mbd, respectively.