Global renewable refinery production capacity is expected to increase from 5,758 million gallons per year (mmgy) in 2022 to 21,239mmgy in 2026, registering a total growth of 269%.
North America is expected to have the highest renewable production capacity at 10,942mmgy in 2026. Asia and Europe follow next with 3,641mmgy and 3,288mmgy, respectively.
Among countries, the US leads globally with the highest renewable production capacity of 8,324mmgy by 2026. Of this, 6,428mmgy capacity is likely to come from newbuild projects, and the rest of the capacity is from the expansion of existing projects.
Panama follows the US with an estimated capacity addition of 1,733mmgy by 2026 through a standalone Ciudad Dorada Renewable refinery. To be operated by SGP BioEnergy Holdings LLC, it is expected to start operations by 2025.
Singapore is expected to witness the third-highest renewable refinery capacity additions of 1,132mmgy by 2026. Of these, 966mmgy of capacity is likely from an expansion of the existing Singapore Renewable refinery, while the rest of the capacity would be from the newbuild Pulau Bukom Renewable refinery project that is expected to start operations by 2026.
Further details of renewable refinery production capacity outlook can be found in GlobalData’s new report, ‘Renewable Refineries New Build and Expansion Projects Analysis by Type, Development Stage, Key Countries, Region and Forecasts, 2022-2026’.