Global renewable refinery production capacity is expected to more than triple from 8,994 million gallons per year in 2024 to 27,486 million gallons per year in 2028.
North America’s renewable refinery production capacity is expected to reach 14,355 million gallons per year in 2028, the highest among all regions globally.
Europe and Asia follow with 4,717 million gallons per year and 4,284 million gallons per year, respectively.
Among countries, the US leads globally with the highest renewable production capacity additions of 8,989 million gallons per year by 2028.
Of this, 7,120 million gallons per year capacity is likely to come from new-build projects and the rest of the capacity is from the expansion of existing projects.
Panama follows the US with an estimated capacity addition of 1,733 million gallons per year by 2028 through the standalone Ciudad Dorada Renewable refinery.
To be operated by SGP BioEnergy Holdings, it is expected to start operations by 2027.
Canada is expected to witness the third-highest renewable refinery capacity additions of 1,671 million gallons per year by 2028, of which 1,586 million gallons per year of capacity would be from newly built refineries while the rest of the capacity would be from expansion projects that are expected to start operations by 2028.
Globally, approximately 58% of the upcoming renewable refinery projects are in the feasibility stage, followed by the construction stage with 18%.
Further details of renewable refinery production capacity outlook can be found in leading data and analytics company GlobalData’s new report: Renewable Refineries Capacity and Capital Expenditure Outlook by Region, Countries, Companies, Projects and Forecast to 2028.
