Renewable Refineries Capacity and Capital Expenditure Outlook by Region, Countries, Companies, Projects and Forecast to 2028<\/strong><\/a>, shows that North America is likely to add a renewable refinery capacity additions of 10,659 million gallons per annum (mmgy) during 2024-28, followed by Europe and Asia with 3,053mmgy and 2,818mmgy, respectively.<\/p>\n\n\n\nBhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “With several countries focusing on net-zero emissions, the demand for renewable fuels such as sustainable aviation fuel (SAF) and renewable diesel is growing rapidly. This rising demand is leading to significant capacity expansions, particularly in North America, Asia, and Europe.<\/p>\n\n\n\n
The US is expected to witness the highest renewable refinery production capacity additions in North America as well as globally. The country is expected to add 8,989mmgy capacity by 2028 from several planned and announced projects.<\/p>\n\n\n\n
Panama, Canada, and China are the other key countries that are expected to add considerable renewable refinery production with 1,733mmgy, 1,671mmgy, and 1,191mmgy of capacity additions by 2028, respectively.<\/p>\n\n\n\n
Gandham concludes: “Global renewable refinery capacity additions are mainly expected to occur through standalone renewable refineries (67%) during the outlook period. Capacity additions from refinery co-processing and refinery conversion will account for 22% and 11%, respectively during 2024-28.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Global consumption of renewable fuels produced in refineries is increasing due to environmental concerns about fossil fuels, technological advances, and growing regulations on carbon emissions. As a result, global renewable refinery capacity additions are growing rapidly, with North America expected to drive the capacity additions among all the regions globally, says GlobalData, the data and …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[246,10822,11194],"class_list":["post-28121","post","type-post","status-publish","format-standard","","category-news-views-and-opinion","tag-globaldata","tag-north-america","tag-renewable-refinery-capacity"],"yoast_head":"\n
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