• North America is poised to take a leading role in the global surge of renewable fuel consumption.

Biofuel Industry News

North America is poised to take a leading role in the global surge of renewable fuel consumption.

Sep 27 2023

GlobalData's latest report, titled 'Renewable Refineries Capacity And Capital Expenditure (CapEx) Forecast By Region, Companies And Projects, 2023-2027,' projects that North America will experience the most substantial capacity expansions among all regions. By 2027, North America is anticipated to achieve a renewable refinery production capacity of 13,142 million gallons per year (mmgy). In comparison, Europe and Asia are expected to reach 3,882 mmgy and 3,522 mmgy, respectively.

Bhargavi Gandham, an Oil and Gas Analyst at GlobalData, underscores the global shift toward carbon emission reduction initiatives as part of ambitious net-zero emission targets. This shift is driving heightened demand for renewable refinery fuels, such as sustainable aviation fuel (SAF) and renewable diesel, on a global scale. Consequently, this increased demand is spurring significant capacity expansions, with a particular focus on regions like North America, Asia, and Europe.

The United States is slated to lead both North America and the world in renewable refinery production capacity additions, with an estimated 8,987 mmgy to be added by 2027 through numerous planned and announced projects. Other notable countries in North America, such as Panama, Canada, and the Netherlands, are also expected to make substantial contributions to renewable refinery production capacity additions, with projections of 1,733 mmgy, 1,347 mmgy, and 872 mmgy, respectively, by 2027.


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