GlobalData report: Asia to lead global refinery fluid catalytic cracking units’ capacity growth by 2024

Of the total capacity additions, one mmbd is expected to come from new-build planned and announced projects while the remaining 0.2mmbd is likely to come from the expansions of active projects

GlobalData expects Africa to occupy the second place in terms of FCCU capacity additions by 2024.
GlobalData expects Africa to occupy the second place in terms of FCCU capacity additions by 2024.

Asia is expected to lead the global refinery fluid catalytic cracking units’ (FCCU) capacity growth, contributing about 45% of the total global capacity growth by 2024. The region is likely to add 542 thousand barrels per day (mbd) of FCCU capacity by 2024, says GlobalData.

GlobalData’s report, ‘Global Refinery Fluid Catalytic Cracking Units (FCCU) Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Fluid Catalytic Cracking Units’, reveals that the global FCCU capacity is expected to increase by 1.2 million barrels per day (mmbd), from 21.2mmbd in 2020 to about 22.4mmbd in 2024. Of the total capacity additions, one mmbd is expected to come from new-build planned and announced projects while the remaining 0.2mmbd is likely to come from the expansions of active projects.

Haseeb Ahmed, oil and gas analyst at GlobalData, commented: “Of Asia’s total FCCU capacity additions of 542mbd by 2024, 151mbd is likely from active expansion projects while new-build projects are expected to contribute the rest of about 391mbd by 2024. In the region, China accounts for most of the capacity additions with a combined total of nearly 481mbd by 2024.”

GlobalData expects Africa to occupy the second place in terms of FCCU capacity additions by 2024. The region is expected to contribute about 27% of the global FCCU capacity growth, with total capacity additions of 323mbd by 2024. In Africa, Nigeria accounts for most of the capacity additions with 247mbd.

The Middle East will be the third-highest region globally with 150mbd capacity addition by 2024. Kuwait and Iraq are the only contributors in the region with capacities of 98mbd and 52mbd, respectively.

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