Asia is forecast to be the major contributor to the growth of the global refinery fluid catalytic cracking units (FCCU) industry between 2018 and 2022, accounting for around 54% of the global planned and announced refinery FCCU capacity additions by 2022, according to GlobalData, a leading data and analytics company.
The company's report: ‘Global Refinery Fluid Catalytic Cracking Units (FCCU) Outlook to 2022' forecasts that around 3,271 thousand barrels of oil per day (mbd) of planned refinery FCCU capacity will be added globally by 2022, taking the total global refinery fluid cracking unit capacity to around 24,152 mbd by 2022.
Asia also has the highest new build capital expenditure (capex) spending globally with roughly US$30.8bn during the 2018–2022 period. Among the countries in the region, China will have the highest planned refinery FCCU additions of 973 mbd by 2022.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, explains: “China's refinery fluid catalytic cracking units capacity is expanding rapidly, fuelled by an increasing use of gasoline by the domestic transportation sector. The country is planning to add eight refinery fluid catalytic cracking units by 2022, accounting for more than half of Asia's total fluid catalytic cracking capacity additions.”
GlobalData identifies Africa as the second highest in terms of refinery FCCU capacity additions as well as planned capex spending. The region will add approximately 784 mbd of FCCU capacity and has planned capex of around US$18bn by 2022. Nigeria will be the top country in the region with planned FCCU capacity additions of 462 mbd during the forecast period.
Tejomoortula adds: “Nigeria is expanding refinery fluid catalytic cracking units to reduce imports of gasoline and other petroleum products. The country is also planning to export petroleum products to generate valuable foreign exchange.”
In terms of capacity, Dayushan Island refinery in China, Lagos I refinery in Nigeria and Pulau Muara Besar refinery in Brunei are the top three planned and announced refinery FCCUs for the 2018–2022 period with capacities of 304 mbd, 247 mbd, and 172 mbd respectively.
In terms of capex, Nakhodka refinery in Russia, Tabi refinery in Angola, and Yanbu IV refinery in Saudi Arabia are the top three planned and announced refinery FCCUs globally between 2018 and 2022, with capex of US$2.5bn, US$2.16bn, and US$1.9bn respectively.
Information based on GlobalData's report: Global Refinery Fluid Catalytic Cracking Units (FCCU) Outlook to 2022 – Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Fluid Catalytic Cracking Units