Green Refineries Market Revenue and Forecast by 2033

01 Oct 2025

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Table of Content

1. Green Refineries Market Revenue and Trends 2025 to 2033 2. What are the Key Factors Driving the Growth of the Green Refineries Market? 3. Segment Insights: 4. Regional Insights: 5. Green Refineries Market Coverage 6. Green Refineries Market Key Players

Green Refineries Market Revenue and Trends 2025 to 2033

The global green refineries markets role of green refineries in achieving net-zero emissions targets, emphasizing their contribution to sustainable energy systems. The market is expanding because of the increasing global mandates for net-zero carbon emissions, stringent fuel quality regulations, and growing corporate and consumer demand for sustainable, low-carbon fuels.

What are the Key Factors Driving the Growth of the Green Refineries Market?

Multiple interconnected factors are propelling the growth of the market for green refineries. Regulatory mandates, particularly in the EU, US, and Asia, promote renewable fuel standards and stricter emissions evaluations, making green refining more appealing. Innovations in feedstocks, combined with a maturing supply chain, particularly for used cooking oil (UCO), waste fats, and agricultural residues, offer reduced costs and improved sustainability. Technological advancements in hydroprocessing, hydrotreating, and catalytic systems boost renewable yields, operational efficiency, and emissions profiles.

Simultaneously, corporate ESG policies and investor influence encourage oil & gas, as well as refining companies, to decarbonize their operations. The overarching demand for fuels, particularly in transportation and aviation, coupled with international regulatory agreements, decisively favors renewable diesel, sustainable aviation fuels (SAFs), and low-carbon drop-in fuels, resulting in increased investment in green refineries.

Segment Insights:

• By feedstock, the used cooking oil segment dominated the market in 2024 due to its wide availability, relatively low cost, and improved carbon intensity as compared to virgin oils.
• By process technology, the hydroprocessing segment led the market with the largest share in 2024. This is mainly due to its critical role in producing ultra-low sulfur fuels and renewable diesel from bio-based feedstocks, aligning with stringent environmental regulations.
• By product type, the renewable diesel segment dominated the market, as it serves as a drop-in substitute to conventional diesel, with lower emissions and compatibility with existing fuel infrastructure. 
• By application, the transportation fuel segment dominated the market in 2024 due to its immediate scalability and compatibility with existing infrastructure, allowing for rapid decarbonization without the need for new hardware.
• By end-user, the oil & gas companies segment dominated the market in 2024 due to their ownership of refining assets and vertical integration, allowing them to invest in and convert existing refining assets to produce renewable fuels.

Regional Insights:

Europe registered dominance in the green refineries market by capturing the largest share in 2024. This is mainly due to its robust legislative framework, including the Renewable Energy Directive, clean fuel mandates, and carbon pricing, which encourages significant investment in sustainable refining projects. Furthermore, major industry players such as Neste, Shell, and Total Energies are expanding their capacity or adapting existing facilities to produce renewable diesel and sustainable aviation fuel from waste feedstocks.

Asia Pacific is expected to experience rapid growth in the coming years, driven by increasing energy demands, concerns over air pollution, and government initiatives aimed at achieving carbon neutrality. Countries like Singapore, Japan, South Korea, and Australia are actively implementing mandates, offering incentives, and investing in infrastructure to support green feedstocks, hydrogen, and renewable-based refining processes.

Green Refineries Market Coverage

Green Refineries Market Key Players

• Sinopec
• ExxonMobil
• Linde
• Air Liquide
• Siemens Energy AG
• Reliance Industries
• Larsen & Toubro (L&T)
• NTPC Ltd
• Adani Green Energy Ltd
• ONGC

Recent Development:

• In March 2025, Neste Oyj raised €700 million (approximately USD 758 million) through a green bond issuance to finance the expansion of its Rotterdam refinery. This project aims to establish the facility as the world's largest producer of renewable diesel and sustainable aviation fuel (SAF) upon completion in 2027.  (Source- https://renewablesnow.com)

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