Global Renewable Methanol Market 2022-2027 - Industry Trends, Opportunities and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2022--
The “Renewable Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global renewable methanol market size reached US$ 3.16 Billion in 2021. Looking forward, the market is set to reach US$ 4.5 Billion by 2027, exhibiting a CAGR of 6.07% during 2021-2027
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Renewable methanol (CH3OH) is an organic compound produced from unconventional energy sources and renewable feedstocks. It is derived from sustainable biomass, such as industrial, agricultural, forest, and municipal waste, or synthesized using green hydrogen and carbon dioxide (CO2).
Renewable methanol is widely used in plastics for packaging, glues, adsorbents, diapers, paints, adhesives, solvents, and biodiesel production. Furthermore, it is an excellent industrial solvent and is widely used as a feedstock in the chemical industry to produce formaldehyde, dimethyl ether (DME), and methyl tertiary butyl ether (MTBE).
In comparison to conventional methanol, renewable methanol is an ultra-low carbon chemical with a high-octane rating that assists in mitigating various environmental concerns. As a result, it finds extensive applications across the chemical, transportation, power generation, and construction industries.
Renewable Methanol Market Trends:
Increasing environmental consciousness among the masses is one of the key factors driving the market growth. Renewable methanol helps in reducing emission levels of particulate matter and greenhouse gases (GHG), such as carbon dioxide, nitrous oxide, and sulfur dioxide.
Furthermore, rising product utilization as a gasoline additive and substitute due to high octane rating, knocking resistance, and oxygen content is acting as another growth-inducing factor.
Additionally, the introduction of microwave and non-thermal plasma and magnetic induction-based reactors for selective conversion of carbon dioxide to renewable methanol at minimum energy consumption and lower production costs is providing an impetus to market growth.
Moreover, the implementation of various government initiatives and international agreements to reduce pollution and achieve a climate-neutral world is creating a positive outlook for the market.
Other factors, including the increasing demand for formaldehyde production, shifting trends toward sustainable energy sources, and widespread compound utilization as marine fuel, are anticipated to drive the market growth.
Key Questions Answered in This Report:
- How has the global renewable methanol market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global renewable methanol market?
- What are the key regional markets?
- What is the breakup of the market based on the feedstock?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global renewable methanol market and who are the key players?
- What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Advanced Chemical Technologies
- Advent Technologies A/S
- BASF SE
- Blue Fuel Energy Corporation
- Carbon Recycling International
- Methanex Corporation
- Methanol Holdings (Trinidad) Limited (Proman AG)
- Nordic Green Aps
- OCI N.V.
- Sodra Skogsagarna.
Key Market Segmentation:
Breakup by Feedstock:
- Agricultural Waste
- Forestry Residues
- Municipal Solid Waste
- Co2 Emissions
Breakup by Application:
- Dimethyl Ether (DME) and Methyl tert-Butyl Ether (MTBE)
Breakup by End Use Industry:
- Power Generation
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/f3omiq
View source version on businesswire.com:https://www.businesswire.com/news/home/20221221005277/en/
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INDUSTRY KEYWORD: ALTERNATIVE ENERGY CHEMICALS/PLASTICS ENERGY MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/21/2022 06:54 AM/DISC: 12/21/2022 06:54 AM