According to Inkwood
Research, the Global Renewable Methanol Market is estimated to evolve a CAGR of
2.23% in terms of revenue and 1.77% in terms of volume during the forecast
period, 2019-2028.
“Browse 61 Market Data Tables and 46 Figures spread over 150
Pages, along with an in-depth TOC on the Global Renewable Methanol Market Forecast 2019-2028.”
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Renewable Methanol is an ultra-low carbon chemical
manufactured from sustainable biomass, also known as bio-methanol. It cuts
carbon dioxide emissions by up to 95%, completely eliminates sulfur dioxide,
and minimizes nitrogen oxide emissions by up to 80%, in comparison to
conventional fuels.
Government
Regulations & Shifting Preference Drives Market Growth
The government regulations on greenhouse gas emissions are
projected to influence the growth of the market. A report by Renewables Now
states that carbon dioxide emission in Europe fell by 12%. Renewable energy
sources exceed conventional energy sources like fossil fuel and coal. The new
renewable energy policies in the EU Emissions Trading System are projected to
propel market growth for the aforementioned energy sources. This will further
fuel the growth of the market under study.
The shifting trend towards sustainable energy is set to be
impactful for market growth. The production of renewable methanol bridges the
gap between renewable sources and conventional fossil fuel. Also, harnessing
excess energy from renewable sources like wind and solar is projected to surge
the demand for renewable methanol production.
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Municipal
Solid Waste Feedstock –The Leading and Dominating Feedstock
The huge accumulation of Municipal Solid Waste (MSW) and the
threat that is posed to the environment, could be tackled by using it to
produce sustainable chemicals. It is increasingly used in renewable methanol
production. Almost 1.3 billion metric tons of MSW are manufactured every year
across the globe. It is projected to rise to 2.2 billion metric tons by 2025.
With the use of MSW, the efficient utilization of unrecyclable garbage becomes
possible. Many companies make use of MSW for the production of renewable
methanol. Biochemical Company Enerken is developing a plant that will turn
350000 metric tons of waste into 270 million liters of biomethanol in Rotterdam
every year.
Asia
Pacific to remain the Major Market throughout 2019-2028
The rising use of methanol as a transportation fuel in China
is estimated to result in increased demands for the market under study. The
region also has the presence of major players like Carbon Recycling
International, which is deemed to be beneficial for market growth. Many
prominent providers of methanol technology are collaborating to promote
renewable methanol production. Zixin Industrial Co and Geely Holdings are
establishing facilities in China. Such developments are estimated to fuel up
demands in the region.
The market is fragmented, with the top 8 players occupying
almost 40% share in terms of revenue. The companies are prioritizing the
increase in production. They are engaged in more joint ventures for expansion
across the globe. Some of the top players in the market include, Methanex
Corporation, Carbon Recycling International, Advanced Chemical Technologies
Inc, Enerkem, BASF SE, etc.
About Inkwood Research
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research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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