Global Renewable Methanol Market to Exhibit 4.11% CAGR by 2028

1
Global Renewable Methanol Market to Exhibit 4.11
CAGR by 2028
Triton Market Research presents the Global
Renewable Methanol Market segmented by
Application (Formaldehyde, DME MTBE, Gasoline,
Solvents, Other Applications), Feedstock
(Agricultural Waste, Forestry Residues, Municipal
Solid Waste, CO2 Emissions, Other Feedstocks),
End-user (Chemical, Transportation, Power
Generation, Other End-users), and Geography
(Middle East and Africa, Europe, Asia-Pacific,
Latin America, North America). It further
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porters Five
Forces Model, Market Attractiveness Index, Vendor
Scorecard, Regulatory Framework, Key Market
Strategies, Drivers, Challenges, Opportunities,
Competitive Landscape, Research Methodology
Scope, Global Market Size, Forecasts Analysis
(2022-2028). Triton Market Researchs report
states that the global renewable methanol market
is expected to surge at 4.11 of CAGR during the
forecasted years 2022-2028. In terms of volume,
the market is estimated to advance at 2.32 CAGR.
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To eradicate the impact of global warming and
greenhouse emission, renewable methanol is
substantially used across all sectors of the
economy. Renewable methanol is produced using
2
renewable feedstock and energy. In this regard,
government regulations and the availability of
renewable methanol contribute to reducing CO2 and
greenhouse gas emissions, thus propelling the
global markets growth. However, the high
initial investment and processing expenses of
installing renewable methanol production units
pose a great threat to the studied markets
growth. The Asia-Pacific holds the largest
market for renewable methanol. The growing use of
methanol as a transportation fuel in countries
like China boosts the demand for renewable
methanol. Besides, major players are
collaborating to accelerate the awareness of
renewable methanol production, thereby augmenting
the markets growth process. For instance, China
entered into an agreement with Enerkem to build
100 advanced biofuels facilities by 2035. The
key companies listed in the renewable methanol
market are Advanced Chemical Technologies,
Enerkem, BASF SE, Carbon Recycling International,
Innogy, Fraunhofer, OCI NV, Nordic Green, SODRA,
Serenergy SV, Methanex Corporation, Gujarat
Narmada Valley Fertilizers Chemicals Limited,
Methanol Holdings (Trinidad) Ltd, Atlantic
Methanol, and Southern Chemical Corporation. The
degree of competitive rivalry in the market is
high and complex. The presence of the top 8
players, namely Innogy, Advanced Chemical
Technologies, BASF SE, Serenergy SV, Methanex
Corporation, Nordic Green, Southern Chemical
Corporation, and Atlantic Methanol, occupies 40
of the share in terms of revenue. The competitors
offer innovations through price, product
features, technology, etc., attracting buyers
interest. As a result, companies are focusing on
joint ventures to expand globally. Additionally,
owing to the higher proportion of customers
compared to the manufacturers, the bargaining
power of the buyers is considerably low.
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