Renewable Methanol Market | Coherent Market Insights

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RENEWABLE METHANOL MARKET ANALYSIS

• Renewable Methanol Market, By Primary Source
  (Biomass, Municipal Waste, Industrial Waste,
  Others), By Application (Formaldehyde, Methyl
  tert-butyl ether (MTBE), Gasoline, Dimethyl
  Ether, Solvents, Others), and By Region (North
  America, Latin America, Europe, Asia Pacific,
  Middle East Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2020 2027
• The global renewable methanol market is projected
  to reach around US 266.2 million by the end
  of 2027, in terms of revenue, growing at CAGR
  of 6.5 during the forecast period (2020-2027).

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Drivers

• Rising demand for renewable methanol as a motor
  fuel across the transportation industry is
  projected to augment market growth. Renewable
  methanol is produced from natural gas, coal and
  landfill waste, wood waste, and seaweed. It
  reduces greenhouse emissions by 1520 as
  compared to gasoline. Renewable methanol is used
  as a motor fuel and also has the highest
  hydrogen-to-carbon ratio as compared to liquid
  fuel owing to its high octane number.

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• Growing environmental concerns due to global
  warming and changing weather conditions is
  primarily fueling the market growth of renewable
  methanol. The depletion of natural resources due
  to increasing reliance on fossil fuels and
  fluctuating prices of natural gas and crude oil
  is also contributing to the market of renewable
  methanol. Thus, growing environmental concern
  subjected to CO2 emission is projected to propel
  the market growth of renewable methanol.

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Figure 1. Global Renewable Methanol Market Share
() in terms of Value, By Region, in 2019
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Market Restraints

• High demand for agricultural feedstock for the
  production of biogas and bioethanol is expected
  to hamper the production and consumption of
  renewable methanol. This is expected to hinder
  the market growth of renewable methanol.

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Market Opportunities

• Growing demand for renewable methanol from the
  automotive industry as a superior liquid motor
  fuel is expected to present lucrative
  opportunities to the market. According to the
  Coherent Market Insights analysis, the total
  number of passenger transport in Europe is
  expected to increase by over 35 by 2050 as
  compared to the current level. Increasing the use
  of an electric vehicle that is powered by fuels
  and renewable methanol is used in fuel-cell
  vehicles. Thus, growth in the automotive industry
  will favor market growth.

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• Increasing focus of manufacturer on the
  conversion of industrial and agricultural
  wastages into renewable methanol is projected to
  raise the product demand. This is expected to
  create major opportunities for growth in the
  market of renewable methanol. Also, increasing
  demand for bio-based chemicals and solvents
  around the globe is further expected to
  accelerate the market growth of renewable
  methanol. 

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Figure 2. Global Renewable Methanol Market
Opportunity Analysis
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Market Trends

• Increasing adoption of advanced and eco-friendly
  technology for the production of renewable
  methanol is expected to foster market growth. For
  instance, in June 2019, Eni and Synhelion, a
  spin-off of Zurich Polytechnic University (ETHZ),
  announce the development of new technology for
  the production of methanol from carbon dioxide
  (CO2), water and methane. The production of
  methanol using renewable energy will help Eni to
  simultaneously work towards the twin targets of
  greenhouse gas reduction and carbon dioxide usage
  as raw material.

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Figure 3. Global Renewable Methanol Market Share
() in terms of Value, By Primary Source, in 2019
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Regulations

• Low Carbon Fuel Standard 
• Applicable Region
• EU Directive 2009/30/EC (Fuel Quality Directive)
• Canada (British Columbia) Renewable Low Carbon
  Fuel Requirements Regulation
• U.S. (California) Low Carbon Fuel Standard (also
  being considered in Oregon, Washington, the
  Northeast and Mid-Atlantic states, the Midwest
  states, and at the national level)

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Global Renewable Methanol Market Impact of
Coronavirus (Covid-19) Pandemic

• The coronavirus outbreak has resulted in lower
  transport activity across the globe. This has
  resulted in lower demand for blended fuels from
  transportation industry, which in turn is
  expected to impact demand for renewable methanol
  in 2020. Moreover, low gasoline prices is also
  impacting renewable methanol consumption. Many
  production facilities in Brazil, European Union
  and United States have reduced their production
  due to sluggish local and international demand.
  Reduced demand is expected to increased renewable
  methanol stocks in many markets, decreasing the
  renewable methanol prices and compromising
  profitability. The global renewable methanol
  market is expected to grow at a low CAGR of
  around 3 for a short term period till 2021.

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Competitive Section

• Company Names 
• Methanex Corporation
• Carbon Recycling International
• BioMCN
• Enerkem
• Chemrec Inc.
• VarmlandsMethanol

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