Title: Renewable Methanol Market
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2 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
3Renewable methanol is produced from renewable
sources such as industrial wastages and biomass.
It is a key ingredient in the manufacturing of
biodiesel production which can be used with
automobile fuels. Renewable methanol is widely
used across power generation, transportation,
automobiles, and chemical manufacturing sectors.
Renewable methanol contributes to decreasing
carbon dioxide emissions level by 60-80.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).
- 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. - 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.
4Figure 1. Global Renewable Methanol Market Share
() in terms of Value, By Region, in 2019
Europe region dominated the global renewable
methanol market in 2019, accounting
for 29.4 share in terms of value, followed by
North America and Asia Pacific, respectively.
5 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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7 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. - 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.
8Figure 2. Global Renewable Methanol Market
Opportunity Analysis
9 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.
10- Figure 3. Global Renewable Methanol Market Share
() in terms of Value, By Primary Source, in 2019
On the basis of primary source in 2019, the
biomass segment has accounted the largest market
share of 42.4 in terms of value, followed by
municipal waste and industrial waste segment
respectively.
11- 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)
- 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.
12- Competitive Section
- Company Names
- Methanex Corporation
- Carbon Recycling International
- BioMCN
- Enerkem
- Chemrec Inc.
- VarmlandsMethanol
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market-insight/renewable-methanol-market-3907
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