Renewable Methanol Market 2022 Outlook, Current and Future Industry Landscape Analysis 2026
Future Market Insights delivers key insights on the global renewable methanol market in its latest report titled “Renewable Methanol Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. According to the report, global sales of renewable methanol is estimated to be valued at US$ 133.3 Mn by the end of 2016, witnessing a Y-o-Y growth of 5.2% over 2015.
Renewable methanol is a second generation biofuel and is
derived from renewable sources such as biomass, industrial waste, municipal
waste, and industrial CO2. Renewable methanol is used as a
transportation fuel after blending it with other chemicals. The main reason for
the rise in demand for renewable methanol as a fuel is the implementation of
regulations especially in Europe and North America that over 10% of the
transport fuel should come from renewable sources by the end of 2020. Renewable
methanol that is produced through the gasification process and using biomass is
used as a liquid motor fuel as it has a high hydrogen to carbon ratio due to
its high octane rating. Moreover, the use of renewable methanol is expected to
reduce greenhouse gas emissions by over 15%-20% as compared to other fuels.
Another major advantage of renewable methanol is that when produced using
industrial waste and municipal waste, it reduces the waste content and converts
it to usable energy.
Environmental pollution from CO2 emissions
and import of crude oil for fuel has resulted in the adoption of renewable
energy sources. Thus, reduction of agricultural waste and conversion of
municipal solid waste into syngas and further into renewable methanol can offer
lucrative growth opportunities for key players operating in the global
renewable methanol market.
Segmentation highlights
On the basis of primary source, the global renewable
methanol market can be segmented into biomass, industrial waste, municipal
waste, and others; and on the basis of end-use application into formaldehyde,
MTBE, gasoline, dimethyl ether, solvents, and others.
- The
biomass primary source segment is expected to hold significant share in
the global renewable methanol market and is estimated to register the
highest CAGR of 7.0% in terms of value over the forecast period. The
segment is expected to create incremental opportunity of US$ 53.7 Mn
during 2016–2026
- The
MTBE end-use application segment is anticipated to register the highest
CAGR of 8.1% in terms of value between 2016 and 2026. This segment is expected
to gain traction over the forecast period due to increasing demand for
fuel blends from the automotive industry
Vendor insights
The report features some of the top companies operating in
the global renewable methanol market. Leading market players profiled in the
report are BioMCN, Methanex Corporation, Enerkem, Chemrec Inc., Carbon
Recycling International, and VarmlandsMetanol. These players have adopted the
strategy of signing long-term supply agreements with feedstock suppliers and
end-use customers to maintain continuous supply of renewable methanol.
Moreover, these companies are also focussing on the transport sector as this
sector is expected to offer lucrative opportunities over the forecast period.
Read Full Report@ https://www.futuremarketinsights.com/reports/renewable-methanol-market
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