What is Renewable Methanol Market?
Renewable Methanol is ultra-low carbon chemical substance which is produced from sustainable biomass and it is called bio- methanol, or carbon dioxide and hydrogen. Renewable Methanol is used for the production of renewable electricity. Renewable methanol production is the latest technology that bridges the gap in the shift from fossil fuel to renewable energy. Geographically, Asia pacific leading region for the production of Renewable methanol. Renewable methanol is used in plastics, paints, cosmetics, and fuels. Hence this is a key factor that is triggering the market growth over the forecast period
The market study is being classified, by Application (Automotive, Construction, Electronics and Others) and major geographies with country level break-up.
Advanced Chemical Technologies (United States), BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Varmlands Methanol Plant (Sweden), Asahi Kasei Corporation (Japan), BSE Engineering, Inc. (United States), Catalytic Innovations (United States), Gensoric GmbH (Germany), Liquid Wind (Sweden) and Quantiam Technologies Inc. (Canada) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Thyssenkrupp AG (Germany), Swiss Liquid Future AG (Switzerland), BioMethanol Chemie Holding II BV (Netherlands), Carbon Recycling International Inc. (Iceland), Methanex Corporation (Canada), Enerkemand (Canada) and Equinor ASA (Norway).
The market is expected to grow market in manufacturing as well automotive. It has wide application in construction and chemical is driving the demand for the market. Several companies are operating in the market to provide customers with better offers with various features & unique offerings. The market is a partially fragmented market with the presence of several market players and local players. Which is triggering the market growth over the forecast period
Segment Analysis
Analyst at AMA have segmented the market study of Global Renewable Methanol market by Type, Application and Region.
On the basis of geography, the market of Renewable Methanol has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increase in carbon conversion yield
- The renewable methanol process requires less hydrogen
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Market Trend
- Technological Advancement regarding Renewable Methanol
- Rising demand for renewable methanol to reduce carbon emission
Restraints
- It has ignition failure in colder temperatures
Opportunities
- Methanol has less density advantage
Challenges
- Production of methanol from biomass, CO2, and H2 do not involve technologies any level
Market Leaders and some development strategies
On 1st April 2020 Greencoat renewables have acquired 51.9MW operating wind capacity in France. The project cost value was USD 95 million
In 2018, the BASF SE (Germany) Company has announced to start the production of methanol based on renewable raw materials. Hence, it will affect the growth of the market in future and On Feb 18, 2021, Maersk to launch its first carbon-neutral, methanol-fuelled containership by 2023
According to an article published by Methanol Institute Org, “MI’s Legislative & Regulatory Committee is focused on interactions with governments around the globe to ensure that the development of public policy utilizes the best available scientific evidence and does not unduly hinder the growth of the methanol industry”.
Key Target Audience
Renewable Methanol Manufactures Company, Government and other Regulatory Bodies, Research institutes and organizations, Market research and consulting firms and Others