New York, NY, March 05, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Renewable Methanol Market by Primary Source (Municipal Waste, Industrial Waste, Biomass, and Others), by Application (MTBE, Solvents, Dimethyl Ether, Gasoline, Formaldehyde, and Others), and by End-User (Power Generation, Transportation, Chemicals, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global renewable methanol market was valued at approximately USD 140 million in 2018 and is expected to generate USD 210 million by 2025, at a CAGR of around 3.5% between 2019 and 2025.
The renewable methanol has its application in various sectors, such as power generation, transportation, chemical manufacturing, etc. The production of renewable methanol is similar to conventional methanol, where carbon dioxide is substituted for carbon monoxide. Renewable methanol is fully miscible with conventional methanol and offers a highly scalable renewable liquid fuel and chemical pathway.
Browse through 100 Tables & 34 Figures spread over 110 Pages and in-depth TOC on “Global Renewable Methanol Market Size & Share 2018 Report: Industry Type, Segments, Demand, Analysis and Forecast 2025”.
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The exploitation of natural resources has caused high levels of greenhouse gas emissions and increased prices of crude oil. This has increased the consumption of renewable methanol. The conversion of agricultural and industrial wastage into renewable methanol has been driving the growth of the renewable methanol market globally. Biomass is the primary source for generating renewable methanol. It is expected to create new growth opportunities for this market, owing to its application in various solvents and chemical feedstock. High-octane fuel ethers, such as Methyl-tert-butyl-ether (MTBE), are used in the production of biodiesel will fuel product demand by automobile and transportation sectors. However, the production of bioethanol and agricultural feedstock’s supply for biogas generation may restrain the global renewable methanol market over the estimated timeframe. On the other hand, wide feedstock availability for generating renewable methanol is contributing to market development for renewable methanol on a global scale, which will provide new growth opportunities for the key players operating in the renewable methanol market.
Based on the primary source, the global renewable methanol market is segmented into municipal waste, industrial waste, biomass, and others. The biomass segment is expected to grow at a high rate in the years ahead, due to its easy availability in the market. On the basis of application, the market is segmented into MTBE, solvents, dimethyl ether, gasoline, formaldehyde, and others. On the basis of end-user, the market is segmented into power generation, transportation, chemicals, construction, and others. The power generation segment is likely to grow considerably in the future, owing to the growing demand for renewable methanol for the production of electricity.
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The North American renewable methanol market is expected to witness a notable rate of growth over the estimated time period, owing to the various key developments witnessed across the region. This, in turn, has increased the demand for power generation. Moreover, the growing awareness about the dangers related to climate change has led to a decline in the levels of CO2 emissions and increased use of renewable methanol.
Europe held a significant share of the global renewable methanol market in 2018 and is expected to witness a high demand for the renewable methanol market in the future. This can be attributed to the obligatory use of renewable methanol combination in automotive fuels. Additionally, various strict regulations are being laid down by the governments of different European countries to limit the use of CO2 across the region, which is indirectly supporting the region’s renewable methanol market growth.
Browse the full “Renewable Methanol Market by Primary Source (Municipal Waste, Industrial Waste, Biomass, and Others), by Application (MTBE, Solvents, Dimethyl Ether, Gasoline, Formaldehyde, and Others), and by End-User (Power Generation, Transportation, Chemicals, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/renewable-methanol-market
Asia Pacific was the largest market for renewable methanol in 2018 and held the highest market share in terms of both revenue and volume. This regional growth is particularly expected in developing nations, such as China and India. This growth can be attributed to the growing demand for energy and fuel that is backed by a growing population, which will boost the adoption of renewable processes and sources of energy generation.
Latin America and the Middle East and Africa are expected to witness moderate growth in the global renewable methanol market over the forecast time period. This growth can be attributed to the various developments initiated by the key players and the increasing power demand in these regions.
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Some key players operating in the global renewable methanol market include The VärmlandsMetanol AB, Carbon Recycling International, Chemrec Inc., Mitsubishi Chemicals Holdings, PETRONAS, Statoil, Enerkem, Blue Fuel Energy, BioMCN, BASF, and Methanex Corporation.
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This report segments the global renewable methanol market as follows:
Global Renewable Methanol market: Primary Source Analysis
- Municipal Waste
- Industrial Waste
- Biomass
- Others
Global Renewable Methanol market: Application Analysis
- MTBE
- Solvents
- Dimethyl Ether
- Gasoline
- Formaldehyde
- Others
Global Renewable Methanol market: End-User Analysis
- Power Generation
- Transportation
- Chemicals
- Construction
- Others
Global Renewable Methanol market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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